1. #-Anything!
SMS
Cellphone
MMS

2. Peter Olyott : CEO Indwe Broker Holdings (Pty) Ltd
Insurance 2021?:
Insurance 2021
Peter Olyott : CEO Indwe Broker Holdings (Pty) Ltd
October 2016
Good morning

3. GAME CHANGERS – PART 1 INTERNET OF THINGS : INTEGRATED DATA STREAMING
IOT : Motor vehicle connectivity
IOT: Health , Lifestyle
IOT : Weather , Crime Stats
IOT : Inter connectedness : what have you bought e.g a fridge – autocover confirmation for 30 days .
IOT : Inter connectedness : what have you bought e.g Golf Clubs – 1st time – 5 free Golf Lessons

4. GAME CHANGERS – PART 2
CONVERGENCE OF FINANCIAL SERVICES : “ONE ADVISORY COMPANY PROVIDING ACCESS TO : INVESTMENTS , LIFE , DISABILITY , HEALTH , SHORT TERM INSURANCE , ESTATE PLANNING – CHARGING ONE FEE FOR ALL SERVICES !”

5. A converged offering? Outcome 4 : Treating Customers Fairly
“The advice is suitable and takes into account their circumstances “
“A personalised , appropriate risk identification and evaluation of the financial requirements to maintain the current lifestyle of the customer and to ensure their future desired lifestyle given their available and planned financial resources”
pro/july2015

6. = Income All my insurance in one place ?
Fixed Monthly Costs : Client and Dependents
Savings
Life
Investment
Disability
Retirement
Tax (Direct/Indirect/CGT/Estate Duties)
Healthcare
Accident /Liabilities
Fixed Asset Insurance
Mobile Asset Insurance
Estate Plan-ning =

7. #uBErSure 2021 : # PremiumsMustFall!
One Converged Policy : One Primary Payment Collection Method
One Financial Services Advisor
One Advice Fee
Savings of 8% on each policy on marketing costs
Standardised Advisor Commission Earnings of 4% across all policies
Cover balance between products changes as life need changes
Lifestyle Protection
Income Protection
Wealth
Health

8. #uBErSure Customer chooses : Buys Direct –D.I.Y. – Online
Buys Direct via Advisor –Online or Voice
Buys via an Advisor – Voice or Online
Buys via a Personal Insurance Advisor- Face2Face or Voice
All via one Company!
U-BErSure Product Range
House, Contents & Car
Life , Accident and Health
Disability
Investment
Savings
Estate Planning
Executorship

9. Significant Insurance Companies in the late 1990’s
YOU WERE IN THE INDUSTRY ALREADY IN THE 80’S AND EARLY 90’S .
I TRIED TO SEARCH FOR A WHOLE LOT MORE LOGOS OF COMPANIES SUCH AS IGI , GUARDIAN NATIONAL , NEG , PROTEA AND - ………….ZIP , NADER , NOTHING.,
NOW THAT’S SCARY BECAUSE EVEN DINOSAURS LEAVE SKELETONS BEHIND.
THESE ARE A SMATTERING OF SOME WELL KNOWN INSURANCE NAMES I JUST SIMPLY COULD NOT FIND- SO IF YOU KNOW WHERE I CAN GET THE LOGOS PLEASE LET ME KNOW.

10. New Insurance Companies in the past 15 years
FOR THE YOUNGER GENERATION !
SOME OF THESE ARE OLDER BUT REINVENTED THEIR BRANDS AND NAMES SO I AM TREATING THEM AS NEW BUT ONE OR TWO MAY ALREADY BE READY TO MOVE ON AGAIN !

11. NEW INSURERS IN THE NEXT 5 YEARS?
DISCOVERY
INTEGRATED

12. Discussion Points
      the constant of change
the insurance sector and change
economic, environmental and geo-political changes
      technological advances and digitalisation of the insurance market
consumer  rights
      highly competitive market and international expansion
      continuous regulatory changes
      enhanced strategy and model development
conclusion
WE HAVE A LOT TO GET THROUGH AND IN THE 40 MIN OR SO WE WILL NOT BE ABLE TO DO JUSTICE TO EACH OF THE DISCUSSION POINTS – SO MY AIM IS TO PROVIDE YOU WITH JUST ENOUGH TO HOPEFULLY SPARK SOME THOUGHT , INTROSPECTION AND , JUST MAYBE SOME MORE INNOVATIIVE SOLUTIONS .

