ThoughtWorks and Suncorp Win Prestigious IAward For AAMI Business Insurance Online

Online, August 9, 2011 (Newswire.com) - Australia's three peak bodies in the technology industry - the Australian In formation Industry Association (AIIA), the Australian Computer Society (ACS) and the Pearcey Foundation - came together last Thursday night to deliver the industry's premiere awards event. The 2011 iAwards recognise both companies at the cutting edge of technology innovation as well as leading professionals across the industry.

ThoughtWorks was nominated in three categories, and together with our client Suncorp, won the Financial Services Application category for our joint nomination on AAMI Business Insurance Online.

AAMI Business Insurance Online was a response by Suncorp to Insurance Council of Australia (ICA) research that showed 70% of uninsured and under-insured small businesses would not survive a major loss (e.g. fire, theft, business interruption etc.).

Business insurance has traditionally been sold via an intermediated model, and the idea of a self-serve, online offering was long considered too difficult by many, as people needed to understand insurance to be able to choose the right cover.

"Many small business owners often put obtaining adequate cover into the too hard basket, yet with a major loss, their chances of survival are minimal. With that in mind, Suncorp, aided by ThoughtWorks, created AAMI Business Insurance Online, to make it simple for small businesses to get peace of mind," said Mr Gerard McDermott, Executive General Manager, Direct Distribution, Commercial Insurance, Suncorp.

There was a clear gap in the market and Suncorp set about to be the first insurer in Australia to offer direct Business Insurance online.

The application that ThoughtWorks developed together with Suncorp allows small business operators to research, compare and purchase insurance online and receive immediate cover. The application was designed to be simple, quick and to help educate users about their insurance options. Only three qualifying questions are enough for some occupations to secure cover. The availability of over 100 unique occupations types coupled with rich contextual help give users the information and confidence they need to purchase the right insurance cover for their business, making the AAMI Business Insurance online application a breakthrough offering in the Australian insurance market.

The application went live in February 2011, and has far exceeded Suncorp's expectations in terms of new premiums written and customer feedback. "ThoughtWorks' focus on helping us get the customer experience right, combined with the innovative use of modern web design, has resulted in an application that users love, and the business results speak for themselves" added Mr. McDermott.

To view the winning application: https://quote.aami.com.au/business-insurance

As a leading innovator in the software industry, ThoughtWorks has been recognised together with our clients several times in previous iAwards including:
• National and NSW State Awards for best Financial Industry Application (BT Super for Life) - 2008
• National and Victorian State Awards for best Travel Industry Application (Lonely Planet) - 2009
• National and Victorian State Award for best e-Inclusions application (InfoXchange/Wired@Collingwood) - 2009
• Victorian State Award for best Financial Industry Application (Swann Insurance) - 2009
• NSW State Award for best Financial Industry Application (IAG The Buzz) - 2010
• National Merit Award and S.A. State Award for eCommunity (GaggleHouse - 50@) - 2010

Earlier this year, ThoughtWorks was also recognized in State award ceremonies:

• NSW State iAward for best app in e-Government Category (Smart Services Queensland - Flood Donation Application)
• NSW State Merit Award in e-Community Category (GetUp Campaigns Platform)

For more information about the iAwards, please visit www.iawards.com.au.

About Suncorp:
Suncorp is one of Australia and New Zealand's largest diversified financial services providers, supplying banking, insurance and wealth management products to around 7 million customers through well-established and recognised brands such as AAMI, Australian Pensioners Insurance Agency, Shannons, Vero, Asteron and Tyndall, as well as Suncorp and GIO. Today Suncorp is Australia's sixth largest bank and second largest domestic general insurance group, with over 16,000 staff. Suncorp has representation in 450 offices, branches and agencies throughout Australia and New Zealand. For more information, please visit www.suncorp.com.au