Catherine Pettitt

Young insurance professionals will meet with current industry heavyweights in a series of events aimed to foster the next generation of industry leaders.

The Generation i: Leaders of the Pack afternoon workshop series, an initiative of the Australian and New Zealand Institute of Insurance Finance’s Gen i program, will see under 35s given the opportunity to meet with industry figures in five cities across Australia.

“These events are based on small group conversations where discussion is open, frank and relaxed. Each leader will meet with around nine under-35s to talk about career progression, skill building, how to overcome challenges, how to lead and anything else that might be on the minds of the attendees. This is about helping the next generation of insurance leaders to learn, develop confidence and gain valuable advice on how to move forward in their insurance careers,” said Catherine Pettitt, Chair of the ANZIIF Gen i Council.

The events are part of the Institute’s work to foster the next generation of insurance talent and to aid with talent retention and skills development among young people, said David McKinnis, CEO of Insight Australia Group, one of the 60 industry leaders who will participate.

“These Gen i events are an outstanding initiative which provides aspiring young professionals an excellent forum to not only meet with like-minded individuals, but also to interact and learn from senior insurance figures about their success and how to avoid potential pitfalls in order to have a successful, fulfilling and rewarding career.  I also know that the industry leaders involved are not only excited about meeting the future leaders of our industry but are always impressed with the quality, enthusiasm and passion of the attendees.”

The workshops will be led by Executive Coach, Sue Zablud,a Director of Human Asset Development Group.

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Productivity Commission in a panel forum to discuss the future of natural disaster funding.

The Productivity Commission will meet insurance industry leaders in a panel forum to discuss the future of natural disaster funding in Australia, the Australian and New Zealand Institute of Insurance and Finance (the Institute) has announced. The panel will follow the Commission’s preliminary report, which will be released this month.

Karen Chester, the Commissioner responsible for the public inquiry into Natural Disaster Funding, will participate in the event with representatives from insurers and the Insurance Council of Australia.

“A significant part of Australian insurance could be affected by recommendations coming from the Productivity Commission report. This is the industry’s opportunity to understand how natural disaster funding might change and, very importantly, to have its views on this very important subject heard by those who are advising the Federal Government,” said Prue Willsford, CEO of the Institute.

In 2014, the Australian Government asked the Productivity Commission to undertake a public inquiry into current national natural disaster funding arrangements, taking into account the role of and future of insurance, natural disaster mitigation and the reduction in the impact of disasters on communities.

The panel will include:

• Karen Chester – Commissioner, Productivity Commission
• Nicholas Scofield – General Manager, Corporate Affairs, Allianz Australia
• Karl Sullivan – Insurance Council of Australia
• Lisa Harrison – Executive General Manager, Customer Product and Pricing, Suncorp
• Stephen Brunker – MC / Host – Treaty Account Executive at Gen Re

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Prue Willsford

The Australian and New Zealand Institute of Insurance and Finance (the Institute) and ICNZ are pleased to announce the opening of submissions for the 2014 ICNZ & ANZIIF Scholarship.

The Scholarship, which involves the submission of a 2,500 word essay on a prescribed topic, aims to recognise a New Zealand insurance professional with outstanding business and leadership skills. It offers a prize of NZD$10,000 to attend an international industry or leadership conference or seminar program.

“We are thrilled to offer this once in a lifetime opportunity to a member of the New Zealand insurance community. This Scholarship will not only enhance the winner’s understanding of the industry in a global context but will help them to develop their leadership skills and allow them to represent New Zealand among their international counterparts,” said Tim Grafton, ICNZ Chief Executive.

Prue Willsford, CEO of the Institute, emphasised the role of the Scholarship in supporting up and coming industry professionals.

“Insurance is global business where engagement with developments internationally and excellent leadership skills are indispensable. The ICNZ Scholarship aims to ensure that we foster the next generation of insurance leaders and give them the support they need to develop their skills, knowledge and passion for the industry,” she said.

Applications for the ICNZ & ANZIIF Scholarship close at 5.00pm Auckland time on Friday 7 November 2014. For more information visit the ANZIIF website.

To be eligible, applicants must be:

• a direct employee of a member of the ICNZ
• citizens or permanent residents of New Zealand
• under the age of 35 years.

The winner will be announced at the 2015 Celebrating Success Awards Dinner in New Zealand.

