Insurance giant IAG has announced a major restructure of its senior executive team.
CEO Peter Harmer says the changes to take effect from tomorrow will support the company’s desire to be a customer-led and data-driven organisation which can adapt quickly to a rapidly changing environment.
“Our new structure reflects our focus on future profitability by redefining our core businesses around our customers and establishing three functions to provide the insights, products and services our customer-facing divisions need to deliver a world-leading customer experience,” Harmer says.
In the Australian market, IAG will have two customer-facing divisions responsible for sales, service, and brand and marketing execution.
The Australian consumer division will focus on individuals and families, and the Australian Business Division will look after businesses of all sizes.
Here are the three divisions which will be focused on the customer experience, technology and operations.
1. Customer Labs will be responsible for the customer experience strategy and driving product innovation through data and insights, brand architecture and new business incubations and venturing.
2. Digital Labs will continue the work of IAG Labs, providing digital and design innovation while identifying and harnessing disruptive technology. Digital Labs will also be accountable for building digital apps and simplifying existing core platforms.
3. Operations will be responsible for claims and operational functions such as procurement and supply chain management. The Operations division will assume much of the work formerly carried out by Enterprise Operations.
The Asia and New Zealand businesses will move into a new international division which will focus on growing its established presence in Malaysia, Thailand, India, Indonesia and Vietnam.
Andy Cornish, chief executive of Personal Insurance, has decided to leave IAG to pursue a portfolio career. He will leave in mid-2016 after more than seven years in the role.
Until then he will act as COO, leading the Operations Division, until Mark Milliner joins IAG.
Here’s a look at the new senior executive team.
Julie Batch – will head up Customer Labs as Chief Customer Officer, responsible for developing customer propositions and marketing strategies. Batch was previously Chief Analytics Officer.
Chris Bertuch – remains Group General Counsel & Company Secretary responsible for legal and corporate governance across IAG and will now report directly to Harmer.
Ben Bessell – becomes Chief Executive Australian Business Division (CGU, WFI, Lumley and Swann brands). Bessell was previously acting CEO Commercial Insurance.
David Harrington – has been appointed to the new role of Group Executive, Office of the CEO, responsible for group-wide strategy and corporate development. Harrington was previously Group General Manager, Group Strategy reporting to the Chief Strategy Officer.
Nick Hawkins – remains Chief Financial Officer and will have additional responsibility for the International Division (Asia and New Zealand) and the challenger consumer segment, which includes SGIO, SGIC and Coles Insurance.
Jacki Johnson – has been appointed to the new role of Group Executive, People, Performance & Reputation, responsible for people and culture, corporate affairs, shared value and the IAG Foundation. Johnson was previously CEO for IAG’s New Zealand business. Her new role comes into effect on January 1.
Anthony Justice – has been appointed Chief Executive Australian Consumer Division (NRMA and RACV1). Justice was previously Chief Customer Officer, Personal Insurance reporting to the CEO Personal Insurance.
Claire Rawlins – has been appointed Group Executive, Digital & Technology, leading Digital Labs with responsibility to drive digital innovation while simplifying core systems and processes. Rawlins was previously Chief Information Officer and reported to the CEO of IAG Labs.
Clayton Whipp – remains Group Risk Officer with responsibility for group-wide risk and actuarial services.
Duncan Brain – remains Chief Executive Asia, and Craig Olsen has been appointed Chief Executive New Zealand. Both will report to IAG CFO Nick Hawkins and sit on the Group Leadership Team.