The CGU STRIVE Podcast

In this episode, we explore the fascinating landscape of electric vehicles with Peter Divjakinja, Motor Risk Manager. Peter unpacks some of the complexity surrounding the evolving EV market, and the advantages and challenges these vehicles present for business owners who are considering adapting their fleets to meet changing sustainability and efficiency needs.

Guest Introduction

Peter Divjakinja is a risk management professional who excels in delivering quality risk management services and designing effective solution frameworks to corporate entities. Peter is responsible for supporting CGUs intermediated fleet customers with reducing risk and achieving budget and delivery goals and is currently undertaking PhD studies in Sustainable Mobility,

EV Market in Australia

• Made up about 8% of new car market in first half of 2024
• Number of models doubled to 80 in 2024

Fleet EV Adoption

• EV representation in Australian fleets is around 5%
• Most organisations are:
  • Conducting due diligence
  • Assessing vehicle suitability
  • Considering fitness for purpose

Range Anxiety

• A concern for long-distance and regional driving
• Requires careful planning
• Charging infrastructure is still limited
• Wait times at charging stations can be significant

Cost and Infrastructure

• Initial purchase prices remain high
• Infrastructure development is slow
• Government and organisations are working to expand charging networks

Interesting Insights

• Early data suggests lower at-fault accident rates for EVs
• Running costs 40-70% less annually
• Government is driving adoption through:
  • Stamp duty reductions
  • Direct EV purchases
  • Infrastructure investment

Advice for Fleet Owners

• Create a comprehensive project plan
• Consider:
  • Emission targets
  • Business operational needs
  • People and safety factors
  • Potential mix of EVs and hybrid vehicles

Resources

Read the CGU STRIVE Report 3.0

About CGU

For over 160 years, CGU has partnered with ambitious brokers to deliver exceptional insurance products and help bring peace of mind to their customers.

CGU offers our broker partners national reach, outstanding service and the financial strength that comes from being part of Australia’s largest insurance parent, Insurance Australia Group (IAG). Our value lies in its commitment to be the insurer who supports ambition of our broker partners and the customers we serve.

Visit the CGU website www.cgu.com.au

CGU recommends customers visit the National Insurance Brokers’ Association (NIBA) Need a Broker website to locate a trusted local insurance advisor.

Insurance issued by Insurance Australia Limited ABN 11 000 016 722, AFSL 227681trading as CGU Insurance Ltd. To see if a product is right for you, always consider the Product Disclosure Statement and Target Market Determinations available from www.cgu.com.au

In this episode, we explore the essential topic of insurance claims with Emma Roberts, the Executive Manager for Claims Enablement at CGU. Emma shares insights into the claims process, the innovations being implemented to enhance efficiency, and the vital role of brokers in facilitating smooth claim resolutions.

Emma Roberts is an expert in claims enablement, dedicated to improving the claims experience for customers, brokers, and partners. With her extensive background, Emma provides a unique perspective on the claims process and how it can be optimised.

Key Topics

1. The Importance of Streamlined Claims Experience
   • Servicing claims efficiently is a critical aspect of purchasing insurance, underscoring the need to make the process as easy as possible for customers.
2. Simplifying the Claims Process
   • We focus on making it straightforward for customers to lodge and settle claims,
3. The Important Role of Brokers
   • Brokers play a key role in the claims process, providing essential information quickly to facilitate faster claim resolutions.
4. RAPID Claims Model
   • An overview of CGUs RAPID claims model, which streamlines the claims submission process via the CGU Broker Portal, allowing for quicker settlement.
5. CASI Tool
   • Introduction of the CASI (Claims Assistant Supporting Intermediated) tool, designed to enhance efficiency by providing quick answers to claims-related questions and supporting training for new staff.
6. Digital Enhancements
   • Discussion on various digital initiatives, including a predictive tool for assessing total loss claims, aimed at improving the speed and accuracy of claims processing.
7. Managing Large Volumes of Claims
   • Insights on how CGU manages large claim volumes during significant events, highlighting the increased use of digital tools by brokers to lodge claims efficiently.
8. Auto Allocation Tool and Windscreens
   • Introduction of an auto allocation tool for repairs to enhance the speed of assigning repairers and improving the overall claims experience.
   • Enhancements to the windscreen claims process

We highlight the importance of the Claims Portal for brokers and the benefits of RAPID claims, emphasising CGU's commitment to improving the claims experience through the adoption of new technology and efficient processes.

