TAL will realign a number of its back-office functions and systems in an effort to maintain its position as the second largest life insurer in Australia, shifting TAL executive Penny Coates into a new role within the group.
Coates will move from being Chief People and Culture Officer to head a new business unit that will centralise and align customer services functions and operations and will carry the title of Chief Customer Service and Operations Officer.
TAL group chief executive and managing director Jim Minto said the new unit would be central to TAL maintaining its business while facing changing customer demands and uncertain future economic conditions.
TAL currently offers insurance to retail, wholesale and direct clients, and the alignment would see the back-office functions of these three areas drawn together while maintaining unique front-end offerings aimed at each market.
According to TAL, the realignment will likely add jobs as it seeks more people to staff its back-end operations. At the same time the strategy at the front of the business will move away from transactions, according to Coates, to focus on the needs of customers through differing life stages.
"We are consolidating our service platforms and operations from across existing business divisions. This will bring focus, efficiency and greater responsiveness to all parts of our business so we can deliver the services business partners and customers want, when and how they want it," Coates said.
Minto said the shift was necessary and was as much about business systems and processes as it was about customers.
"This is an exciting time for our business as we become truly customer focussed. We have grown to be Australia's second biggest life insurer over recent years, but we must transform in order to meet changing consumer behaviour, market developments and to be truly customer-centric," Minto said.
The realignment and change in role for Coates comes as TAL will also merge its two Sydney offices into a single central location in George St in Sydney's central business district.