13. The Constant of Change
All good things must come to an end.      -- H.H. Riley (1857)
Nothing remains constant except change itself.      -- Heraclitus ?(500BC)
He who rejects change is the architect of decay. The only human institution which rejects progress is the cemetery.      -- Harold Wilson
Change is the law of life and those who look only to the past or present are certain to miss the future.     -- John F. Kennedy
The world has always been changing – but now the changes are quicker and some are discontinuous.
BEFORE I GET GOING – I HAVE DESIGNED A FLEXIBLE PRESENTATION DEPENDING ON MY AUDIENCE : I NEED TO DETERMINE THE GENERATIONAL MIX OF MY AUDIENCE AND AS BEFITTING MY GENERATION I SHALL USE THE TIME TESTED METHOD OF A SHOW OF HANDS – AND ….. YOU CAN USE YOUR LEFT OR YOUR RIGHT OR BOTH . NOW WHO WAS BORN BEFORE 1970 ? BETWEEN 1970 AND 1990 AND THOSE AFTER 1990? GOOD NOW I SHALL PROCEED TO TRY AND ACHIEVE A SUITABLE MIX OF TERROR , NOSTALGIA AND ANTICIPATION .

14. Economic Drivers of Change ( a South African Context)
Rising Black Middle Class – Asset Acquisitive due to Asset Deficit
Stagnant to declining White Middle Class
Black Middle Class now exceeds White Middle Class in Size
The Top 1% of the population controls 40% of the economic buying power in the country.
THE GROWTH OF THE POWER OF THE MEDIA PARTICULARLY IN RESPECT OF PERSONAL INSURANCE SIGNALLED A CHANGE IN THE GAME OF PERSONAL INSURANCE – THIS TOGETHER WITH THE RISE IN THE BLACK MIDDLE CLASS BUT ALSO ACROSS RACIAL GROUPINGS THE NEW GENERATION E.G THOSE BORN AFTER IN PARTICULAR SAW THE INTERMEDIARY MARKET WHO TYPICALLY OPERATED ON A WORD OF MOUTH OR REFERRAL BASIS LOSE GROUND .
THERE ARE OPPORTUNITIES FOR THE INTERMEDIATED MARKET TO REGAIN SOME LOST GROUND – PROVIDED WE LEARN TO COLLABORATE AND NOT TRY TO BE ALL THINGS TO ALL PEOPLE – SPECIALISATION IS THE GAME

15. The Insurance Sector : 2016
One of the global economic sectors set to be subject to the most disruptive change in the next ten years !
WELL IF YOU HATE CHANGE YOUR CURRENT OCCUPATION WILL YIELD APPROPRIATE DEGREES OF TERROR , NOSTALGIA AND …………………….. SORRY I CANNOT THINK OF A MORE APPROPRIATE WORD THAN THIS SOUTH AFRICAN GEM – GATVOLNESS .

16. The Constant of Change
Why the Insurance Model is such an appealing model for change 1
100
The Relative Cost of Insurance
Severity of Losses
The Level of Self Insurance we
should be buying at .
WHEN I STARTED AS A BROKER A GOOD PERSONAL LINES MOTOR EXCESS WAS R250 – THE ACTUARIES OR MATHMATICIANS AMONGST YOU CAN EXTRAPOLATE THE VALUE OF R250 IN TO A VALUE TODAY – MY STSM METHODOLOGY ARRIVES AT A VALUE OF BETWEEN R AND R AND YET WE TRY PROMOTE LOWER EXCESSES – BECAUSE IT OBVIOUSLY COSTS MORE AND WE EARN MORE COMMISSION BUT EVEN THE DIRECT INSURERS WHO CHARGE EXCESSES AT AROUND 40% OR 50% OF THAT LEVEL DO SO – BECAUSE THAT IS BALANCE BETWEEN THE PREMIUMS BEING TOO LOW AND WHAT WE HAVE “EDUCATED” THE CONSUMER ABOUT – ONE DAY THEY WILL DO THE SUMS THEMSELVES.
100
The Max Level of Self Insurance we
Currently buy
Frequency of Losses
100

