TAC delivers record client satisfaction result

04 Oct 2006

MEDIA RELEASE - 4 October 2006

The Transport Accident Commission (TAC) provided $675 million in support services to more than 41,000 Victorians in the 2005/06 financial year, TAC Chairman, Mr James MacKenzie announced today.

Mr MacKenzie said the TAC Annual Report - tabled in State Parliament today – also showed that the TAC has achieved its highest-ever levels of client satisfaction.

“During the past year, the TAC has focused on working with its strategic partners to meet its dual objectives of client service and scheme viability,” Mr MacKenzie said.

Mr MacKenzie said key results for 2005/06 included:

• $675 million in support services for 41,225 clients
• Highest-ever client satisfaction score of 7.4 out of 10
• Record low claim lodgements
• More than $12.6 million in funding for trauma research through the Victorian Neurotrauma Initiative
• Commitment of $60 million per annum (indexed over 10 years) to further improve road safety infrastructure
• A new campaign “The Hidden Toll” to refocus attention on the ripple effect of road trauma
• Staff retention rate stable at 89%
• Write-down in projected liabilities of $128 million
• Funding ratio of 109.6%
• Strong investment return of 14.1%
• Performance from insurance operations of $437 million
• After-tax profit of $604 million, driven largely by buoyant investment markets

Mr MacKenzie said the record-high client satisfaction score was a reflection of the commitment and dedication of the TAC’s staff.

“The fact that this year’s client satisfaction score is the highest-ever for the fourth consecutive year also reflects the TAC’s determination to continually improve in everything we do,” he said.

“Through the initiative and innovation of our staff, we have not only improved the way we deliver services to our clients, but we have done so while achieving outstanding financial results.