Innovation Group launched its rebranding today, which included a new visual identity for the Group, employee values and a new corporate website.
Commenting on the rebrand Tim Griffiths, Group CEO of Innovation Group, said: “Following the development of Gateway, our strategic platform, we are pleased to launch the rebranding of Innovation Group. The new brand reflects our status as a technology platform business supported by a world-class services capability.”
Gateway will revolutionise the claims experience for users and deliver benefits to clients by connecting their core systems and data environments with the supply chain.
Further detail on the Gateway technology platform is available here.
Big Data has been a topical issue for a number of years and as the need for integration increases so too does the need for adequate data storage and analytics. Data is a key driver within the Insurance industry as it forms the base on which key underwriting, claim and pricing decisions are made – whether it is new product development, product enhancements, product continuity or premium adjustments. As such, data integrity and accuracy is imperative.
In an industry marred by legacy issues, disparate storage and ineffective system integration the need for data cleansing and analytics is becoming vital to ensure future competitiveness.
But where does this process start?
Current legislation is being driven towards an empowered consumer. This consumer has a variety of choices and options, for which insurance companies must cater. As a result, data cleansing is essential, but it is vital to ensure that cleansed data conforms to a set standard.
The data cleansing process typically involves identifying, correcting and removing corrupt or inaccurate data from a database. In this process, the data to be cleansed needs to be identified. Following this, the necessary data firstly needs to be obtained and archived, and then replaced with current or up-to-date data. The updated data then needs to be standardised. Revisiting validation rules, which is the criteria used in the processing of data, is a necessity.
There have been significant advances in this regard. System solution providers are using validation rules for data capturing of information associated with products and policyholders, using structured processes. High value exists in this unstructured and semi-structured information, as it is an untapped resource for insurance companies.
Contributing to the existing challenge is the fact that, historically, there was no set of pre-existing industry rules. In order to rectify this, industry standards will need to be defined, agreed, formalized and complied with in the future.
In future, data cleansing may not be a major task if validation rules for applications are robust and comprehensive. From the beginning, data cleansing must result in data that can be imported or exported in a standard format. This idea for conformity will be further supported by the incoming Protection of Personal Information Act (POPI) legislation.
The significance of data cleansing cannot be ignored. The overall process may involve a degree of manual intervention to obtain the latest and most up-to-date information from consumers. But the value from this process translates into immediate benefits, such as improved and professional Customer Relationship Management (CRM), accurate premium structures and efficient claims processes.
The effective incorporation of data cleansing and validation rules can be achieved through the establishment of an industry committee. However, the organisations involved in this committee must be open to collaboration with competitors and business-to-business (B2B) partners. In the end, the aim will be the agreement by the industry to data standards at a database level, which will enable data to be secure, with no compromise in data integrity and ultimately a more effective use of data.
Innovation Group is pleased to announce the appointment of Malcolm Noyle as Key Account Manager.
With over 30 years’ experience in the Fleet and Insurance industry, Malcolm is a seasoned professional with a strong background in project management, strategy execution and business development. He has held senior roles at General Motors, Fleet Partners, and car sharing and mobility with Car2Go. His most recent role was City Manager at Smove Systems.
Malcolm will be working closely with the Innovation Group sales team to strengthen relationships within our key clients as well as developing strategies to on-board new clients and partnerships.
Commenting on his appointment, Drew Schnehage, Managing Director of Innovation Group Australia, said: “We are delighted to welcome Malcolm to our team. With his extensive industry experience, Malcom already has a good understanding of our clients’ requirements and will play a key role in ensuring we continue to understand and satisfy our clients’ needs.”
Malcolm added: “I am excited to be joining Innovation Group and look forward to building on the strong relationships that they already have and working with their clients to deliver great success and outcomes”
Innovation Group is pleased to announce its continued partnership with Tourism Holdings Limited (THL) following a successful 10-year relationship.
Innovation Group, a leading provider of accident claims management, will continue to exclusively provide end-to-end claims services to THL’s fleet of holiday rental vehicles.
THL General Manager, Kate Meldrum, said: “We are delighted to be continuing our longstanding relationship with Innovation Group. As the claims handler for THL, we rely on Innovation Group to help manage our vehicle repairs and ensure our rental operation runs smoothly across Australia. Drew and her team operate an outstanding service and we sincerely appreciate their support.”
Drew Schnehage, Managing Director at Innovation Group says, “At Innovation Group, we strive to deliver cost savings, additional efficiencies and exceptional service to our clients and our continued partnership with THL is a resounding endorsement of our claims capabilities. We are thrilled to have been a successful part of THL for the last decade, and we look forward to growing our relationship for many years to come.”
