Breaking News: Major insurer IAG announces leadership overhaul

Breaking News: Major insurer IAG announces leadership overhaul | Insurance Business Australia

Breaking News: Major insurer IAG announces leadership overhaul
IAG has announced a major overhaul of its business with a new structure and leadership team taking the reins

The new structure will come into effect on 9 December and will see the company create two customer facing divisions, the Australian Consumer Division which will focus on individuals and families, and the Australian Business Division which will be aimed at businesses of all sizes.

A further three divisions have been created to focus on customer experience, technology and operations and will be called Customer Labs, Digital Labs and Operations.

The company also announced 11 executive changes to the business, headlined by the move that will see Andy Cornish, CEO of IAG’s Personal Insurance Business, step down.

Peter Harmer, CEO and managing director of IAG, said that the changes will help build the company for the future.

“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,” said Harmer.

The moves will also see the creation of a new International Division which will encompass IAG’s Asian and New Zealand operations.

The following executive changes have been made to the business:

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. 

Andy Cornish – will act as Chief Operating Officer, leading the Operations Division, until Mark Milliner joins IAG in mid-2016. This role is responsible for a combined claims function and operational support services including procurement and supply chain management in Australia. It is also responsible for driving the ongoing simplification of operational processes and systems.

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 1 January 2016. 

Anthony Justice – has been appointed Chief Executive Australian Consumer Division (NRMA and RACV ).   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. 

Harmer thanked Cornish for his work at IAG as the departing executive will now focus on portfolio career having spent seven years in the role of CEO of Personal Insurance at IAG.

“Andy has made a wonderful contribution to IAG. His passion for our customers and our people has been extraordinary, and this is reflected not only in the brands he leads but in the IAG we see today. We wish him every success in his future career,” Harmer said.