Territory Stories

TIO MAC Report Statement of Corporate Intent 1 July 2008-30 June 2009



TIO MAC Report Statement of Corporate Intent 1 July 2008-30 June 2009

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Tabled paper 541


Tabled Papers for 11th Assembly 2008 - 2012; Tabled Papers; ParliamentNT




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moving to guarantee the funds of banks throughout Australia. While TIO has always been guaranteed by Government, this new development meant we could not rely on this as a core reason for Territorians to invest with us. In line with our overall consideration of TIO's purpose, we came to the decision that we needed to become a niche player in our market, differentiating our banking products to better align with meeting the unique needs of Territorians. It became clear that Territorians did not see TIO as a regular big bank, but as a trusted home lender and savings advisor. In fact, the growth in both deposits and home lending portfolios strongly supported this position. In Alice Springs, we substantially strengthened our insurance presence, leading to significant business growth. Our refurbished Alice Springs office provides a more conducive environment for our customers and our staff. We continue to work on the development of new or realigned products that meet customer needs. The repackaging of Disaster Insurance for homeowners - which provides increased cover for construction demand surge in the event of a major incident which affects multiple dwellings, - was very popular with existing and new customers. 3.3 Community TIO has always enjoyed a strong connection with the Territory community and this was internationally recognised this year when TIO was presented with the Services to the Community Award in the 5th annual Australia and New Zealand Insurance Institute Industry Awards in August. TIO has traditionally contributed a significant amount in direct funding for community projects and activities including road safety research, cyclone education, arts and culture, sport, Neighbourhood and BusinessWatch, health, youth programs, and Indigenous initiatives. While grant funding to community groups and activities remains important, TIO has worked to refocus its sponsorship and advocacy programs to better align with our core purpose of building confidence and resilience among Territorians. A good example of this shift has been the restructuring of support for large community events such as the Darwin Cup Carnival and V8 Supercars. While previously TIO has supported these events through corporate hospitality and sponsorship, we have this year put in place a new program of activity based around road safety education initiatives. One component of this program "Party Safe" a major road safety program run throughout the Cup Carnival included free alcohol breath testing for patrons, car park security and advice on safe transport options for getting home after drinking. This type of sponsorship realignment underlines TIO's capacity to make a difference in the community through advocacy and sponsorship programs. Another example is the "WHY" road safety advertising program, launched in November on television, radio and print, and continued through public relations and community activities. The importance of road safety initiatives should not be underestimated. The Territory's road toll in 2008 was 75, the highest for 20 years. While our relatively small population makes the statistics highly volatile, the fact is that Territorians are three times more likely to die in a road accident than other Australians. The human cost alone is