Retail growth and technology investment offset commercial softness
On the direct side, IAG New Zealand said 80,000 new customers had chosen its retail brands during the year, aided by premium reductions and a levelling-off in rate increases as inflationary pressure moderated. The group also highlighted the completion of a major data and systems migration onto its new Enterprise Platform, which Gibson said would “accelerate our customer-centred transformation to deliver efficiencies, increase agility, strengthen competitiveness and enhance the company’s ability to respond to changing customer needs.”