KEYNOTE PRESENTATION

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1 KEYNOTE PRESENTATION

2 Combining operational efficiency, talent and technology to drive profitability and claims service Strategic Claims 2016, The Insurance Network London, March 3rd 2016 Ian M Thompson, GI Chief Claims Officer, EMEA & Zurich Insurance Plc INTERNAL USE ONLY

3 Combining operational efficiency, talent and technology to drive profitability and claims service What I will cover: Aligning Claims to Business Priorities Making a Difference Through Claims A Blueprint for Claims Our people 3

4 Aligning Claims to Business Priorities Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 4

5 Aligning Claims to Business Priorities Customers People Community Shareholders Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 5

6 Aligning Claims to Business Priorities Customer People Efficiency Indemnity Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 6

7 Making a Difference Through Claims Customer People Efficiency Indemnity Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 7

8 Profitable Growth Making a Difference Through Claims Customer Experience 8

9 Making a Difference Through Claims Average GWP per customer ( ) Policy retention (%) +81% +19 ppt 88% 2,472 2,804 83% 3,966 1,551 69% 2, Detractors Passives Promoters Detractors Passives Promoters Source: Zurich Insurance Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 9

10 Making a Difference Through Claims YOY improvement in RNPS +76% Customers with claims Customers w/o claims RNPS +1pt GWP +$50M 1 0

11 Making a Difference Through Claims Customer People Efficiency Indemnity Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 1

12 Making a Difference Through Claims Motor Cash flows per 100 of premium Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 1

13 Making a Difference Through Claims Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 1

14 Making a Difference Through Claims 1

15 Making a Difference Through Claims 1

16 Making a Difference Through Claims 1 6

17 A Blueprint for Claims The world changes and the GI Claims Blueprint helps Claims to adapt Exploding customer expectations Enhance country operating models Orientation for countries to push boundaries on digitization and to take a leading role among competitors Increasing digitization and automation Increasing availability of external data and possibility to generate insights Increasing need for proactive and continuous improvement mindset Respond to evolving customer needs Provide guidance for investment decisions Frame opportunities for shared services Foster ongoing strategic initiatives Optimization of claims experience via increased speed, convenience and simplicity as well as technical excellence Consideration of key design elements for operating models before hardwiring IT platforms Framework for approaching right sourcing decisions within claims Acceleration and support of key strategic initiatives Leading to optimization of all elements of the claims triangle customer satisfaction, effectiveness and efficiency 1

18 A Blueprint for Claims 1

claims processes We will leverage internal as well as external data and insights, hence, optimizing the knowledge we bring to each

19 A Blueprint for Claims We will be more customer-experience focused, centered around the fulfillment of the critical requirements from our target customer segments We will optimize our operations around digitalization & automation, striving for fast and simple claims processes We will leverage internal as well as external data and insights, hence, optimizing the knowledge we bring to each claim We will foster a proactive mindset focused on the right financial outcome, driving excellence in claims handling to the next level 1

A Blueprint for Claims GICB Components I Functional map II Design elements III Maturity assessment GICB (determined by GI Claims) Guidance for key claims design elements

blueprint Claims operating models (determined by countries) BU C claims operating model BU B claims operating model BU A claims operating model Country claims operating

20 A Blueprint for Claims GICB Components I Functional map II Design elements III Maturity assessment GICB (determined by GI Claims) Guidance for key claims design elements Minimum standards Defining Zurich-wide minimum standards in claims handling Excellence Setting out the ambition on the art of the possible Vision for a high-level claims blueprint Claims operating models (determined by countries) BU C claims operating model BU B claims operating model BU A claims operating model Country claims operating models to be derived from GICB Countries accountable for operational setup which includes amongst others the definition of the organizational structure and geographic footprint 2

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25 A Blueprint for Claims Core beliefs for people management Clearly defined career paths set incentives for employees to develop and ensure the right skill sets are in place both for managerial positions and technical expert roles GICB design elements Career path opportunities Sufficient time for team leader to spend on coaching enables people development and continues improvement in all 3 claims dimensions while ensuring a high employee satisfaction Role of team leader Differentiation of 2 main types of role profiles for express and expert claims handlers 1 is crucial to ensure different focus in claims handling while emphasizing customer service as core task of all claims handlers Role of team member 25

26 A Blueprint for Claims Core design elements of GICB A Career path opportunities It is critical to distinguish between a managerial and technical career path Managerial career path from claims handler to team leader in both express and expert Additionally, technical career path for expert claims handler Rotational assignment to QA for 1-2 years to grow into further general management positions or an accelerated path to team leader B Role of team leader Different focus and mindset reflected in 2 main role profiles of team leaders express and expert Express team leaders drive process optimization/standardization and aim at achieving process and execution-driven indemnity control Expert team leaders focus on achieving technical excellence in their teams and expertise-driven indemnity control At the same time, both are accountable to ensure customer satisfaction C Role of team member Team member job profiles differ for express and expert, but both have good communication skills, empathy, and attentiveness as critical elements 26

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28 A Blueprint for Claims Digital Immigrant. or Digital Native? Source: Webnooks Design & Multimedia and Greenbook 2

29 A Blueprint for Claims 2

30 A Blueprint for Claims Source: McKinsey Quarterly Automating the Insurance Industry Jan

31 A Blueprint for Claims Customer People Efficiency Indemnity Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 3

32 Our People 3

33 Our People Source: Webnooks Design & Multimedia and Greenbook 3

34 Our People Culture Eats Strategy for Breakfast Dr. Peter Drucker 3

35 Our People Customer People Efficiency Indemnity Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 3

36 Disclaimer: The views expressed here are solely those of the author and do not necessarily represent the views of Zurich Insurance. 3

37 KEYNOTE PRESENTATION

38 Strategic Claims Event Transformational Leadership Ingrid Woodward FOR INTERNAL USE ONLY

structure to love what you do and bring your best self

39 LEADERSHIP: Sensing and actualising the future that you want to emerge Develop prototype and explore the situation Create structure to love what you do and bring your best self Collective entrepreneurship on the scale of the whole eco-system 39

40 LEADERSHIP: LEADERSHIP AND QUALITIES Be Supportive Solve problems effectively Seeking different perspectives Operate with strong results orientation 40

41 OPPORTUNITIES: 3-7% VISIBLE 5-20% HIDDEN *ASQ research (American Society for Quality) 41

42 THE CUSTOMER IS FIRST TRUE NORTH = VALUE 42

43 DIFFERENCES: 35% Ethnically diverse 15% Gender diverse Companies in the top quartile for diversity financially outperform those in the bottom quartile. 43

44 DIVERSITY: DOES IT MATTER? Flexible and inclusive culture Fair and safe environment Equal access to opportunities 44

45 THANK YOU 45

46 KEYNOTE PRESENTATION

2003 Balanced Scorecard Collaborative, Inc. bscol.com. Best Practice Strategy Maps

2003 Balanced Scorecard Collaborative, Inc. bscol.com. Best Practice Strategy Maps Best Practice Strategy Maps Private Sector Strategy Maps Software Company Strategy Map Increase Shareholder Value Leader in Strategic Markets Diversified Revenue Streams Predictable Profitability Intimacy