IAG is Australasia’s largest general insurance company whose purpose is to “make your world a safer place”, whether you are a customer, partner, employee, shareholder or part of the communities IAG serves across Australia, New Zealand and Asia. Increasingly, they see their role extending beyond paying claims to increasing awareness of risk, and helping communities reduce and prevent risk. Their brands include NRMA Insurance, CGU, and NZI.
IAG recognised the need to find new ways to deliver on their business strategy to ensure their purpose drives their potential and future success, and their Executive Team identified shared value as a key approach. Their ‘Shared Value Framework’ is built around eight focus areas aligned under three themes: safer, stronger, and more confident communities. These respond to significant social challenges which are overlaid with IAG’s business focus and exposure. Shared value at IAG is led by Australasia’s first corporate Head of Group Shared Value and the Group Shared Value team, reporting directly to the Group Executive of People, Performance and Reputation. Their Shared Value Advisory Council is made up of diverse senior leadership representatives, and the IAG Board reviews their shared value performance.