Innovation Group is pleased to announce the appointment of Drew Schnehage as Managing Director, Australia.
Drew, who has close to 30 years’ experience in the financial services industry, has been interim Managing Director since January 2019. She joins the team from Innovation Group South Africa where she headed up the commercial division in 2017. Prior to that, Drew was the CEO of Aquarius Underwriting Managers, a specialist UMA and multiple industry award recipient. Following on an acquisition by Hollard in 2014, Drew took on the responsibility of General Manager for personal lines and distribution.
Congratulating Drew on her appointment, Andries Van Staden, Group Chief Operating Officer, said: “We are delighted to announce Drew’s appointment within Innovation Group. Drew is a trusted and respected industry leader, and her proven track record and extensive experience will be invaluable in leading and supporting our Australian business”.
Drew commented: “I am thrilled to be joining the team in Australia and I can’t wait to be part of the growth journey ahead. I am excited by the opportunity to lead the business into its next phase of transformation and I look forward to continuing the great work already established by the team.”
Drew will be relocating to Melbourne, Australia with her family in June 2019.
Dealers to strengthen personal development for employees and boost business success
EMaC, the UK’s leading provider of Service Plan and consumer retention schemes to the automotive industry, is investing in its commitment to dealers with the launch of The EMaC Aftersales Academy. The all new – free – training programme, has been designed specifically for motor dealers to help them maximise aftersales opportunities for the benefit of the business, employees and consumers alike.
The launch of The EMaC Aftersales Academy will support dealers in equipping their teams with the right tools and knowledge to drive and build on consumer retention for the ongoing success of the business. It includes on-site workshops, webinars, incentives, hosted events and awards for star performers. The modules offer interactive group activities, discussions and self-directed learning to meet a range of learning styles and support an individual’s personal development.
To shape the Academy’s content, EMaC has drawn upon its experience of managing a live book of 1.7 million consumers and working with more than 2,000 dealers. Prior to its launch, EMaC conducted a pilot with its own employees to enable it to test and fine tune the training modules. This feedback was key in ensuring the content is relevant, engaging and accessible. Crucially, The EMaC Aftersales Academy has been designed to fit alongside a dealer’s own training programme, to fully maximise its return.
Snows Group, with over 50 franchised dealerships across the South and South West of England, is one of the first groups to participate in the EMaC Aftersales Academy. Director, Phil Maddison, explains: “We work hard to continually support a motivated team at Snows, enabling individuals across our franchises to be confident in delivering on our key strategic objectives. Without them, our business would not be the success it is, so it is vital that we give them something back. The new EMaC Aftersales Academy helps us achieve this.
“The training has been incredibly well received by everyone at every level. EMaC has delivered a holistic training programme that will benefit every element of our aftersales activity.
The staff members involved have also broadened their own skillset and the learning will contribute significantly to their ongoing personal development.
“We will definitely look to repeat this experience, with competition already mounting amongst employees to claim the ‘Rising Star’ and ‘Training Excellence’ awards.”
Colette Murray, Learning and Development Coordinator at The RRG Group, adds: “Here at The RRG Group, we have been working with Emma Sidley-Wiltshaw from EMaC on its new EMaC Aftersales Academy Development Programme for almost three months. We handpicked a selection of Senior Service Advisors from across the Group to attend four workshops over a four-month period. So far, they have attended two of the four workshops and the feedback has been really positive.
“All of the workshops have included new innovative ways of looking at positive experiences for our customers. Emma creates a great environment in which to learn and in turn this has resulted in full participation from all the delegates. Everyone has created ‘Learning Logs’ in order to take away action plans to develop back in the workplace. We are looking forward to the next one!”
Emma Sidley-Wiltshaw, EMaC’s Learning and Development Manager, concludes: “We understand the motor industry and the day-to-day challenges that dealers face. Market competition and consumer demands can distract the business from focusing on what’s needed to retain valued staff members.
“The EMaC Aftersales Academy has been designed to support our clients’ key assets, their people, by delivering an extensive learning and development programme. We are investing in supporting the success of our clients so that the only thing they need to invest in, is the time and commitment of their people.
“We are hugely excited to be launching The EMaC Aftersales Academy and working with dealers and their employees to enable them to reap the rewards the training delivers, both personally and professionally.”
On Friday 8 February 2019, Innovation Group North America announced the promotion of Courtney Watts to Vice President: Insurance Operations.
Courtney joined Innovation Group in 2008 and has held various senior and strategic roles within the group. In her most recent role, as manager for the Auto Insurance team, she has lead a strategic transformation of the team which included product change, process and system overhauls, technology adoptions and off-shoring.
