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[TAL logo]
[Music]
[Caption: We Insure Life]
[Caption: Brett Clark - CEO Retail Life]
Hello everyone, I'm Brett Clark and I'm Chief Executive Officer of TAL Retail Life.
I'm talking to you today because we've reached an exciting point in our company's history.
We're changing our name from TOWER to TAL.
In 2006, TOWER Australia de-merged from the broader TOWER Group and became a stand-alone
Australian entity.
As part of that de-merger, over a period of five years, TOWER Australia was required to
change its name.
We remain committed to the Australian market and we remain the Life Insurance specialists.
TAL is one of few organisations in the market that is a committed Life Insurance specialist.
It's been an exciting few years for TOWER.
We've worked *** our business over the last two to three years to build a high quality
offer.
But also worked hard to provide that offer and deploy that offer more actively in the
market.
In that time, we've seen our adviser footprint almost double over the last two years.
And we're very excited about that, and we're speaking to more people about TOWER (now TAL)
than ever before.
Dai-ichi Life have been a great partner for TOWER.
They joined in August 2008, when they acquired almost 30% of our business.
And since that time, they've been a very supportive partner and are looking for TAL to grow very
strongly in this market.
And they bought the business not to change the business - they like the business.
They now own 100% of our organisation and they continue to be very supportive of management,
supportive of the executive team.
And also supportive to see TAL be even more successful in the Australian Life Insurance
market.
Following five years of high growth, TOWER has now firmly positioned itself as one of
the premier Life Insurance organisations in Australia.
We value that. We could not have achieved those results without the tremendous support
we've received from the adviser networks.
Our strategy is clear, and that's to remain a Life Insurance specialist.
So, in twelve months' time, in twenty-four months' time, in thirty-six months' time,
when you're dealing with TOWER, you'll know that you're dealing with an organisation that's
focused solely on Life Insurance.
We've worked hard over the last two years to build what we believe is a high quality
offer for advisers and customers.
Over the next two to three years, we plan to consolidate our position as the premier
Life Insurance company in Australia.
So that, when you're talking to your clients, you will have the trust, you will have the
respect.
And you'll know that we have a strong partnership together to provide great potential outcomes
for your clients.
Our ambition for our technology program is high.
We want to provide more cover to more Australians more quickly.
We have a multi-million dollar program of work scheduled over the next two years to
deliver an outstanding suite of technology applications for advisers.
And, by building a suite of applications that allow your business to integrate more effectively
with ours,
We can provide more cover more quickly, and allow you to see more clients, and together
we can address the under-insurance issue in Australia.
I'm often asked, what does TOWER bring to the table. What differentiates TOWER in the
market versus other Life Insurers?
And we can talk about products, and we can talk about pricing and we can talk about tools.
But I think that what TOWER brings to the table that is different from any other insurer
is culture.
We ARE the Life Insurance Specialists, we ARE committed to this market, we ARE commmitted
to advisers.
We want to see the value of advice recognised by more and more Australians in the market.
And we want to be there with advisers, helping them to promote the value of Life Insurance
to more and more Australians.
That's what TOWER brings to the table. That absolute passion in what we do. That passion
around Life Insurance.
And the passion of dealing with advisers - and taking our products and your services to more
and more Australians.
I've talked a little around culture today - and one of the core attributes of our culture
is a strong partnering culture.
Our process is very much outside-in. We listen to what's happening in the market. We listen
to what you're telling us.
And we respond - and we respond quickly.
This partnering culture; this outside-in process manifests itself in all parts of our business.
Through product development; through technology development; through our operational processes;
though our relationship models; and through our claims models also.
We listen to what the market is telling us. We listen to what advisers are telling us.
We listen to what our customers are telling us.
We want to ensure that all of that feedback comes in strongly and deeply into all our
development processes, right across the business.
So thank you for your time today. Thanks for listening for the last few minutes.
It's been an exciting journey to get to this point where we're now changing our name from
TOWER to TAL.
As I mentioned, this also represents an exciting new chapter for our organisation.
We've grown strongly in the last few years. We remain absolutely committed to the Australian
Life Insurance market.
And our ambition remains high to go strongly in this market.
We thank you for your support over the last few years.
But we also look forward to your continuing support as we go forward together on this
journey to protect even more Australians.
Thank you very much.
[TAL logo]