Suncorp Group is the first insurance company to throw its support behind Australia’s newest repair industry advocacy body to help combat the skills shortage and ageing workforce of the motor repair industry. In a two-year sponsorship deal inked with the Australian Collision Industry Alliance (ACIA), Suncorp Group has become the first insurance partner to support […]
Australia’s Suncorp Launches Photo Appraisal Technology
An initiative launched in June by Suncorp’s Motor Claims team seeks to further improve customers’ claims experience. Customer Vehicle Image Capture (CVIC) gives selected customers the ability to upload images of their damaged vehicle immediately via a secured link using their smartphone. Once submitted, images are instantly accessible by the allocated repairer – meaning they […]
Australia-Based Suncorp Boosts Training Subsidy for Collision Repair Partners
With COVID-19 putting pressure on many industries, including repairers, Australia-based insurer Suncorp is continuing to support its repairers by boosting its Suncorp Training Subsidy. Established over five years ago, the Suncorp Training Subsidy provides financial support for its panel of motor repairers to allow them to undertake training. Prior to COVID-19, each repairer was eligible […]
AMA Group Completes Capital S.M.A.R.T Acquisition
Australia’s AMA Group Limited (ASX:AMA) announced the completion of the previously announced acquisition of Capital Smart Repairs Australia Pty Ltd (Capital SMART). Under the sale terms AMA owns 90% of Capital SMART, with Suncorp Insurance Ventures Pty Ltd (Suncorp) retaining a 10% holding in Capital S.M.A.R.T. The acquisition includes a long-term strategic service agreement of […]
Australia’s AMA Group to Acquire Capital SMART Collision Repair Business and ACM Parts from Insurer Suncorp
Insurer will retain 10 percent interest in Capital SMART and enters into long-term supply agreement. The AMA Group Limited (ASX:AMA) today announced an agreement with Suncorp Insurance Ventures Pty Ltd (Suncorp) to acquire 90 percent of Capital SMART Repairs Australia Pty Ltd in a transaction valuing the company at AUD$420 million ($280.3 million). AMA will […]
Australia’s Suncorp Reported Considering Sale of ACM Parts and Capital SMART
According to an article in the Australia Financial Review, Australia insurer Suncorp Group is considering a sale of its automotive parts supplier business, ACM Parts. According to the article, the insurer and financial services company has hired Deloitte Corporate Finance to oversee a strategic review for the division that may led to a sale of all […]
Australia’s Suncorp and Thatcham Research Renew Collision Repair Data Agreement
Thatcham Research has announced the renewal of its contract with Suncorp, extending the successful collaboration that has seen Suncorp distribute Thatcham Research repair data in Australia and New Zealand since 2013. Under the renewed agreement, Suncorp will become the first ever Thatcham Research Global Associate – this provides one of Australia’s largest financial services brands […]
Suncorp Reported Considering Sale of Capital SMART Repairs
Suncorp’s Insurance Ventures investment subsidiary is reported to be exploring the sale of its majority stake in Australia’s second largest collision repair chain. The Australian Financial Review reported that the Suncorp Group’s Insurance Ventures investment arm is considering the sale of its majority ownership position in the Capital SMART repair chain. According to the article, […]
I-CAR Australia Announces Suncorp Insurance Achieves Gold Class
At the recent Board meeting held in Brisbane, I-CAR Australia CEO Mark Czvitkovits announced that Suncorp Insurance has achieved Gold Class Insurer Accreditation. Brett Wallace, Executive Manager – Industry & Repair Performance at Suncorp said, “Suncorp are extremely pleased to have been awarded Gold Class Insurer status by I-CAR Australia. The achievement demonstrates the ongoing […]
Suncorp Acquires LKQ Stake in ACM Parts
Suncorp Group announced it has acquired full ownership of the ACM Parts joint venture after purchasing that stake owned by LKQ Corporation (NASDAQ:LKQ), Suncorp’s partner in the joint venture. Originally announced in August 2013, the ACM Parts joint venture brought together the US-based non-OEM and recycled parts supplier with Australia’s largest insurer to establish an […]