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The former chief executive of insurance at Suncorp has commenced a three-year tenure as a board member of the financial complaints body.
The Australian Financial Complaints Authority (AFCA) has welcomed Gary Dransfield, the former CEO of insurance at Suncorp, as a non-executive director to its board.
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Mr Dransfield, who has a wide range of insurance and financial services experience over his 35-year career, commenced his board position this month (effective 1 January 2022).
Prior to joining AFCA, the retail financial services executive had held a range of senior roles at Suncorp (including as CEO of insurance, CEO of customer platforms and CEO of personal insurance units), and held several senior roles at Vero, including as CEO of Vero Insurance New Zealand.
He is also credited with having played an “integral role” in the conversion of St.George from a building society to a bank.
Speaking of his appointment, AFCA chair John Pollaers commented: “Mr Dransfield will bring a wide range of skills from his distinguished executive career and his experience as a non-executive director.
“We particularly welcome his extensive experience in general insurance, which represents 24 per cent of AFCA’s business.
“We will benefit both from his deep business experience and from his career-long focus on the customer. We are pleased to have been able to attract someone of his calibre as we refresh our board three years on from AFCA’s inception.”
Mr Dransfield is a former president and chair of the Insurance Council of Australia, former president of the Insurance Council of New Zealand, and a former director of CareFlight NSW.
He is currently a non-executive director with Hollard Insurance and chair of the panel advising the NSW government on the design of decennial liability insurance for apartment buildings.
Mr Dransfield commented: “I look forward to contributing to AFCA, a purpose-driven organisation that delivers such an essential service in helping consumers, small business and financial firms resolve disputes.
“Having led customer-facing businesses, I welcome this new opportunity to help enhance engagement between the financial services sector, consumers and community.”
As well as welcoming Mr Dransfield, the AFCA chair also thanked outgoing board director, Johanna Turner, for her five years of service.
Ms Turner had been a member of the board of predecessor organisation the Financial Ombudsman Service (FOS) before joining the AFCA board when it combined the responsibilities of FOS, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal in 2018.
Professor Pollaers said: “Combining three separate financial dispute resolution schemes in one organisation was a significant step. Johanna played a really important role in helping AFCA make that transition and in significantly maturing AFCA’s governance, risk and reporting frameworks.”
[Related: AFCA members to see ‘near real-time’ complaints data]
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