Resources

Read the CGU STRIVE Report 3.0

About CGU

For over 160 years, CGU has partnered with ambitious brokers to deliver exceptional insurance products and help bring peace of mind to their customers.

CGU offers our broker partners national reach, outstanding service and the financial strength that comes from being part of Australia’s largest insurance parent, Insurance Australia Group (IAG). Our value lies in its commitment to be the insurer who supports ambition of our broker partners and the customers we serve.

Visit the CGU website www.cgu.com.au

CGU recommends customers visit the National Insurance Brokers’ Association (NIBA) Need a Broker website to locate a trusted local insurance advisor.

Insurance issued by Insurance Australia Limited, ABN 11 000 016 722, AFSL 227681, trading as CGU Insurance.

We sit down with Con Bakas from Cylo, to discuss the critical issues surrounding cyber security and cyber insurance. Con provides valuable insights into the evolving landscape of cyber threats, the importance of robust cyber insurance solutions, and how Cylo can help to support brokers and SMEs in navigating these challenges.

Guest Introduction

Con Bakas is the Chief Underwriting Officer at Cylo, a new agency established in early 2023, backed by CGU. Cylo focuses on providing tailored cyber insurance solutions to brokers, addressing the growing risks associated with cyber threats.

Key Topics Discussed

1. Overview of Cylo’s mission to provide specialised cyber insurance solutions for brokers and businesses.
2. Discussion on how cyber threats have shifted from targeting large corporations to increasingly affecting mid-market and SMEs.
3. Con addresses the misplaced belief that antivirus software alone is sufficient for protection, emphasising the role of insurance in recovery after a cyber incident.
4. Exploration of how hackers are leveraging AI to enhance their attacks, including faster password cracking and sophisticated social engineering techniques.
5. Con highlights the necessity of having a comprehensive incident response plan in place to manage cyber threats effectively.
6. Many SMEs are unprepared for cyber-attacks, often lacking adequate cyber insurance coverage.
7. Discussion on Cylo’s proactive approach to risk management using tools like UpGuard to assess and monitor clients’ cyber hygiene continuously.
   • Cylo’s unique proposition to help customers Resist, Respond, and Recover.
8. Con emphasises the importance of educating SMEs about cyber risks
9. Speculation on how emerging technologies like the metaverse may introduce new cyber risks and the potential for opportunistic attacks.

Resources

Read the CGU STRIVE Report 3.0

Learn more about Cylo for Cyber insurance

This is general advice only and does not take into account your individual objectives, financial situation or needs (“your personal circumstances”). Before using this advice to decide whether to purchase a product, you should consider your personal circumstances and the relevant Policy Wording. This insurance product is distributed by Cylo Australia Pty Limited ABN 29 666 378 909 Authorised Rep No. 001303389 (Cylo), an authorised representative of IAG Agencies Pty Limited, ABN 11 147 749 139 AFSL 471282. Cylo acts as agent of the issuer Insurance Australia Limited trading as CGU Insurance ABN 11 000 016 722 AFSL 227681, pursuant to a binder agreement.

About CGU

For over 160 years, CGU has partnered with ambitious brokers to deliver exceptional insurance products and help bring peace of mind to their customers.

CGU offers our broker partners national reach, outstanding service and the financial strength that comes from being part of Australia’s largest insurance parent, Insurance Australia Group (IAG). Our value lies in its commitment to be the insurer who supports ambition of our broker partners and the customers we serve.

Visit the CGU website www.cgu.com.au

CGU recommends customers visit the National Insurance Brokers’ Association (NIBA) Need a Broker website to locate a trusted local insurance advisor.

In this episode, we dive into the complex world of sustainability and climate. As we explore key concepts like ESG, emissions scopes and reporting, and the challenges and opportunities facing businesses of all sizes, we aim to demystify what sustainability really means for Australians and the organisations that power our economy.

Guest Introduction

Caetano Mantovanni, former IAG Principal Climate and Sustainability Projects, joined Peg Vaghaye, Executive Manager CGU Broker Relationships, to share insights from the Sustainability and Climate Action team at IAG, a leading player in sustainability initiatives.

Key Topics

ESG Fundamentals Breaking down Environmental, Social, and Governance metrics in finance and business evaluation.

Emissions Scopes Overview of Scope 1, 2, and 3 emissions reporting frameworks.

Small Business Impact How smaller companies fit into broader emissions reporting requirements and why early preparation matters.

