“As an organisation that provides insurance and banking products and services to millions of households across Australia and New Zealand, Suncorp understands the important role we play in ensuring community members feel financially included and able to contribute to a sustainable economy. Our vision is a financial system that supports people in times of need, ensures access to suitable financial products and services, and builds capability that supports financial wellbeing, all of which contributes to a more resilient economy and nation.” – Suncorp Group CEO, Steve Johnston
In 2016, Suncorp joined Good Shepherd and the Centre for Social Impact to become a founding member of the Financial Inclusion Action Plan(FIAP) program, to improve the financial wellbeing of our customers, employees and communities.
Suncorp’s latest Financial Inclusion Action Plan (FIAP) has been recognised at ‘Build’ level, acknowledging a commitment to more ambitious, deeper and broader actions over a longer term of three years.
Both Suncorp’s inaugural FIAP (released in 2017) and 2018-20 FIAP were both recognised as Foundation level FIAPs, however, Suncorp’s latest plan has taken greater steps making Suncorp the first financial services organisation in Australia to release a FIAP at this level.
These actions include group level leadership consultation by exploring lower-cost home insurance solutions, ensuring people with lived experience of a range of vulnerabilities are involved in the decision-making process. During this time, Suncorp will also continue to deliver a number of core commitments through this plan over the next three years.
As per its ongoing commitment to financial inclusion, Suncorp’s latest 2022-2025 FIAP can be reviewed below.Suncorp - Financial Inclusion Action Plan 22-25