Home Strategy QBE aligns technology and transformation in restructure

QBE Insurance is aligning its technology and transformation teams into a single business unit within its Australian and New Zealand Operations.

Under the strategy, the Australian-based global insurer has also announced the creation of a new strategy team as it continues to strengthen and simplify the business.

The company says a new chief operations office will better equip QBE to respond and adapt quickly to the changing needs and expectations of its customers, and will provide much clearer lines of accountability.

The COO will have end-to-end responsibilities for the technology and business transformation.

Steve Raynor will act as the interim chief operations officer while an internal and external search is conducted for the expanded role.

QBE chief executive Vivek Bhatia said the move brought the ANZO business in line with other operating divisions.

“Given technology’s intrinsic role in delivering on our business transformation, it also makes sense to have these functions aligned under the one business unit to drive greater focus and efficiencies.”

Bhatia said a new chief information officer would move into the team, bringing together technology, data, transformation and business operations.  As a result, current CIO Tony Forward has accepted a redundancy and Val Matthews, has been appointed in an acting capacity while an internal and external recruitment process is conducted for the redefined role.

Bhatia also said QBE would establish a dedicated strategy team to develop the longer-term vision for the business.

The team will report into the chief financial office led by Inder Singh and will also take responsibility for focusing energy on being a more innovative and a more customer-led organisation.

“Late last year, the team developed our short-term priorities and is working hard on implementing that and transforming QBE,” Bhatia said.

“We’ve already made great progress on the insurtech front, with the establishment of QBE Ventures globally, while locally, we’re a founding partner of Insurtech Australia and recently joined Stone and Chalk’s inaugural Insurtech Program, working with start-ups to solve specific customer needs.

“The general manager, strategy role will help drive that agenda in this market, as well as align with global counterparts to ensure we leverage our global footprint and expertise.

“To continue to improve accountability and further streamline the operating model, New Zealand will be repositioned as a separate business unit. General manager, New Zealand Bill Donavan, will report to Singh and take overall responsibility for the operations of the business, while working closely with relevant leaders in Australia.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

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