Suncorp plans digital-first products with new customer and digital structure

New operating structure brings together marketing and technology and results in the departure of Pip Marlow

Suncorp has announced a new customer and digital structure as part of its 2019 financial year results presentation.

The new arrangement will bring together the ASX-listed insurance and finance group's marketing, digital, customer and strategy functions to work alongside its technology team with the goal of creating digital-first products in its insurance and banking businesses. Suncorp also noted its local contact centres, stores and distribution teams will be aligned with its banking and insurance operations.

As a result of the changes, CEO customer marketplace, Pip Marlow, who has been in the position since March 2017, is departing Suncorp. The new function will be led by Lisa Harrison in the role of chief customer and digital officer, who has been with Suncorp for 15 years, most recently as chief program excellent officer.

“The new function will leverage the proven expertise of our Technology Data and Labs team to take our customer and digital strategy to a new level, enabling us to embrace all of the opportunities that digitisation offers our customers and business,” acting CEO, Steve Johnston, said in a statement.

On its financial position, Suncorp reported a net profit after tax (NPAT) of $175m in the year 30 June 2019, including a $910m after-tax non-cash loss on the sale of the Australian Life Insurance business, a drop from the previous financial year. In addition, the business delivered a cash profit of $1.115 billion, up 1.5 per cent from the 2018 financial year. 

The dip in full-year performance was attributed to key home, motor and mortgage lending portfolios, against improved margins across commercial insurance. Johnston noted the year had been dominated by the Financial Services Royal Commission, higher natural hazards and a significant increase in regulatory costs. 

Suncorp has a long-term plan which has seen it bring together all its brands in one marketplace. The ‘One Suncorp’ strategy, announced back in 2016, brings together five previously separate businesses into one place on a common digital platform for customers. It also launched the Suncorp App in 2018 to provide a single digital customer experience and created seven ‘ecosystems’ or integrated offers, to allow customers to bundle complement solutions with a focus on motor and home.

On the marketing front, Suncorp has this year launched several new campaigns which demonstrate how the financial services and insurance group is handling the job of promoting its distinct brands by connecting to its very diverse customer base. At the time, executive general manager, brand and marketing, Mim Haysom, told CMO the key to all Suncorp's campaigns for its diverse range of brands and customers is authenticity.

“It is about greater opportunities to create contextual relevance and extension and to give a reason for the brand to be in there. You get relevance, integration and content extensions that are a far more effective way to spend our money than just spots and dots.”

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, follow our regular updates via CMO Australia's Linkedin company page, or join us on Facebook: https://www.facebook.com/CMOAustralia.  

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Launch marketing council Episode 4: Disruptive category launches

Our multi-part video series, Ready to Launch, is focused on unlocking the secrets of launching brands, products and services by exploring real-life examples from Australia’s marketing elite. The series is being produced as part of the Launch Marketing Council initiative by CMO in conjunction with Matt Lawton, MD at independent agency, Five by Five Global.

More Videos

Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...

Marcus

10 lessons Telstra has learnt through its T22 transformation

Read more

Check out tiny twig for comfy and soft organic baby clothes.

Morgan mendoza

Binge and The Iconic launch Inactivewear clothing line

Read more

NetSuite started out as a cloud-based provider of Enterprise Resource Planning software or as NetSuite solution provider, which companies...

talalyousaf

NetSuite to acquire Bronto's digital marketing platform for US$200m

Read more

Thanks for sharing this post, its really good information I get through this blog.CDPO Online Exam Training

Infosectrain01

3 ways Booking.com is improving its B2B marketing game

Read more

Time is of the essence, especially for customer service teams. With chatbots, you can interact and assist customers at a larger scale, al...

Jai

Triple-digit customer database growth, personalised engagement become reality for Stone & Wood

Read more

Blog Posts

​Beyond greenwashing: Why brands need to get their house in order first

Environmental, Social and (Corporate) Governance is a hot topic for brands right now. But before you start thinking about doing good, Craig Flanders says you best sort out the basics.

Craig Flanders

CEO, Spinach

​The value of collaboration: how to keep it together

Through the ages, from the fields to the factories to the office towers and now to our kitchen tables, collaboration has played a pivotal role in how we live and work. Together. We find partners, live as families, socialise in groups and work as teams. Ultimately, we rely on these collaborative structures to survive and thrive.

Rich Curtis

CEO, FutureBrand A/NZ

The forgotten art of Acceptor/Rejector Analysis

The way we analyse brand health market research is wrong.

Zac Martin

Planning director, Ogilvy Melbourne

Sign in