In the newly created role, Courtney will report in to Peter Douglas, North American COO. She will assume overall responsibility for developing the North American property and auto teams whilst exploring opportunities to maximise operational efficiency and delivering exceptional customer service to our clients and partners.
Congratulating Courtney on her appointment, Peter Douglas said: “We are delighted to announce Courtney’s promotion within Innovation Group. Her dedication, passion and experience make her ideally suited for this role. Her focus on operational excellence, people growth and customer service will stand her in good stead in her new position.”
Innovation Group has been listed as 97th overall in the annual Sunday Times Grant Thornton Top Track 250.
Now in its 14th year, the prestigious league table ranks Britain’s top-performing private mid-market growth companies by sales. The year’s 250 companies have generated combined sales of £66.7bn, up 18% from £56.7bn in the prior year. The companies had combined profits of £6.4bn, up 27% from £5bn, and almost two thirds (152) of the companies increased their profit margin.
The 2018 league table is aimed at identifying mid-market growth companies that have expanded by managing risk, choosing the right strategic options and that make a clear contribution to the communities in which they are based.
Making its Top Track 250 debut, Innovation Group was listed as one of four representatives of the insurance industry.
Tim Griffiths, Group CEO of Innovation Group, said: “Innovation Group’s ranking in the Top Track 250 illustrates the continued development of our business on a global scale. We work with many leading international brands in the insurance and automotive sectors and they’re clear that they need us to deliver to their customers wherever they might be in the world. Our breadth of capability and geographic reach gives us a unique appeal to clients and we’re grateful for their support in helping us to reach this important milestone.”
It has four pedestrian crossings, 16 lanes of traffic, four service roads and dozens of traffic lights. It’s an intersection that tens of thousands of vehicles use every single day. But that day, it was the driver of an international power tool company that hit a 14-year-old girl, and ended her life. As if the case wasn’t tragic enough, there were suggestions of a hit-and-run, and the company name was splashed about the media. It was every employer’s nightmare. And it might have been preventable.
Every year, road-related health and safety incidents cost Australian companies $500 million. Out of all the worker-related fatalities, 38% are related to vehicles and driving. And compared to other types of accidents, road-related ones tend to pose the biggest threat in terms of individual harm — injuries from a crash are simply worse than any other type of common workplace injury.
And if those statistics weren’t bad enough, it’s an international problem that goes beyond the workplace. Road traffic injuries are the eighth leading cause of death globally, and the leading cause of death for young people aged 15–29. More than a million people die each year on the roads globally, and the cost of dealing with the consequences of these road traffic crashes runs into billions of dollars.
Something an employee commonly does at home on the couch or in everyday life can be deadly when present behind the wheel. Distraction, inattention, fatigue, mobile phone use, substance use, and even just rushing — are all much riskier when they’re piloting a few tons of steel at high speeds. And yet, the risk behind the wheel still appears low, employees are likely to take shortcuts, and severe consequences do occur.
Employers can no longer afford to get by doing the bare minimum. Legislation dictates that responsibility for employees in road-related situations rests with the employer. This includes those who drive any vehicle for work purposes, those who simply shift cars from time to time, and even sometimes those driving between work and home. After-work drinks before driving home? Employer’s responsibility. A driver that is so fatigued after a shift that he is at risk while driving home? Employer’s responsibility. An employee who uses their own car for work, drives a courier van, uses a pool car, or drives long distance? You guessed it, employer’s responsibility.
Amendments to the Heavy Vehicle legislation were brought out in October which impose stronger obligations to those as part of a ‘Chain of Responsibility’.
What this means exactly is that multiple parties may be responsible for offences committed by the drivers and operators of heavy vehicles, from the employer of the driver, to the person scheduling the run, to the loader and unloader of goods in the vehicle. So, if a driver is found to have broken the speed limit, or driven while fatigued, everyone who was responsible for requiring that driver to undertake a journey in an unsafe manner could be prosecuted under the national law.
The new standard requires all parties to take ‘all reasonably practicable steps to ensure the safety of their transport activities’ which could mean in fact that businesses can be prosecuted for failing to put in place control structures and practices.
And the penalty is no small issue. Apart from the tragic loss of life, injuries, and impact on families and community — the financial risk is significant. If a director is found to not have fulfilled their responsibility, they face fines of up to $300,000 or even imprisonment.
Safe Work Australia summarises steps as identifying hazards, assessing risks, controlling them, and then reviewing measures taken. For road-related hazards, the most important thing that can be implemented is driver training. Drivers need to be provided with the opportunity to improve their skills, know their limits, and practice better risk management and decision making.
