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Suncorp’s new chairman hones customer focus

New Suncorp Chairman Christine McLoughlin says the board is setting up a new customer-focused committee, and has promised shareholders at her first AGM there will be a sharp focus on governance, conduct and culture.

“The board and senior management expect everyone in Suncorp, in all interactions with customers, to deliver on the values and standards we hold ourselves accountable to,” Ms McLoughlin said in Brisbane on Thursday.

“Understanding our customers and recognising the importance of trust, and doing the right thing, are at the core of how we will continue to improve.”

While Ms McLoughlin was addressing the AGM, Suncorp Insurance CEO Gary Dransfield was being questioned at the Hayne royal commission in Melbourne over the group’s handling of claims and advertising.

She says the board meets regularly with Suncorp’s Customer Advocate Matthew Leslie, who position was created last year.

The new committee will comprise at least three non-executive directors and will make recommendations to the board.

Ms McLoughlin was named earlier this year as the next chairman after Ziggy Switkowski said he would be stepping down at the AGM.

Introductory meetings between Ms McLoughlin and various stakeholders are underway.

“This includes government and regulators to discuss key issues currently facing the industry and Suncorp, as well as the implications of the royal commission,” she said.

Ms McLoughlin has worked in financial services for more than 20 years and joined the Suncorp board in February 2015.