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Noelene Palmer

The Australian and New Zealand Institute of Insurance and Finance and Finity Consulting are pleased to announce Noelene Palmer of Swiss Reinsurance Company Ltd as the winner of the Peter Corrigan International Scholarship for 2014.

Ms Palmer was awarded the scholarship for her essay “How does the entry of Coles and Woolworths into personal insurance impact the market? Are there any implications for commercial insurance?”

“Noelene demonstrated a comprehensive knowledge of the Australian insurance market and the impact Coles and Woolworths are making on personal insurance lines. Her research validates the qualities that the Peter Corrigan International Scholarship celebrates – deep industry insights and leadership. This award continues to acknowledge Peter’s exceptional contribution to the industry and provides an inspirational opportunity for Noelene to strengthen international networks and engage in a unique learning opportunity,” said Estelle Pearson, Principal and Managing Director of Finity Consulting.

Prue Willsford, CEO of the Institute and judging panel member, also congratulated Ms Palmer on her award. “Noelene’s essay showed insight and engagement with macro and micro issues in personal insurance and intelligent consideration of where the industry is heading. It is this level of thinking that will allow our industry to continue to go from strength to strength,” she said Ms Palmer, who received her scholarship at the Australian Insurance Industry Awards on 20 August, said she felt honoured to be the Peter Corrigan Scholarship winner for 2014.

“While I didn’t know Peter Corrigan, by all accounts he was a wonderful man and leader, and it is an honour to have won this scholarship in his name. I am excited by the opportunity this provides to undertake some international study, which I hope will enhance my contribution as a leader in the insurance industry.”

Scholarship applicants were required to submit a 2,500 word essay on one of five topics. The bi-annual scholarship offers winners $10,000 to attend an international insurance seminar or conference.

The Peter Corrigan International Scholarship recognises and supports international insurance professionals in the professional environment. The Scholarship honours the significant contribution Peter Corrigan (1955–2002) made to the insurance industry and is supported by Finity Consulting
and the Australian and New Zealand Institute of Insurance and Finance.

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Prue Willsford

The Australian and New Zealand Institute of Insurance and Finance and founding partner Asia Insurance Review are pleased to announce the winners of the 2014 Australian Insurance Industry Awards. The winners were honoured at a ceremony in Sydney last night.

Winners included Allianz Australia for Large General Insurance Company of the Year, Aon as Large Broker of the Year and CommInsure as Life Insurance Company of the Year. Small and medium-sized enterprises were well represented, with National Transport Insurance (NTI) taking out two awards. The Innovation of the Year prize awarded two winners, CelsiusPro(Aust) Pty Ltd for farm insurance products for the developing world and Gratex International for developing operations and business systems.

Prue Willsford, CEO of the Australian and New Zealand Institute of Insurance and Finance, said there was significant emphasis on customer service and satisfaction from all who submitted for the Awards.

“Every year we see insurers and those operating in the insurance market focus more and more on customer service, responsiveness to customer needs and customer retention. We judge the Awards on a number of factors including innovation and achievement, but the fact that the industry is focusing so much on the consumer shows that despite operating in extremely difficult circumstances, companies want to keep their policyholders happy.”

“These Awards are about recognising excellence but they are also about celebrating being part of a collegial, supportive professional community that does its utmost to produce great results,” Ms Willsford said.

The full list of winners is:

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Prue Willsford

The Australian and New Zealand Institute of Insurance and Finance (the Institute) has launched an unprecedented national survey to identify trends in hiring, skills shortages and staff retention in insurance. This is the first time the knowledge, insights and experiences of human resources and management will be pooled for the common good of the industry.

Launched yesterday, the Careers in Insurance Survey is directed at human resources executives and senior management. The insider knowledge of the respondents will provide a comprehensive overview of industry trends, practices and areas of concern.

“There has long been talk about the industry’s struggles attracting, developing and retaining staff. This is the first stage of an initiative that will help us to determine whether there really are areas related to working in insurance that need our attention. This Survey is integral to finding out whether we have any weak spots and, if we do, will provide the platform for us working together to do something about them,” said Prue Willsford, CEO of the Institute.

The industry-wide initiative, spearheaded by the Institute and Daniel Fogarty, CEO of Zurich Insurance, is supported by the Insurance Council of Australia and the National Insurance Brokers Association. The collaboration reflects the importance of the research to ensuring the staffing and talent needs of the industry can be met.

