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Trends Shaping The Insurance Industry Eficert Conference Istanbul 95 50 HIGH PERFORMANCE U ğ ur Ergün.

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Presentation on theme: "Trends Shaping The Insurance Industry Eficert Conference Istanbul 95 50 HIGH PERFORMANCE U ğ ur Ergün."— Presentation transcript:

1 Trends Shaping The Insurance Industry Eficert Conference Istanbul HIGH PERFORMANCE U ğ ur Ergün

2 95 50 Ugur Ergun A brief presentation of five major trends that will shape insurance industry over five to ten years period

3 95 50 Ugur Ergun Education –B.Sc. in Computer Engineering –MBA IT Industry –Engineer, Manager –Amsterdam, Brussels, Istanbul Insurance –Life, Non-Life Executive –Istanbul Consultant, Trainer –Sabanci University Executive Development Unit –High Performance Consulting –Sales, Marketing, Strategy

4 95 50 Ugur Ergun Trend 1 Polarization –Of market

5 95 50 Ugur Ergun Impact Low End –Standard products –Low cost –Require best operational efficiency High End –Superior products, services –High value –Require innovation and excellent service

6 95 50 Ugur Ergun Trend 2 Disintermediation –No value add, no future

7 95 50 Ugur Ergun Impact Low End –Reach through internet, mobile, call center –Cost cutting pressure –Intermediaries providing just reach may disappear –Only high value adders will survive >Financial Planners, Advisors High End –Demand sophisticated, personalized service –Demand intermediary providing excellent service

8 95 50 Ugur Ergun Trend 3 Data mining –Risk selection

9 95 50 Ugur Ergun Impact Better risk selection Better fraud prevention Lower costs Competitive advantage

10 95 50 Ugur Ergun Trend 4 Specialization –No more General Insurance Company

11 95 50 Ugur Ergun Impact Economies of Scale Alignment to customer needs Innovation

12 95 50 Ugur Ergun Trend 5 Globalization –Was one way street –Now two ways

13 95 50 Ugur Ergun Impact Two core competencies for Insurance Industry Software/IT skills Back office operations efficiency India has competitive advantage India may dominate the market

14 95 50 Ugur Ergun Future Insurance Company 1 High End European Innovative Excellent service provider Represent 1/4 to 1/3 of the market

15 95 50 Ugur Ergun Future Insurance Company 2 Low End Emerging Market/Indian –With European subsidiaries Efficient Excellent IT and operation skills Represents 2/3 to 3/4 of the market

16 Thank You Ugur Ergun HIGH PERFORMANCE


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