1. TM www.adjustersworldwide.com 1 Paul A J May LLB (Hons), MBA, FCII, FCILA, FIRM, AdipC, DipAIS, MCIArb, FCMI, MAE, ELAE, AMIMC, FinstD, FIFAA Deputy President – International Federation of Adjusting Associations Singapore 7th – 8th October 2008 5th Asian Conference on Claims Management in Insurance Global Claims Developments

2. TM www.adjustersworldwide.com 2 With thanks to our sponsors… Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008

3. TM www.adjustersworldwide.com 3 Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008

4. TM www.adjustersworldwide.com 4 Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008

5. TM www.adjustersworldwide.com 5 Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008

6. TM www.adjustersworldwide.com 6 Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008

7. TM www.adjustersworldwide.com 7 Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008

8. TM www.adjustersworldwide.com 8 Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008

9. TM www.adjustersworldwide.com 9 Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008

10. TM www.adjustersworldwide.com 10 PROTECTION Of PEOPLE's interests From other PEOPLE’s acts or omissions By PEOPLE in insurers, brokers, adjusters, specialists, lawyers… Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008

11. TM www.adjustersworldwide.com 11 IFAA Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008 Association of Associations Standards Global Best Practice Influencing the “community” “International Best Practice” London 30 th April, 2009

12. TM www.adjustersworldwide.com 12 THE UNEXPECTED Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008 Who can predict the future? Optimists – underwriters Pessimists – claims managers Scenario analysis

13. TM www.adjustersworldwide.com 13 REGULATION Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008 Protection of the people Comprehensive vigilance How secure is the insurance industry? Past performance Present performance

14. TM www.adjustersworldwide.com 14 PERSONNEL Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008 Claims professionalism Selection and training A claims seat at board level Rewards on par with underwriting and sales

15. TM www.adjustersworldwide.com 15 RISK AVERSION Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008 Aversion to the risk of paying the claim? Retrospective underwriting Delegation or abdication? Checkers checking the checkers….

16. TM www.adjustersworldwide.com 16 LEAKAGE Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008 “Leak” “Leakage” measurability Fix the claims pipeline…collectively Zero tolerance?

17. TM www.adjustersworldwide.com 17 BEST PRACTICE Global Claims Developments Paul A.J. May Claims Management in Insurance Singapore 7th October 2008 Insurer Adjuster National Global Consultation

18. TM www.adjustersworldwide.com 18 Paul A J May LLB (Hons), MBA, FCII, FCILA, FIRM, AdipC, DipAIS, MCIArb, FCMI, MAE, ELAE, AMIMC, FinstD, FIFAA Deputy President – International Federation of Adjusting Associations Singapore 7th – 8th October 2008 5th Asian Conference on Claims Management in Insurance Global Claims Developments