OPERATING COSTS ARE FACTORED INTO PREMIUM PRICES, SO WE MUST BE AS EFFICIENT AS POSSIBLE.

IAG’s large scale allows us to manage costs through access to volume discounts across the supply chain, without sacrificing quality,
thereby keeping costs
per policy down.

“It’s funny to say, but when I began studying public health not long ago, no-one on the course could believe I worked for an insurance company. But when you think that we look after injury claims for around 40,000 people at any one time, understanding medical research and epidemiology makes a huge amount of sense.

“Our team administers funding for medical researchers to understand how to improve treatment, and the cost of treatment, for people with injuries sustained in the workplace or in car accidents. By doing this, we hope to help the people we care for get on with their lives, which is great for them, and it’s also good for our business, the healthcare industry and the community.”

Petrina Casey, Manager of Policy, Research and Planning

ADMINISTRATION RATIO
Our administration ratio (which is underwriting and administration costs measured as a percentage of our net earned premium):

RATIO

BUSINESS VOLUME PER FULL-TIME EMPLOYEE
The number of policies and risks that IAG insures per FTE:

VOLUME

CONTRIBUTORS TO THE COST OF RUNNING OUR BUSINESS
The split between costs and underwriting profit for every dollar of premium IAG received, for the year to 30 June 2006:

COST

Petrina Casey, Manager of Policy, Research and Planning, discusses with Dr David Brown research into spinal injuries for SpinalCure.

Additional Links:

IAG Annual Report 2005
IAG Annual Report 2004
www.iag.com.au

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IAG Annual Report 2006 - Full
IAG Annual Report 2006

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