IAG likely to move 141 jobs to the Philippines

January 23 2018 by InsuranceAsia News Staff

Insurance Australia Group (IAG) is reportedly moving up to 141 jobs from New Zealand and Australia to the Philippines.

According to a New Zealand Herald report, IAG could shift jobs from its NZI insurance business and from the parent company.

An IAG New Zealand spokesperson was quoted as saying that an operational partnering project was underway, affecting approximately 141 positions.

The affected positions are likely to be moved to the Philippines.

Employees who will be affected are being offered career transition support with group workshops, one-on-one coaching, and redeployment and outplacement.

The spokesperson admitted that IAG is facing a changing insurance market, with rising costs and frequency of claims.

IAG follows the move of Suncorp New Zealand, which confirmed plans to offshore a number of its back-office jobs. Suncorp owns half of AA Insurance.