2018 Annual General Meeting 25 October 2018
2018 Annual General Meeting Chairman Chairman Mr Chris Knoblanche AM 25 October 2018
Revitalised senior executive team Brod Brodie Arnold ie Arnold Vicki Pafum Vicki Pa fumi Warr Warren Hebard en Hebard Henriette Rothschild Henriette Rothschild Slade Sherm Slad e Sherman David Christie David Christie CEO CEO, Exe Executive utive Dire Director or Chief Financi Chief Financial l Officer Officer Chief Operating Chief Oper ing Officer Officer Chief Experienc Chief Experi ence Officer Officer Chief Marketing Chief Marketing Officer Officer Chief Strategy Officer Chief Strateg Officer Slade joined iSelect in Warren joined iSelect as David joined iSelect in Henriette joined iSelect in Brodie commenced as Vicki joined iSelect in February 2018 and is CMO in April 2018, September 2013 and August 2017 and is Interim CEO in April 2018 November 2015 and held responsible for customer leads the Group’s responsible for the tasked with undertaking after having joined the senior roles within the and digital strategy strategy, legal, performance of the a strategic review of the board in September 2014 Company’s finance and including the Technology, compliance, human individual business units, business’ marketing operations functions before Data Science and Product resources, IT and customer contact centre strategy and mix being appointed CFO in July Brodie has over 15 years’ functions company secretary operations and commercial modelling tools to build 2018. Prior to Vicki’s experience in private equity partnerships both long-term brand functions and investment banking, appointment as CFO, she held He has extensive equity and short-term including roles at Goldman the role of Interim CFO from experience in digital lead generation David has over 20 years’ Henriette has over 25 Sachs and Nomura 27 January 2016 to3 July 2017 transformation, having led experience as a senior years’ experience in sales, and from 17 November 2017 large-scale technology legal executive and was marketing, human Warren is responsible for to 1 July 2018. based projects for leading previously Global Head resources and consulting. building iSelect’s brand global businesses of Legal for Renaissance and consumer In her previous role Vicki was Capital Limited engagement across all responsible for Workforce media channels Planning, Dialler Operations and Project Management, as well as the management of our Cape Town business 3
2018 Annual General Meeting CEO Presentation CEO Presentation Brodie Arnhold 25 October 2018
Overview of key operating metrics in FY18 CUSTOMER SALES PER CONVERSION SALES UNITS REVENUE LEADS CUSTOMER IMPROVED 2% 3.3% 2% 3.5% FOCUS to 4.2m From 1.38 to 1.43 to $181.4m to 465k at 11.0% • Energy leads growth • Shift towards return • Health revenue impacted by an • Strong operational focus • Sales growth driven by the underpinned by utility price customers to drive ineffective marketing campaign saw conversion increases in new GI verticals rises multiple sales and Health, Life, General • However Health RPS improved • Energy sales continued to customer value Insurance (GI) and Energy • Health leads negatively due to continued success among grow on the back of • Gross revenue per • Underpinned by a greater impacted by declining the older demographic strong market demand Private Health Insurance customer increased by focus on Cross-serve • Revenue growth in Energy & participation levels 2.6% from $463 per Telco as well as General customer to $475 per • Significant investment in the Insurance, reflecting improved customer ineffective Brand campaign, operating efficiency and a focus via 'Above the Line' on multi-product sales, driving channels saw overall higher RPS per customer marketing efficiency reduced. This has now been 5 addressed
Technology initiatives and marketing mix optimisation Key product and technology investmen Key product and technology investments: • Building internal design and technology capability through investments in best practice Product, Data Science and Technology teams in Melbourne • Uplifting our legacy technology stack with a focus on: ⎻ Implementing a customer profile to better service return customers ⎻ Improving up-sell and cross sell opportunities for multiple products online and via our website ⎻ Improving customer experience, search and discovery online ⎻ Upgrading our telephony system to leading platform Key marketing initiativ Key ma rketing initiatives • Focus on EBIT positive ROI for all marketing activity ‒ Best practice and core execution, along with improved tracking and analysis is being implemented • Changes to marketing approach ‒ Immediate shift away from underperforming marketing activity in Q4 FY18 ‒ Significant redirect of marketing mix to minimise non-productive marketing costs ‒ Exit of under-performing agreements, contracts and agency relationships ‒ Internalisation of resources and execution ‒ Restructure of marketing team 6
Billusionist – New marketing campaign achieving traction with consumers 7
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iMoney integration progressing as planned RPS • 17% Progress priority growth & governance initiatives UVs Captures to $10 • Dialler & Propensity Implementation 39% 55% 55% • to 700k Inbound and Web optimisation • Regulatory & compliance survey to 9.3m H2 H2 resu result (FY1 (FY18 vs vs FY17 FY17) • End point security • Finance reporting integrations • Establish operating Rhythm • Periodic huddles & prioritisations • Joint business planning • Resource share & collaboration • Strategic planning & alignment 9
Strong Q1 FY19 reflects profitable growth initiatives Strong f financial p nancial perform ormanc nce in in Q1 FY19 vs Q1 FY18 Q1 FY19 vs Q1 FY18 • Positive EBIT (low single digit) result in Q1 FY19 vs loss in Q1 FY18 • Turnaround in the business reflects: ‒ Optimised lead mix driving improved marketing efficiency ‒ Strong conversion rates ‒ Combined these are delivering strong sales units ‒ Continued efficient management of overhead costs Early signs in Q2 Early signs in Q2 FY19 sh FY19 show continu ow continued positive trend d positive trend 10
Looking forward – sustainable profitable growth in FY19 • Revitalised senior executive team focused on operational performance and sustainable, profitable growth • Strategic initiatives will continue throughout FY19 • Initiatives implemented over Q4 FY18 and Q1 FY19 are delivering tangible results. Still have changes to get right. • Investment in technology to improve customer experience and underpin long-term growth • Ensure iSelect continues to make it easier for customers to transparently compare services and make informed decisions to renew, buy and save through ongoing work with commercial partners, regulators and government • Performance over Q1 FY19, featuring more effective marketing, leads optimised, strong conversion rates and higher profits ahead of budget, gives the Board confidence of a promising year ahead and a trajectory that should see iSelect return to its historic profitability over the short to medium term 11
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