CREATING SHARED VALUE
More Confident
When people are covered by insurance and communities are resilient and well connected, they have the certainty and confidence to prosper. Recognising the impact of digital disruption, we are focusing on the barriers to accessing and affording insurance by using customer insights and agile working to trial new products and services.
MEETING CUSTOMER NEEDS – SUPPORTING ACCESS AND AFFORDABILITY
We listen to our customers, partners and communities to co-create solutions that are accessible and address a wide range of needs.
In 2015 we launched Insurance 4 That, a low-cost single item insurance for Australians who typically can’t afford insurance. We also launched AMI Young Drivers insurance that aims to increase car insurance affordability for New Zealand drivers under 25 by offering a 50 per cent no claim bonus up front. Some of these drivers may have typically been insured on their parents’ policies so this also encourages drivers to build their own safe driving insurance history.
This year we partnered with GIVIT to help vulnerable communities get back on their feet following a natural disaster. GIVIT uses a virtual warehouse to connect over 1,100 service providers to donors. This eliminates the need for charities to collect, sort and store donations and reduces the administrative and financial burden for local councils and charities.
LAUNCHING MOBILE APP ‘ONE TOUCH’ IN ASIA
We have worked closely with a number of our Asian business partners to help improve the customer experience by developing and launching mobile apps, websites and digital applications across the region. This includes One Touch, a specialised motor claims lodgement app launched in Thailand and Malaysia, enabling customers to lodge a motor claim using only the app through their mobile device.
SUPPORTING RESILIENCE IN INDIGENOUS COMMUNITIES
This year we commissioned Australia’s first national research project into the risk exposure and insurance needs of Indigenous communities. This helped highlight the challenges many Indigenous people and communities face with insurance and we are using this research to identify ways to communicate and work with Indigenous communities more effectively.
OFFERING OUR CUSTOMERS MORE THAN INSURANCE
Our Risk, Resilience and Recovery service, through IAG-owned Dynamiq and Accident & Health International, is an example of how we leverage our skills and knowledge to provide specialist advice and support our business customers to assess their risks and implement resilience and recovery programs.
Our research revealed that access to quality healthcare is a significant concern in rural areas. CGU used this insight to partner with Best Doctors, an organisation that offers remote access to the best medical specialists globally, to provide 59,000 CountryPak customers and 10,000 brokers with complimentary access to the Best Doctors service.
| More Confident — Our objective |
Measure | Our commitment | Progress |
|---|---|---|---|
| Affordable & transparent protection for all | Number of products, services or innovative solutions launched | Leverage customer insights, agile methods and a data driven approach to develop and test solutions that respond to evolving customer needs, and help enhance resilience and social inclusion | Microinsurance products (annual premiums less than $5) offered in India, Vietnam and Thailand Extended microinsurance offering in Vietnam, partnering with VP Bank to introduce microinsurance Premium discount of up to 10% available for NRMA Insurance customers who have a fuel efficient car |
IAG’s non-financial metrics have been independently assured by Ernst & Young (EY). All of IAG’s non-financial metrics are reported in our Data Summary and Glossary of Terms available online in the Shared Value area of our website (http://www.iag.com.au/creating-shared-value). The assurance statement is also available online