Changing it up: Steve Johnston
T
he COVID-19 pandemic continues to hurt Australia’s society, economy and insurance industry. While the scale of the damage is not yet clear, Suncorp Group Chief Executive Steve Johnston is determined to see positives, and equally determined to capitalise on them. The major insurer last month announced a dramatic shift in the way its insurance division is organised. Former Insurance Chief Executive and industry stalwart Gary Dransfield has left the group, with leadership of the division now split in two. Lisa Harrison, previously Chief Customer & Digital Officer, has been appointed to the new role of Insurance Product and Portfolio Chief Executive, encompassing distribution channels, customer strategy, brand and marketing, product and pricing and innovation. The new role of Chief Operating Officer – Insurance is being taken up by Paul Smeaton, who has led the Suncorp New Zealand business for the past five years. Mr Johnston says while he’d been contemplating such changes “for some time”, COVID-19 “sped up the desire” to implement them – because Suncorp believes the current environment offers a unique transformation opportunity that cannot be missed. “It really comes off the back of what we see as a defining moment for financial services, which is the pandemic and the response to the pandemic,” he told Insurance News. “We’ve been able to do things faster and cheaper than we’ve ever been able to do before. So these changes to the insurance business will allow us to significantly
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insuranceNEWS
August/September 2020
