What it does: Provides insurance
Staff stats: 15,000
The good bits: Working for an Industry Leader
The not so good bits: Frequent integration of teams across Australia
IAG is Australia and New Zealand's largest general insurance company with a purpose to make your world a safer place, whether you are a customer, partner, employee, shareholder or part of the communities IAG serves across Australia, New Zealand and Asia.
The businesses have helped people recover from natural disasters, accidents and loss since 1851. IAG operates in Australia, New Zealand, Thailand and Vietnam, providing insurance under many leading brands, including NRMA Insurance, CGU, SGIO, SGIC, WFI and Lumley Insurance (Australia); NZI, State, AMI and Lumley Insurance (New Zealand).
Increasingly, IAG is extending beyond paying claims to increasing awareness of risk and helping communities reduce and prevent risk. They believe it is their responsibility as an industry leader to use their influence and role as a major investor, purchaser and employer for the good of everyone.
Also, in July 2017, IAG opened the doors to its new innovation incubator - Firemark Labs Sydney - as part of its continued strategy to generate customer-led and data-driven business growth. The incubator will play a central role in connecting IAG talent, insights and capabilities with external partners who can help IAG design new customer experiences for today – and tomorrow.
IAG is committed to “improving gender, age and ethnic diversity”. In 2017, women held 34 per cent of senior management positions at IAG. IAG has a commitment to increase the number of women in senior management to 40% in Australia and New Zealand by 2020. Aside from increasing the number of women in management roles, the other focus of IAG’s diversity efforts is encouraging the recruitment and career progression of Aboriginal and Torres Strait Islander Australians. The company adopted a Stretch Reconciliation Action Plan in 2015. Among other objectives, this involves encouraging Indigenous Australians to apply for IAG’s grad programs then providing them with the “tools, study opportunities and support” to achieve their career goals.
IAG offers a range of flexible work options and generous leave provisions. It even provides a ‘carer’s room’ at major sites and offers onsite holiday program that allows parents to work through school holidays without needing to worry about childcare arrangements.
IAG is a ‘Shared Value’ Organisation meaning it is “committed to using [it’s] resources to help solve societal problems, in a way that is profitable for the company”.
IAG focuses on “building safe, confident and connected communities”. It partners with organisations such as the United Nations, Australian Red Cross and State Emergency Services. IAG supports campaigns educating Australians about how to mitigate the risks posed by events such as fires, floods and storms. Like many insurers, IAG is concerned about climate change. It has been carbon-neutral since 2012. In 2018 implemented a Climate Action Plan. This may see, for example, those driving fuel-efficient vehicles being offered discounts on their insurance policies.
Staff also receive one day of volunteer leave each year. In 2018, IAG employees collectively volunteered 4195 hours to 1500 charities. The company donated $8 million to community organisations and initiatives.
IAG’s Actuarial and Analytics teams offer two-year grad programs for those with relevant degrees. There is also an 18-month grad program that those from the following disciplines are eligible to apply for:
To be eligible for IAG’s grad programs you’ll need to have graduated in the last three years, have a credit average or higher and be a citizen or permanent resident of Australia or New Zealand. The recruitment process starts with registering your details when applications open in early February. Based on the available information, you should be prepared for online psychometric testing, personality testing, an assessment centre visit and face-to-face meetings with senior staff.
IAG’s graduate programs have a structured induction phase then an ongoing development program. Grads are paired with a mentor and a buddy. They have the opportunity to work with senior executives and present a live business case. They undertake courses, spend time at different sites and contribute to projects in a range of business areas. By the end of their program grads are expected to be resilient, innovative and savvy operators who have impressive skills in the following areas:
IAG offers grads a “competitive” base salary, performance-based bonuses that can be as high as 10 per cent of that salary and 13 per cent super. Benefits include a 50 per cent discount on insurance products and various corporate partner discounts. Staff can salary sacrifice cars, car parking, union fees and memberships of the Virgin Lounge and Qantas Club. There is also an employee share plan.
Once you’re accepted into the grad program, you’re a permanent employee (meaning a position will be found for you once your training is completed). IAG supports the career aspirations of its staff “whatever their role or ambition”. Given the size and scope of its operations, the company can “offer career and development opportunities far beyond the reach of just one function, one division or one country”.
IAG’s three core values are ‘closer, braver, faster’. In practice, that means staff are expected to create “real connections” with others, particularly their colleagues. They are also expected to “think big and stand up for what is right” as well act decisively and “make things happen”.
Most IAG staff report being happy with their pay and benefits, appreciating the flexible working options available to them and enjoying the friendly and supportive corporate culture.
"IAG has graduates across multiple divisions in both the Sydney and Melbourne offices.
The Graduate Program will help you develop skills and experience that will see you develop in new ways in your career to reach new heights.
We encourage you to explore your potential and will provide you with the tools and support to help you achieve your career aspirations & goals.
Our Actuarial and Analytics teams are offering a new 24-month program for our Graduates to gain as much experience as possible before moving into their permanent placements.
We look for graduates with the following backgrounds and related disciplines:
So…let’s get into the details
To be eligible for the IAG Graduate Program you must have:
It’s an 18-month program with structured rotations giving you the opportunity to explore different projects, teams and ways of working. You’ll be offered:
The Graduate Program begins in February each year and during this time, you will participate in courses, site visits and key projects across your area.
As an IAG graduate, your performance will be rewarded with a competitive base salary and the potential to earn a 10% Short Term Incentive bonus each year. You will also have access to tailored benefits offered to IAG employees, including:
We encourage Aboriginal and Torres Strait Islanders to apply for this position."