Insurance Australia Group (IAG) has revealed it is repositioning its Intermediated Insurance Australia (IIA) division, aimed at consolidating specialist expertise within its operations.
The restructuring aims to “improve responsiveness and uplift the service experience for its brokers, partners and customers”, stated IAG.
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This move is intended to enhance underwriting, product development, pricing strategies and claims management for its CGU and WFI Insurance brands.
The repositioning has led to a reshuffle of IIA’s executive team.
Fiona Geddes has been appointed as executive general manager operations, bringing with her more than 27 years of experience in financial services, including her most recent role as chief operations officer at ING.
Damien Gallagher has been promoted to executive general manager CX & Growth CGU & WFI, tasked with overseeing the growth and brand strategy for both insurance brands.
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By GlobalDataAdditional appointments include Darren O’Connell as executive general manager underwriting & product, Tim Rafton as executive general manager intermediated claims, Christa Marjoribanks as chief financial officer, and Natalie May as executive manager of people & culture.
Andrew Beer, who previously held the position of executive general manager WFI, will be leaving IIA after a 40-year career.
CGU & WFI Insurance CEO Jarrod Hill said: “This is a pivotal moment for our business as we make a material change to the way we operate. We recognise that to achieve our future growth ambitions and maintain pace with the changing marketplace, we must evolve and significantly uplift our capabilities.
“By creating a more agile, innovative and customer-focused business, we will be better placed to deliver on our core purpose, address affordability and respond to the current and future risk needs of our brokers, partners and customers.”
In November 2024, IAG signed a deal to acquire 90% of Royal Automobile Club of Queensland’s insurance underwriting business.
In February this year, the Australian Competition and Consumer Commission raised concerns about the potential impact of the deal on personal lines general insurance and ancillary repair services.
