Directors’ Report
This is outlined in further detail below:
Core Focus
Life insurance
Creating advantage through strategic transformation
Simplified Cloud-based Architecture
Smaller size with core Life focus
Speed to market
1
2
3
Exited November 2023
Exit in progress
Financial Advice
Wealth Management
We are targeting a market- leading, single policy administration system ( PAS ) with cloud-based architecture This technology provides significant product flexibility and customisation to change offerings efficiently and at scale
Our ambition is to be the best at Life Insurance, leveraging our size and simplicity as well as our data insights capability to make fast and informed decisions Our core Life strategy enables a singular focus on being easy to do business with and delivering a superior customer experience
We strive to continually understand the needs of our customers and respond quickly and appropriately We are developing the technological and business agility to address our customers and the changing market with speed and efficiency
November 2023 - Sale of Centrepoint equity stake for $15.2m cash
December 2023 - ClearView Trustee retired and ETSL appointed January 2024 - Sale of Investment Management business to Human Financial In progress - Unwind of life investment contracts upon SFT 1
1 SFT relates to the successor fund transfer of the ClearView Retirement Plan and related unwind of the life investment contracts
ClearView’s goal is to be the best at Life Insurance, moving from a mid-tier to a top tier player over time. Key focus areas to achieve this objective are as follows: • Focus on its core life insurance business by completing the full exit of non core businesses; • Completion of the strategic transformation journey and program of work; • Building out a strong foundation with a high performance culture, capability and management; • Executing on the core retail distribution strategy in the financial adviser market; and • Diversifying earnings through expanding product and distribution channels in the longer term (Horizon II).
Optimise
Protect
Diversify
Explore
Assess, prioritise and action Horizon II possibilities
End to end active portfolio management
Extract more value from what we have built
Get curious
20
ClearView Annual Report 2024
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