Of course, traditional training takes drivers away from their work for extended periods which means extra down-time. It is also often costly, and can be once-off learning that doesn’t use sound psychological principles. It can be a bit of a tick-the-box exercise, which really doesn’t focus on what’s important. Often, the confidence a driver will gain from traditional training will be detrimental – it’s a false confidence, and has been shown to be extremely unhelpful in the context of safe driving. Not to mention that behind-the-wheel training comes with its own set of risks to the participant, and the employers’ budget!
Train your drivers online. The research shows that video simulations used as part of a training programme, translate accurately to on-road learning and application. Data can be gathered on performance and skill level, reporting is more accurate, and the learning is consistently delivered to all participants, rather than relying on conditions on the road that day, or the skill level of the particular instructor.
That’s where Fleetcoach comes in. It’s self-paced adult learning, not just another online ‘test’. It’s been specifically designed to train your drivers in higher-level driving skills such as visual search (active eye-scanning) hazard perception and risk management. Hazard perception directly relates to crash-risk, and risk management teaches better decision-making when things get hairy. It reduces over-confidence, and includes specific and regularly-updated topic-based content on things such as reversing, mobile phone use, and fatigue. Plus, it uses an inclusive and effective wellbeing approach. This means Fleetcoach trains people to get to know their own triggers, to honestly answer questions about risk that applies to them, and also get them thinking about how they can contribute to a company culture that supports safety on the roads. Plus, the skills trained by Fleetcoach are just as applicable to other commercial vehicles as they are to passenger vehicles.
It’s been developed by psychologists and road-safety researchers who are experts in their fields, and is entirely based on scientific research. It’s a solution that works.
Your employees are going to encounter difficult situations on the road. Why not prepare them as best as you can?
We’ll leave you with the words of the National Road Safety Partnership Programme (NRSPP): Ultimately, road safety, both within an organisation and in the community environment, requires leadership, support and willingness to act.
Find out how Fleetcoach and Innovation Group can help your staff become safer drivers by visiting here or emailing au.fleetsales@innovation.group.
The first six rounds of hearings in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry are complete, with the much-anticipated Interim Report now available.
With further hearings scheduled for November 2018 in both Sydney and Melbourne, ahead of the final report due on 1 February 2019, we examine the key themes and issues that have come to light for general insurers along with what’s expected as the hearings continue, the possible reform agenda and take-away lessons.
The Royal Commission: an overview
The Royal Commission, established on 14 December 2017, is being held before the Honourable Kenneth Madison Hayne AC QC. Breaches of the General Insurance Code of Practice, poor claims handling, delayed claims and botched repairs are just some of the things that the hearings uncovered – and the media have subsequently shone a light on. While it’s still too early to know what the long-term impact of the findings might be, it’s not too late to take into consideration some key learnings from the hearings and contemplate ways to improve at a company and industry level.
Insurers under scrutiny
Conduct highlighted during the hearings included:
Ethical misconduct
Questions around the ethics of the financial and insurance industries are nothing new. However, the results from the Governance Institute’s Ethics Index show that the fallout from the Royal Commission has dragged down the overall score for trust in the ethics of companies. One in two Australians perceive life insurance companies as unethical and the banking, finance and insurance sector received the lowest vote of confidence of all the sectors.
Ethical issues raised during the hearing included the sales and remuneration models of some insurers, including excessive or unnecessary policy cover via third-party distributors, misleading customers and misrepresenting policy terms, poor claims-handling procedures and monitoring of compliance issues.
Some key lessons for insurers involve taking steps to:
Breach in compliance
Breaches to compliance processes – often repeated breaches – and delays in rectifying them was another common thread running through the hearings. Breaches commonly occurred in the provision of misleading content or through inadequate complaints processes.
To avoid compliance issues:
Poor claims handling
Delays in handling insurance claims, in particular following natural disasters, poor repair work and refusals to pay out on insurance policies due to complex and ineffective disclosure statements were all areas of concern highlighted during the hearings.
It’s clear that claims processes can be improved. How? Consider these take-aways:
What’s next for the Royal Commission
The ordeal is not over just yet for insurers.
The Royal Commission has already released policy considerations arising from the insurance public hearings and submissions relating to these policy questions are currently under review. These considerations pose questions that may spell significant changes for the insurance industry:
Trust in insurers right now may be at an all-time low. The publicity and common themes around unethical behaviour and poor service will clearly affect people’s willingness to trust. However, insurers can take this opportunity to take meaningful steps to ensure their workforce is guided by the right governance and put in place the right people, structures and practices to enable them to operate in a way that is ethical and fair. Regaining trust should be a priority.