17. Distribution – Marketing Administration/Re-insurance
The Constant of Change
Why the Insurance Model is such an appealing model for change
The Cost of Insurance
Claims
Distribution - Sales
Distribution – Marketing
8% to 20%
Administration/Re-insurance
8% to 12%
Profit
5% to 8% ?
40% to 70% ? ?
I THINK THIS DIAGRAM APTLY ILLUSTRATES ALL OF THE AREAS OF OPPORTUNITY IN THE MODEL :
THE FIRST PART TACKLED WAS THE SUPPLY CHAIN MANAGEMENT IN CLAIMS – THAT’S A BIG NUMBER AS WELL AS PRICING AND RISK SELECTION – STREETS AHEAD OF WHERE WE WERE IN THE 80’S, 90’S ALTHOUGH INDUSTRY STILL STRUGGLE TO MAKE MONEY ON MOTOR. NEXT ON THE LIST IS THE COST OF DISTRIBUTION AND SALES AND MARKETING – REGULATORY PRESSURES PLAYING THEIR PART – BUT ULTIMATELY IT IS JUST ABOUT THE GENERAL DISTRUPTION OF THE INDUSTRY – ONCE IT STARTS TO GO ACROSS BORDERS – THEN THE FUN STARTS
10% to 20% ? ?

18. Drivers of Change in the Insurance Sector
Robotics and Process Automation
Big Data
Competition
Climate Change
Technology
Legislation
Societal
I AM LOATHE TO THROW JARGON AROUND – PARTICULARLY THINGS LIKE BIG DATA AND ROBOTICS – PRECISELY BECAUSE WHEN I TRY AND MAKE MORE INDPETH ENQUIRIES AS TO WHAT A PARTICULAR PERSON IS SAYING ON THE SUBJECT – I KINDA GET THE FEELING THEY ARE RESPONDING FROM A REHEARSED SCRIPT FROM A BANDWAGON RESPONSE- TO ME THE EXCITEMENT LIES IN USING ALL OF THESE DRIVERS OF CHANGE TO NOT ONLY CHANGE HOW WE DO THINGS IN THE INDUSTRY BUT TO DRIVE PRODUCT INNOVATION . I AM AFRAID TO CONFESS AS AN INDUSTRY AND I AM TALKING THE SHORT TERM INDUSTRY HERE – WE ARE AT THE BOTTOM OF THE INNOVATION CURVE.

19. Economic Drivers of Change ( a South African Context)
Rising prices
Consumers experiencing tighter financial constraints
Retrenchments
Economic stagnation since 2009
Declining sectors : mining , agriculture , primary manufacturing.
Resource sectors
I CAN GIVE A LONG DIATRIBE ON THIS SLIDE AND SEND YOU ALL INTO A STATE OF DEPRESSION – BUT I WON’T – I ONLY HAVE ONE THING TO SAY AND THAT IS : ALL OF THESE ECONOMIC CHANGES WHEN MARRIED TO THE TECHNOLOGY AND SOCIAL CHANGES – MEAN DISRUPTION IS GOING TO HAPPEN WHETHER WE LIKE IT OR NOT.

20. Economic Drivers of Change : Exchange Rates
The Rand to the US$ in March : R2,09
The Rand to the US$ in : R9.50
The Rand to the US$ in 2011 : R11.20
The Rand to the US$ : R17.80
The Rand to the US$ 2016 : R13,50
NOSTALGIA FOR SOME , TERROR FOR OTHERS AND WTF FOR THE NEWBIES .

21. Economic Drivers of Change : Exchange Rates
The Rand to the British Pound in 1987 : R3.23
The Rand to the British Pound in 2009 : R13.25
The Rand to the British Pound in 2011 : R15.65
The Rand to the British Pound in January 2016 : R17,85
THE IMPORTANT MESSAGE THROUGH ALL OF THIS IS THAT WE OPERATED IN A BUSINESS WHERE INFLATION WAS HIGH DOUBLE DIGITS (18% TO 20% ) , INTEREST RATES WERE DOUBLE DIGITS AND GROWTH WAS LOW SINGLE DIGIT .
WHAT ALL OF THESE CHANGE IN LEAD INDICATORS PRECIPITATE IS A CHANGE IN THE GAME .

22. Economic Drivers of Change ( a South African Context) – what this means from an Advisor Perspective ?
Marketing strategies need to change
Clients want much more , for much less
Educate clients
Risk and Insurance Strategies must change
Risk and Insurance Specialisation
i AM NOT EVEN GOING TO REPEAT THAT HACKNEYED PHRASE ABOUT DOING THE SAME THINGS IN THE SAME WAY AND EXPECTING A DIFFERENT OUTCOME :
FOR ADVISORS IF YOU ARE NOT ADVERTISING OR USING THE MEDIA YOU ARE GOING TO FIND IT DIFFICULT TO COMPETE AND SURVIVE IN THE INDIVIDUAL AND SMME SPACE .
NEWCOMERS APPEAR TO BE OFFERING YOUR CLIENTS MORE FOR LESS OR AT THE LEAST THE SAME FOR LESS
ALL OF THE ADVERTIISG IS FOCUSSED ON THE PRICE OF THE PREMIUM AS THOUGH THE CLAIMS ARE NOT THE ONLY REASON SOMEONE BUYS INSURANCE .