Greenwashing & Greenhushing Contrasting false sustainability claims with under-communication of genuine environmental efforts.

Regulatory Adaptation Converting sustainability requirements into business opportunities and operational improvements.

Net Zero Goals Australia's climate targets and their business implications.

Community Initiatives IAG and CGU's role in climate resilience and community support.

Resources Mentioned

· Australian Sustainability Reporting Standards AASB S1 and AASB S2 are now available on the AASB Digital Standards Portal

· Free Consultation - Carbon Management Software

· Greener for Business

· Research | IAG Limited reports relating to climate and sustainability.

Read the CGU STRIVE Report 3.0

About CGU

For over 160 years, CGU has partnered with ambitious brokers to deliver exceptional insurance products and insured peace of mind to their customers.

CGU offers our broker partners national reach, outstanding service and the financial strength that comes from being part of Australia’s largest insurance parent, Insurance Australia Group (IAG). Our value lies in its commitment to be the insurer who supports ambition of our broker partners and the customers we serve.

Visit the CGU website www.cgu.com.au

CGU recommends customers visit the National Insurance Brokers’ Association (NIBA) Need a Broker website to locate a trusted local insurance advisor.

Insurance issued by Insurance Australia Limited, ABN 11 000 016 722, AFSL 227681, trading as CGU Insurance. Any advice on this podcast is general advice only and does not take into account your individual objectives, financial situation or needs (your ‘personal circumstances’)

In this episode, Pegah Vaghaye, Executive Manager CGU Broker Relationships and Natalie May, Executive Manager for People, Capability, and Communication, explore the unprecedented phenomenon of four generations working side-by-side in modern organisations, discussing the challenges and opportunities this presents for Australian businesses.

Their conversation begins by defining current and emerging generations with a view to breaking down stereotypes that inhibit inclusive and progressive workplaces.

Baby Boomers (1946-1964)

Generation X (1965-1979)

Generation Z (1995-2009)

Generation Alpha (2010-2024)

Coming soon: Generation Beta (2025-2039)

Under our parent company IAG, CGU has benefitted from three successful strategies which foster a dynamic and inclusive learning environment that embraces generational diversity. They encompass flexible communication channels, structured talent development programs, and cross-generational learning opportunities such as mentoring programs.

Keys to Success

Include embracing generational diversity, personalising workplace policies, and maintaining a clear company identity and values. Additionally, adopting an experimental approach to workplace evolution can help drive continuous improvement and innovation.

Adopting an experimental approach to workplace evolution can help to drive continuous improvement and innovation by:

1. Developing flexible policies that can cater to different generational needs
2. Creating opportunities for cross-generational collaboration that can boost engagement
3. Focusing on skills and potential (rather than traditional qualifications) to develop new talent
4. Maintaining multiple communication channels to enhance connectivity
5. Fostering an inclusive culture that recognises the value of all generations' contributions

Resources

Read the CGU STRIVE Report 3.0

About CGU

For over 160 years, CGU has partnered with ambitious brokers to deliver exceptional insurance products and help bring peace of mind to their customers.

CGU offers our broker partners national reach, outstanding service and the financial strength that comes from being part of Australia’s largest insurance parent, Insurance Australia Group (IAG). Our value lies in its commitment to be the insurer who supports ambition of our broker partners and the customers we serve.

Visit the CGU website www.cgu.com.au

CGU recommends customers visit the National Insurance Brokers’ Association (NIBA) Need a Broker website to locate a trusted local insurance advisor.

Insurance issued by Insurance Australia Limited, ABN 11 000 016 722, AFSL 227681, trading as CGU Insurance.

Welcome to the CGU STRIVE Podcast, a deep dive into the macro-economic, social, and environmental landscape transforming insurance in Australia.

About CGU

For over 160 years, CGU has partnered with ambitious brokers to deliver exceptional insurance products and help bring peace of mind to their customers.

CGU offers our broker partners national reach, outstanding service and the financial strength that comes from being part of Australia’s largest insurance parent, Insurance Australia Group (IAG). Our value lies in its commitment to be the insurer who supports ambition of our broker partners and the customers we serve.

Read the CGU STRIVE Report 3.0

Visit the CGU website www.cgu.com.au

CGU recommends customers visit the National Insurance Brokers’ Association (NIBA) Need a Broker website to locate a trusted local insurance advisor.

Insurance issued by Insurance Australia Limited, ABN 11 000 016 722, AFSL 227681, trading as CGU Insurance.