ClearView is a dynamic challenger with significant momentum
ClearView’s strategic execution is tracking to plan – achieved through simplification (focus on life insurance), progressing transformation program, enhancing adviser accessibility and being easy to do business with
Increasingly attractive Life Insurance market • Industry has returned to growth following structural and regulatory changes • Positive outlook for Retail market is supported by market consolidation and stabilisation of adviser channel • ClearView operates in the Retail segment
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Strong financial performance & outlook • ClearView’s market share is increasing in a growing market, with a focus on quality sustainable earnings • Group Underlying NPAT (from continuing operations) up 25% to $35.3m in FY24 under new accounting standard AASB 17 • Life Insurance business to continue to support double digit Underlying NPAT growth • Business is in a net capital generation position Launch of new sustainable product range in line with structural industry changes • Flagship ClearChoice product range launched in October 2021 to address industry sustainability issues – well received by market • Enhancements to ClearChoice flagship product suite have resulted in continued market outperformance - includes targeted segmentation and pricing using data insights • Confidence to increase exposure to underwriting risk for new business from 1 October 2023 • ClearChoice 24 refresh step towards product innovation and sustainability measures for TPD products
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Established distribution network and challenger brand in financial advice market • ClearView has a proven track record as a challenger brand in the IFA market • Focus is on maximising penetration by being easy to do business with • Depth of life insurance expertise across teams
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Technology and transformation • Well-progressed on transformation journey to build the foundation for scalable growth, agility and speed to market • Expected to result in significant competitive advantage via single, modern technology platform • Further delivers significant product flexibility for future opportunities • Migration of in-force portfolios onto new (cloud-based) technology platform on track for completion in 1H FY26
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