23. Environmental Drivers of Change
Global Warming
Changing Weather Patterns
Hail Storms
Christmas in July ? What about Winter in October ?
Globally patterns are similar with hurricanes in the US in winter ,
At ;LAST CONVERSATIONS CONCERNING THE WEATHER ARE BACK IN VOGUE AND NO LONGER JUST AN EMBARRASING SILENCE BREAKER.
THE BIGGEST ISSUE APPEARS OT BE THAT HISTORIC RECORDS ARE BECOMING LESS USEFUL AS THE NATURE AND TIMING OF WEATHER PATTERNS CHANGE . SUMMER RAINFALL IS STARTING LATER AND IN THE CASE OF GAUTENG MOVING INTO EARLY WINTER – WE EVEN HAD A THUINDERSTORM IN JULY LAST YEAR .
ONCE REGULAR OCCURRENCES SUCH AS HAILSTORMS AND FLOODING OCCURS – INSURERS CHANGE THEIR APPROACH TO RISK – IN CERTAIN AREAS THE COST OF INSURING THESE PERILS CAN BECOME PROHIBITIVELY EXPENSIVE OR VERY RESTRICTIVE AND SUBJECT TO MANY TERMS AND CONDITIONS.
FACT IS AN ADVISOR ONE WILL NEED TO VENTURE BEYOND JUST INSURANCE CLAIM SOLUTIONS AND VENTURE INTO RISK PRTOECTION , PREVENTION AND MITIGATION,

24. Environmental Drivers of Change : What this means from an advisor perspective
For starters : understand the damage that Hail/Flooding can bring about
Identify whether your clients are located in vulnerable areas
Then understand what can be done to minimise the impact of hail/Flooding
As an advisor it is starting to get more complicated – on personal lines for instance clients living in certain redefined flood zones or hail zones are finding cover more expensive and more restrictive and in some areas one might need to look at alternatives where Insurers are just not interested in insuring the property.
I have come to accept that Hail can fall just about anywhere in the country now and in areas where there has been no or very little historical data the first hail storm could be on the insurers – but you can bet thereafter the terms and conditions of cover will change .

25. Geo – Political Drivers of Change
China
India
China and India starting to collaborate – China’s low cost manufacturing and India’s highly skilled low cost technology development capability.
The Chinese Yuan now one of the world’s reserve currencies forming part of the IMF’s SDR currency back up
BRICS
Extremist Groups
CHINDIA “ REMEMBER WHERE YOU FIRST HEARD IT “
WHY IS IT SO IMPORTANT ? DOES IT REALLY IMPACT SOUTH AFRICA THAT MUCH ?
CONSIDER THAT THE COMBINED POPULATIONS OF THE TWO COUNTRIES ACCOUNTS FOR 35,4% OF THE TOTAL GLOBAL POPULATION – SA 0,7%
4 OUT OF 10 GRADUATES WILL COME FROM CHINDIA BY
IN 2014 ALONE 7,4m STUDENTS GRADUATED FROM CHINESE UNIVERSITIES.
FUNDAMENTALISM /EXTREMISM ARE GROWING PROBLEMS WHERE LARGE PARTS OF A POPULATION FEEL MARGINALISED OR EXCLUDED .

26. Technological Advances and Digitalisation of Insurance
Motor :
User Based Insurance (UBI)
Self Parking Vehicles
The Connected vehicle : same risks as mobile devices, computers
MotoCam
Apps
Tyres?
Automated Assessments
Insure as you go
MY FAVOURITE TOPIC IN INSURANCE – MOTOR INSURANCE !! 46 % OF ALL SHORT TERM INSURANCE IN SOUTH AFRICA AND THE SUBJECT MOST ON THE MINDS OF SHORT TERM INSURER ACTUARIES . DOMINATE MOTOR INSURANCE AND YOU DDOMINATE THE INDUSTRY .
BUT THE PRODUCT WE SELL TODAY IS NOT MARKEDLY DIFFERENT FROM THE PRODUCT THAT WAS BEING SOLD WHEN I ENTERED THE MARKET : YET ONE CANNOT COMPARE A 1981 DATSUN 180U WITH A NISSA QUASHQAI FOR EXAMPLE
GLOBALLY TRENDS SUCH AS UBI ARE GAINING TRACTION AMONGST MILLENIALS AND THE RETIRED FOLK – MAKES SENSE – ONE ONLY PAYS FOR WHAT ONE USES . WE FIRST ANNUAL POLICIES , THEN ANNUAL PAID MONTHLY , THEN TRUE MONTHLY AND NEXT ……………..PAY AS YOU GO INSURANCE . TWO WEEKS , ONE WEEK , ONE DAY – BALANCE THIRD PARTY FIRE AND THEFT FOR 11 MONTHS OF THE YEAR AND COMPREHENSIVE FOR THE ONE MONTH ANNUAL VACATION – FAR FETCHED ?
SELF PARKING VEHICLES ? WHOSE LIABILITY – VOLVO IS ALREADY CLAIMING TO ACCEPT LIABILITY ARISING FROM IT’S AUTONOMOUS VEHICLES – SO WE TAKE

