Suncorp is adapting to the changing landscape and consumer expectations by investing in technology such as artificial intelligence (AI), robotics and telematics to improve access, quality, simplicity, personalisation, design and delivery of products and services for our customers. We are prioritising digital initiatives for our customers, and designing simpler, more efficient processes for our business. We leverage comprehensive security capabilities to protect customers from cybercrime, and use data to proactively support our customers, including those at risk of hardship. Our Data Ethics Principles guide our use of data.
#Advancing our digital capability
In 2019-20 Suncorp advanced its digital capability and experience for customers, with the COVID-19 pandemic prompting fasttracking of digital solutions. We introduced a dedicated digital hub for those impacted by the pandemic, delivered an automated online application process for customers to make hardship applications, and extended the capabilities of webchat and our intelligent virtual assistants to respond to customer queries. Our ongoing investment in automation boosted our ability to deliver in a consistent and timely manner for our customers and meet their increased demand for digital solutions.
These measures also enhanced our support for customers impacted by bushfires and storms across Australia. At the height of the bushfire and storm season, almost 34 per cent of claims were made online. This year digital self-service transactions increased by 25 per cent year on year, and claims lodged online increased by 19 per cent.
In 2019-20 a retirement simulator digital tool was introduced for current and future superannuation customers to assess their retirement outcomes and develop appropriate superannuation strategies. We also introduced an online tool to help members better understand the impacts of any early release of superannuation on their balance.
Suncorp continued to invest in AI and machine learning to help inform accurate pricing for its insurance products, including advanced modelling for bushfires, storms and cyclones.
#The Suncorp App:
gives customers fast and secure access to their money wherever they are
provides a central place for customers to manage their home, mobility and money
offers customers a complete view of their insurance policies and accounts
enables customers to access our third-party solutions
includes an AI-enabled virtual assistant to answer queries and help with navigation.
In addition to insurance policy self-service and transactional banking digital support, customers can now lodge and track their claim online or via the Suncorp App, open and manage their bank accounts and loans, and receive their policy documentation.
We are also embracing new technologies such as robotics and telematics to continue to meet customers’ changing needs. Robotics have been used to streamline customer policy renewals and check for discount eligibility and we are exploring the use of telematics to monitor driving data from our fleet vehicles.