Business Spectator 21 may
http://www.businessspectator.com.au/bs.nsf/Article/Suncorp-to-reveal-insurance-business-overhaul-pd20100521-5MPRJ?OpenDocument&src=hp17
Suncorp to reveal insurance business overhaul
Suncorp Group chief executive Patrick Snowball says changes to the insurance business will focus on technology upgrades to cut costs, The Australian Financial Review reports.
The new strategy will harmonise the struggling Group's suite of insurance businesses by overhauling the back office computer operations and targeting each brand to different consumer groups, instead of running competing businesses within the company.
Mr Snowball said there would be no short term job cuts.
The technology overhaul on its own is expected to save over $200 million, the AFR reported.
Suncorp's insurance businesses include GIO Insurance, APIA, AAMI, Vero and Shannons.
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