Insurer IAG has announced plans to slash its headcount and consolidate its core claims and policy handing units from 32 platforms to two, as it seeks to cut costs by at least $250 million a year.“The world has got tougher but we still see
considerable opportunities,” CEO Peter Harmer told investors meeting in
Sydney. “All of this combined will generate significant savings,”
Harmer said.
The planned “digital transformation” would see the company
consolidate its core claims and policy handing units from 32 platforms to two,
and standardise on the GuideWire ClaimCentre software for its core claims
platform, Harmer said.
IAG introduced ClaimCentre to its CGU division in 2010, and later inherited the
software as part of its June 2014 acquisition of Lumley Insurance. COO Michael
Milliner said IAG now plans to extend the software to the remaining parts of
its business across A/NZ in order to centralise onto a single platform by June
2018.