“We are calling on human resources managers and management-level staff to complete the Survey. Insurance is one of the most vital parts of the Australian economy. We need to continue to attract high calibre candidates, train them well and develop them for the future needs of the industry. This Survey is the first step in us doing that,” said Mr. Fogarty.

“The ICA is collaborating with NIBA and ANZIIF to deliver an industry-wide initiative that highlights the significant benefits of a career in insurance. Our industry has much to offer, with a broad range of career choices, and initiatives such as the Careers in Insurance survey provide us with key insights and will help us direct better targeted career programs. Financial services is a competitive employment sector and we want insurance to be ahead of the pack, to be the employer of choice,” ICA CEO Rob Whelan said.

Human resources professionals and management-level staff working in insurance will receive the Careers in Insurance Survey via email . Those wishing to participate who do not receive it are invited to contact the Institute by emailing: customerservice@theinstitute.com.au.

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Prue Willsford

The Australian and New Zealand Institute of Insurance and Finance (the Institute) has received unprecedented interest in a tailored update for insurance professionals following the launch of the new General Insurance Code of Practice.

The new Code, launched by the Insurance Council of Australia last week, is an attempt by the industry to self-regulate to avoid government-enforced regulation. In order to support insurers to implement the Code, the Institute is offering insurance professionals a tailored course on the update.

“The very significant interest in and take up of the Institute’s update of the Code of Practice shows us that the industry not only wants to self-regulate, which is understandable in such a red-tape-heavy industry, but that it recognises the degree of responsibility every insurance professional has in dealing with customers. With the Institute’s role in setting and monitoring professional standards, we are thrilled that the industry is supportive of a Code that is so customer-focused,” said Prue Willsford, CEO of the Institute.

The new Code’s key features include:

• Stronger and more detailed obligations on Code signatories to provide assistance to consumers in financial difficulty
• Clear guidance and timeframes on insurance claims and complaints processes for consumers.
• Specifically written in plain, easy-to-read English

The Institute says insurers have expressed an eagerness to have staff achieve compliance as quickly as possible despite a one-year transition period to the new Code.

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Prue Willsford

The Australian and New Zealand Institute of Insurance and Finance (the Institute) and founding partner the Asia Insurance Review are pleased to announce the finalists of the 2014 Australian Insurance Industry Awards.

This year, the Institute received a record number of submissions for 15 categories, ensuring a highly competitive selection process.

“The Institute, Asia Insurance Review and the Awards judging panel were thrilled with the number and quality of submissions for this year’s awards. In selecting our finalists, it was clear that Australia has a high achieving, innovative and dynamic insurance industry. This can only be a good thing for our industry, our community and our economy,” said Prue Willsford, CEO of the Australian and New Zealand Institute of Insurance and Finance, the Award host.

The finalists for each category are:

Claims Provider of the Year

• CGU
• National Transport Insurance (NTI)
• Suncorp Group
• Swiss Re

Underwriting Agency of the Year

• Brooklyn Underwriting
• GT Insurance
• UAA

Service Provider to the Insurance Industry

• Gratex International
• JB Hi-Fi
• Taylor Fry

Innovation of the Year

Budget Direct

• Celsius Pro (Aust) Pty Ltd
• Gratex International
• Insurance Box and SSP

ANZIIF Women’s Council Employer of the Year

• Allianz Australia
• Suncorp Group
• Swiss Re

Generation I Youth Development and Employer of the Year

• Aon
• BT Financial Group
• Sportscover

Small Broker of the Year

• Consult Insurance Solutions Pty Ltd
• Parmia Insurance
• Simplex Insurance Solutions

Medium Broker of the Year

• Planned Cover
• Roderick Insurance Brokers Pty Ltd
• Scott Winton Insurance Brokers

Large Broker of the Year

• Aon
• Marsh
• Willis Australia

Small – Medium General Insurance Company of the Year

• CommInsure
• National Transport Insurance (NTI)
• Westpac General Insurance Limited

Large General Insurance Company of the Year

• Allianz Australia
• Suncorp Group
• Zurich Australian Insurance Limited

Law Firm of the Year

• Barry.Nilsson. Lawyers
• DLA Piper
• HWL Ebsworth Lawyers

Life Insurance Company of the Year

• AIA Australia
• CommInsure
• MLC

The winners will be announced at the Australian Insurance Industry Awards in Sydney on 20 August 2014.

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