Territory Stories

TIO Group Statement of Corporate Intent 1 July 2014 to 30 June 2017



TIO Group Statement of Corporate Intent 1 July 2014 to 30 June 2017

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Tabled paper 992


Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT






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TIO Group

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External Asset Consultant provides advice on appropriate investment strategy; external actuary provides service in Poor investment management practices relation to quantification and minimisation of financial impacts of assets and liabilities mismatch; sensitivity reporting for Insurance and the MAC scheme; Gap analysis for Banking. Rigorous tender process for Asset Consultant; review of performance against benchmarks; Investment Committee to ratify all management recommendations; diversify risks through multiple asset classes and asset managers; risk modelling of assets and liabilities and expected returns; at least one member of the board with investment background. Quarterly investment reviews to review investment environment; monitor and evaluate effectiveness of Asset Consultant; quarterly returns reported to Investment Committee; monitoring current environment. Poor management of major contracts Relationship management with government stakeholders; profitability and performance monitoring; KPI targets and tracking; contracts are managed through a task management system. 190 Mapping of limits and cessions & edits/warnings; review of aggregate exposures; purchase appropriate reinsurance with projection of aggregates to contracts expiry; procedures/manuals; compliance with Reinsurance Management Strategy. Leveraging injury data to help identify trends and issues to ensure resources are targeted at highest risk/cost. Timely recognition of any changes in claim frequency in the premium process. Design and delivery of awareness, education and community engagement programs in consultation with the Road Safety Executive Group. Whole of government risk profiling and mitigation strategies for large projects, e.g. Inpex/lchthys. Regular shareholder, SCI and Government Relations Officer meetings. Current corporate strategy aims to differentiate TIO from other competitors through customer experience. Strategy includes culture and capability build to facilitate our capacity to compete. Poor reinsurance management strategies/practices Poor Road Safety Outcomes Poor stakeholder management Poor strategy implementation TIO Group Statement of Corporate Intent 14