TOWER Australia is committed to ensuring people can obtain the life insurance cover that best suits their needs, quickly and easily. If we can continue to deliver the right products and services to our customers at all levels, then we will continue to be successful. This will require ongoing investment in new technologies to simplify our day to day processes and keep ahead of our competitors. It will also require investing in our people to equip them with the skills and tools needed to understand and service our customers.

SUCCESSFUL AND SUSTAINABLE BUSINESS

Broad distribution footprint through Advice, Workplace and Direct to customer channels

• Broad distribution footprint through Advice, Workplace and Direct to customer channels
• Specialist life insurance company with leading competitive propositions in each of its core markets
• -  Advice: Life insurance for individuals accessed through an adviser
•    No 2 based on sales
• -  Workplace: Life insurance for individuals accessed through workplace schemes
•    No 2 based on inforce premium and sales
• -  Direct: Life insurance for individuals accessed directly or via an alliance partner
•    No 1 based on sales and inforce premium
• A diverse and expert workforce and a goal to be the employer of choice in the life insurance industry
• Strategy to achieve market leadership with the interests of customers and business partners at the forefront
• -  Delivering valued products and services
• -  Strong business partnering and innovative technology
• -  Ensuring people can easily obtain life insurance cover that best suits their needs

AMBITION AND VALUES HISTORY

Retail Products via Full Advice

Independent Financial Advisers remain the cornerstone of the life insurance industry. They are able to provide full advice and tailor outcomes to meet the often more complex needs of the individual customer. TOWER Australia aims to be one of the chosen providers of life insurance products and services to Dealer Groups and advisers. Product design, service, partnerships, relationships, innovative processes and technology are the key drivers of growth in this channel. TOWER Australia differentiates itself though technology backed application processes such as its electronic underwriting product and process "Accelerated Protection" and its continued industry advocacy role on behalf of Dealer Groups and their advisers.

Group and Workplace

Many people obtain life insurance cover through their employer schemes, superannuation schemes or through other investment platforms such as Mastertrusts. This is a fast growing part of the life insurance market in Australia. TOWER Australia's strategic focus on solutions design, technology differentiation and strong business to business partnering has proved successful in it winning a number of new mandates in 2009 and strengthening its presence and profile in this channel.

Direct to Consumer

Life insurance offered direct to customers through mass media is the fastest growing sector in the life insurance market in Australia. InsuranceLine, which was acquired by TOWER Australia in late 2008, has been growing its business strongly over the last decade and is today the largest direct distributor of life insurance products in Australia. Direct sales through InsuranceLine and through alliance partners requires strong marketing and selling capability. TOWER Australia's strategy is to maintain its market leadership in this channel.