21 Sep 2017
The Transport Accident Commission’s Annual Report was tabled in State Parliament today, confirming the scheme is delivering improved service for clients and is in a financially sound position.
The report shows the scheme’s focus on the needs of injured Victorians is paying off with the highest ever client satisfaction score of 7.73/10.
“A financially sound TAC is the basis on which the Victorian community can rely on receiving vital support and assistance if they are in a transport accident,” TAC Chair Penny Armytage said.
“The TAC is pleased to have recorded a positive Performance from Insurance Operations of $142 million.”
“These strong financial results are being delivered at a time that we’ve increased our focus on improving health outcomes for our clients.”
The 2016/17 Annual Report also outlines the actions taken in the first year of the TAC’s new strategy to lead the world in social insurance, with its focus on accident prevention and client outcomes.
Key highlights for the TAC in 2016/17 included:
- A new app called myTAC making it easier for clients to access payments
- The highest ever client satisfaction score of 7.73/10
- $1.35 billion in support services and benefits for 48,707 clients
- $1.3 billion profit due to strong investment markets
- Performance from Insurance Operations of positive $142 million
- $119 million invested in 194 road infrastructure projects
- 84% staff engagement (above global standards).