Suncorps who’s Insurance brands include AAMI and GIO, and their biggest rival Insurance Australia Group (owner of NRMA) prepare for new threats in their mass markets (Car Insurance and House Insurance) from new rivals like the supermarkets, Virgin and Australia Post.
Bernadette Inglis, Suncorp‘s head of personal lines insurance division told the times “We are not closed to these alternatives but we are a retailer and a consumer retailer at that, and we see our business continuing as a a direct relationship with our customers,”
The Australian Direct market represents 80 per cent of consumers with the other 20 per cent dealing through insurance brokers.
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