Suncorp goes customer-centric
Suncorp Group has unveiled a new business model with an emphasis on more flexible "platforms" and better-connected customers.Marking the new direction are a couple of new executive roles: chief customer experience officer and a chief executive officer customer platforms.Suncorp chief executive Michael Cameron, who has been in the job since last October, told analysts at last week's half-year results presentation that he wanted the group to offer services modelled on Apple's iTune's platform.He said it would be different from the current bancassurance model, where the emphasis is on cross-selling banking, insurance and investment products.Cameron said the new model would be more flexible and open-ended."Customers will be able to buy any component of any product they want. We will be including products and services from third parties, which is something we have not done before," he said.He said the bank would rely on its recent simplification program to allow customers to engage more easily.In a media release issued yesterday, Cameron said: "The customer platforms function will create dynamic and interactive platforms to allow customers to access any product and any brand via any channel, including a digital marketplace."The business units have been reconfigured, with banking and wealth merging, and the life and general insurance businesses combined. The group's new business units are banking and wealth, Australian insurance and New Zealand insurance.All "platforms", including bank branches, will be combined and managed by the new chief executive customer platforms, Gary Dransfield (who was chief executive personal insurance).John Nesbitt has been appointed chief executive banking and wealth.Anthony Day is chief executive insurance and Paul Smeaton is chief executive New Zealand insurance.Mark Reinke, formerly head of marketing, has been appointed chief customer experience officer.Cameron has also appointed a chief transformation officer, Clayton Herbert, whose role is to oversee the transition to the new model.