Suncorp today marks a significant milestone for the industry, as the 2020 General Insurance Code of Practice (‘the Code’) becomes effective after one of the most extensive reviews in its 25-year history.
Issued by the Insurance Council of Australia (ICA), subscribers to the Code are committed to high standards of service, above and beyond legal requirements, to promote better customer outcomes.
Suncorp Insurance Product & Portfolio CEO Lisa Harrison said the company is supportive of the implementation of a new Code which will significantly raise the bar for how the industry serves and supports customers.
"Suncorp is pleased to see the updated Code come to fruition, after working closely with the Insurance Council of Australia throughout the review. One of Suncorp’s team has been the Chair of the ICA’s National Code Committee during the review, and we have played a key role in shaping the updates to the Code."
We believe this is now far more customer-centric, better reflecting community expectations.Lisa Harrison, CEO Suncorp Insurance Product & Portfolio
Lisa said Suncorp particularly welcomed the more detailed obligations around assisting customers experiencing vulnerability and financial hardship.
“The industry has been actively moving towards providing more tailored support to customers to better reflect individual circumstances,” Ms Harrison said.
“These moves are in line with Suncorp’s own which have been developed over the last couple of years through the likes of our partnership with Uniting’s CareRing service and the introduction of our Customer Advocate office.”
“We’ve seen throughout the pandemic that many Australians are experiencing vulnerabilities, so these changes come at a time when our customers need us to support them more than ever."
Other important updates include increased accessibility and transparency, so customers can make more informed decisions about their coverage, and streamlined complaints processing requirements so customer voices can be more easily heard.
A copy of the revised Code can be found on the ICA website.