IAG Investor Day 8 December 2016
Introduction & strategy overview Peter Harmer Managing Director and Chief Executive Officer
09.00 am Introduction & strategy overview Peter Harmer, Managing Director & CEO 09.15 am Customer Julie Batch, Chief Customer Officer 09.30 am Optimisation Mark Milliner, Chief Operating Officer 09.50 am Agility Jacki Johnson, Group Executive People, Program Performance & Reputation 10.00 am Capital Nick Hawkins, Chief Financial Officer outline 10.20 am Morning tea (webcast paused) 1. Venturing 10.40 am Zone sessions Ron Arnold, General Partner, IAG Ventures Note: Zone sessions will not be webcast 2. Product innovation James Orchard, EGM Innovation 3. Customer-led growth Dr Rami Mukhtar, CEO Ambiata 4. Operational partnering Suzanne Young, EGM Operational Partnering 11.30 am Webcast restarts 11.30 am Closing remarks and Q&A Main presenters 12.15 pm Lunch Introduction & strategy overview | 8 December 2016 3
Our value proposition Delivering strong shareholder returns Investment Shareholder Value drivers case value • Leading player with scale Through-the-cycle targets advantage in Australia and New • Cash ROE 1.5x WACC Zealand (low single digit growth) Fuelling drivers • High dividend (60-80% of • Focused Asian growth (short to medium term) cash earnings payout) opportunity – large player in our • Top quartile TSR chosen markets (high single digit growth) • ~10% compound EPS growth Leading drivers • Digitally-enabled insurer that is (longer term) customer-led and data-driven • Innovation in capital management • Improved efficiencies Introduction & strategy overview | 8 December 2016 4
Strategic context Our purpose, opportunity and promise Our purpose Our opportunity Our promise We make your world Embrace Inspiring customer a safer place innovation experiences Introduction & strategy overview | 8 December 2016 5
Driving customer and business benefits Two strategic themes Leading Fuelling 1. Digitally-enabled 1. Operational effectiveness customer experiences 2. Supply chain utilisation 2. Partnering for success and efficiency 3. Customer-influenced 3. Portfolio optimisation innovative offerings 4. Product and technology 4. Shared value investments simplification 5. New ventures and incubation 5. Innovative capital management Introduction & strategy overview | 8 December 2016 6
Operating landscape Predictive trends Environment Customer Technology • World awash with capital • Demographic shifts • Computing power, automation and connectivity • Continual regulatory change • Shifting preferences / unlocking value chain needs to get the best from • Climate change • Automated vehicle service providers technology • Increasing digital interaction • Technology-driven risk revolution Introduction & strategy overview | 8 December 2016 7
Our strategic framework Preparing IAG for multiple futures Customer engagement Deepen customer intimacy Partner selectively Optimise core Modularise platform Operational effectiveness Introduction & strategy overview | 8 December 2016 8
Optimise core Fuelling by simplifying / optimising Customer engagement Deepen customer intimacy Partner selectively Optimise core • Drive increased simplification and scalability • Supply chain utilisation and efficiency • Become an agile organisation Modularise platform • Deliver inspiring customer experiences Operational effectiveness Introduction & strategy overview | 8 December 2016 9
Deepen relationships Leading with customers Deepen customer intimacy • Digitally-enabled customer experiences Customer engagement • Needs-based customer propositions Partner selectively • Ecosystems of adjacent services • Data-driven targeted marketing Optimise core Modularise platform Operational effectiveness Introduction & strategy overview | 8 December 2016 10
Modularise platform Creating value closer to the customer Customer engagement Deepen customer intimacy Partner selectively Modularise platform • Derive maximum value from each component of the value chain • Partner for capability in areas that are not a competitive advantage Optimise core • Offer steps in the value chain on a fee-for-service basis where they strengthen our competitive advantage Operational effectiveness Introduction & strategy overview | 8 December 2016 11
Partner selectively Accessing and strengthening capabilities Partner selectively • Target partners that complement or strengthen our capabilities Customer engagement • New ventures and incubation Deepen customer intimacy Optimise core Modularise platform Operational effectiveness Introduction & strategy overview | 8 December 2016 12
How we are organised Strengthening our common capabilities Customers Product design, marketing, Customer and Digital Labs innovation, experience design Australia New Zealand Asia Sales and service Consumer | Business Fulfilment Operations, including Claims and Supply Chain People, Performance & Reputation, Enablement Legal, Finance, Technology Introduction & strategy overview | 8 December 2016 13
Customer Julie Batch Chief Customer Officer
Our customers’ worlds are changing And we are well positioned to respond Super-computers Everything Power People The rules are on tap has been digitised is shifting are connected are changing Mobile phones mean Artificial intelligence The cloud allows Everything that Social and pervasive we are constantly and automation are anyone to access we could possibly technologies are contactable and changing how we work, super-computing power know today is blurring boundaries and continuously transmitting play and interact with from anywhere available digitally increasing transparency and receiving data each other Customer Labs was formed to respond to these changes, bringing together our unique capabilities to create deeply personalised and differentiated products and experiences for our customers Customer | 8 December 2016 15
Customer-led products and experiences New products developed by listening and responding to our customers Creating new opportunities Powered by smart teams New thinking derived from collaboration of diverse teams for IAG with customers and partners Blending art, psychology, Creating new methods engineering and science New approaches to analysis, design and execution to to inspire our customers uncover new truths and deliver faster customer value In an open world A sound application of ethics will underpin our success in an increasingly open world Customer | 8 December 2016 16
Customer Digital Data Customer Labs Customer Marketing Analytics Labs Bringing capability together to shape customer-experience strategy and innovation Venturing Design Innovation Customer | 8 December 2016 17
Placing customers at the centre Understanding whole-of-customer needs and leveraging the power of data Customers Our business Understanding people Understanding what and what they value drives value at IAG Individuals and families Brands Initiatives IAG’s customer -centric Organisations Communities Our people Our shareholders information universe Assets Our world Understanding the things Understanding the world we use and enjoy we live in, and the causes and consequences of risk within it Tangible assets Global Regional Local Intangible assets Utilities Customer | 8 December 2016 18
Embracing innovation Entrepreneurial mindset, drawing on research initiatives, universities, start-ups Inputs Product innovation process Outputs External Disruptive New and Researchers, students, entrepreneurs, start-ups technology enhanced products and processes Venturing Product Funnel Discover and Launch Scale experiment New business Ideas labs units Internal Business units, JV partners, supply chain, customers Internal Start-up talent businesses Overall Impact on culture Attract people Build STEM capability, market intelligence, financial return outcomes Customer | 8 December 2016 19
Delivering new value Resulting in 25+ new partnerships, products and collaborations Indonesia ride share opportunity Customer | 8 December 2016 20
Accelerating our development New initiatives, including launch of $75m IAG Ventures fund Customer Value chain New pathways understanding disruptors to market e.g. e.g. e.g. Internet of things, Artificial intelligence, Peer-to-peer and new data and robo-advice the sharing economy applications and cyber 21 Customer | 8 December 2016
Optimisation Mark Milliner Chief Operating Officer
Optimisation Simplifying the business to achieve more with lower costs Operations Enabling and empowering Powering IAG’s strategy IAG’s strategy Operational Customer excellence experience Leveraging scale in Enabling faster claims, supply chain response times and and partnerships new digital experiences Optimisation | 8 December 2016 23
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