AIA appoints transformation chief – Life Insurance – Insurance News


AIA appoints transformation chief

14 March 2022

AIA Australia has promoted Mike Thornton to the newly created position of Chief Transformation Officer as it begins a three-year overhaul to enhance the end-to-end experience for its customers, partners and employees.

AIA has a great opportunity after its acquisition of CommInsure Life last year, says Mr Thornton, who joined AIA Australia in 2016 and was most recently Chief Risk Officer for six years.

“We’re now investing in our business to create a simpler, faster, and more connected experience for them. It’s an exciting time for AIA and I’m thrilled to be leading this transformation,” he said.

Gerry Schipper, who joined AIA in 2010, has been appointed Chief Risk Officer after the promotion of Mr Thornton, who has three decades of experience across life insurance, wealth management and financial planning.

“This is an exciting milestone in AIA Australia’s journey and his leadership will ensure that we are set up for success,” Australia CEO and MD Damien Mu said.

Last month, Resolution Life Australasia agreed to acquire AIA’s Superannuation & Investments business for an undisclosed amount. AIA had agreed to sell those assets as part of its acquisition of CommInsure Life, the Commonwealth Bank of Australia’s life insurance and investments business.

Mr Mu says AIA now intends to focus on its core business of life and health insurance and wellbeing services.

“Post the integration of CommInsure Life, we commenced the next step of our transformation journey, through which we will create a simpler, faster and more connected AIA,” Mr Mu said. “As part of this, we have sought to focus on life, health and wellbeing.”

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