Page 14 - Australasian Paint & Panel Magazine Sep-Oct 2020
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                                     SUNCORP RESULTS
said it had been a challenging 12 months, with a season of extreme weather condi- tions and then the global COVID-19
Suncorp reported full-year net income
of $913m, up from $175m last year, but acknowledged comparisons are difficult given the sale of its life business and crash repairer Capital SMART. Insur- ance profit after tax was $384m.
Cash earnings of $749 million were down 32.8% on the previous corre- sponding period, partly as a result of re- duced profit from the Insurance Austral- ia division (down 33.9%).
Johnston said that while the COV- ID-19 pandemic would have long-lasting health and economic implications, it had presented opportunities to accelerate the pace of organisational transformation.
“The growing preference for digital and reliance on technology is shifting the way we work and the way we sup- port customers,” he said.
“Our teams embraced more agile ways of working to fast-track digital solutions including enhanced webchat capabili- ties, online claims functionality and vir- tual claims assessments.
recorded a 39.5% drop in insurance profit and a 56.6% fall in net profit after tax. FY20 profits were $565m versus $1,389m in FY19 although that figure in- cluded a number of divestments includ- ing the insurer’s Thailand operations for $200m.
Repairhub was mentioned in the report. 'As part of its enhanced motor repair mod- el, IAG has established two new businesses to deliver improved customer experience:
'The business commenced operations in April 2019 and presently covers seven sites in metropolitan centres, with planned expansion to double its footprint in FY21
"In February 2020, IAG completed the acquisition of the MotorServe business to perform both its existing car servic- ing activities as well as customer hub functions. Customer hubs will provide a one-stop shop for customers... bringing together a range of services to include vehicle assessment, improved repair ex- perience as well as onsite mobility op-
tions. There are presently six customer hub sites in operation with plans to ex- pand to a further ten sites in FY21.'
It went on to say that further improve- ment to the overall claims experience has been achieved via:
• Continued enhancements to digital
lodgement capability
• Increased use of the pay online plat-
• Implementation of the Re-imagined Mo-
tor Total Loss experience using machine learning to predict total loss claims at time of lodgement with above 90% ac- curacy, and provide information to cus- tomers early in the claim process
• Planned expansion of Repairhub and MotorServe businesses
• Automation-driven efficiency, with exam- ples being automated customer responses and the use of a Virtual Assistant to assist with digital claim lodgement;
• Claim processes simplification to fast track claims management and provide additional support to customers.
                 BOMBS AWAY
A piece of Royal Australian Air Force (RAAF) history has been refurbished in preparation for the 2021 Australian International Airshow with support from PPG.
Originally built at the Government Aircraft Factory (GAF) in Avalon in 1956, the Canberra Bomber (serial number A84-232) went on to serve with No. 2 RAAF
Squadron, eventually retiring from service in 1982. The six-month restoration project, which began in December 2019, took place within the very hangar where A84-232 was built in 1956.
PPG provided a combined 120 litres of DESOPRIME HS CA7700 primer with ‘B’ Activator and DESOTHANE HS CA8000 polyurethane topcoats in a colour palette of extra dark sea grey, olive drab and black.

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