27. Technological Advances and Digitalisation of Insurance
Motor :
Remote Controlled Hail Protection Device
Smart Phone App to connect with Vehicle
Uber?
CarPlus (Community Car Network )
Focus on reduced cost of repair using technology ?
I came across this parked vehicle hail protection device in the USA – priced at Around us$350 retail – I believe there must be an opportunity for an SA Entrepreneur to develop a local version – just like an airbag for a car – if we can retail below R2 500 – I think it will be a winner.
Looking at the new 7 series BMW advert – a taste of things to come – tablet controls just about everything remotely in the cas- but sends shivers up my spine when the system becomes infested or corrupted.
The other thing which caught my eye was this week’s Carte Blanche and the self healing materials – can you imagine a self healing motor vehicle body part ?

28. Technological Advances and Digitalisation of Insurance :What does this mean from an advisor point of view ?
I think we need to relook at motor insurance – no one seems to be making piles of money out of motor underwriting ? A bit like investing in an airline ?
The product was designed when one could basically fix your car next to the road with a bit of blou draad and duct tape . Now the only reason why the bonnet is up when the car is next to the road is to provide shae while you phone emergency sevcies
OUR CARS ARE BECOMING INCREASINGLY MOBILE COMPUTERS – ALSO WHY DO WE COMPARTMENTALIZE MOTOR RISK – WHY IS ACCIDENT AND THEFT DAMAGE IN ONE CORNER , MECHANICAL AND ELECTRICAL BREAKDOWN IN ANOTHER AND SERVICING COSTS IN ANOTHER – WHILST THERE IS AN INTEREPENDENCY AND SPREAD OF RISK BENEFIT IN ALL THREE PRODUCTS.
IF MOTOR INSURANCE WAS SUCH A GREAT PRODUCT WHY ARE ONLY 40% OF THE CARS OUT THERE INSURED ( PERSONALLY I THINK IT IS CLOSER TO BETWEEN 50% TO 60% ARE INSURED AND 40% AR ENOT INSURED – BUT THAT IS A DEBATE FOR ANOTHER DAY.
Push Insurers for product development
We need to up our advice quality
Motor comprises around 46% of the total short term insurance industry premium

29. The Impact of Consumer Rights
The Constitution of the Republic of South Africa , Act 108 , 1996
Chapter 2 , Bill of Rights
The Consumer Protection Act , 68 of 2008
All just aligning with global consumer rights
THE CONSUMER PROTECTION ACT – HAVE WE CRIED WOLF . NOT MUCH SEEMS TO HAVE HAPPENED SINCE IT WAS PROMULGATED IN 2011.
83 POSTS OUT OF 185 APPROVED POSTS FILLED
5242 CONSUMER COMPLAINTS FILED IN YEAR ENDING 2015
38% FEMALE AND 62% MALE ? NOT SURE WHETHER THAT BREAKS ANY MOULDS BUT 48,7% OF POPULATION IS MALE 
64% OF COMPLAINANTS WERE UNDER 45 YEARS OF AGE
TOP COMPLAINT CATEGORIES : MOTOR VEHICLES , CELLPHONES , RETAIL, FIANNCIAL SERVICES .
POOR SERVICE DELIVERY AND DEFECTIVE GOODS – 47% OF ALL COMPLAINTS

30. The Impact of Consumer Rights
Why is all of the above important to know ?
The are all seated in law – ie is they are a legal requirement .
Power to the consumer – it is less about “Caveat Emptor” and more about “Sit Venditor Respondeat”
DURING 2014/2015 THERE WERE 8 SIGNIFICANT PRODUCT RECALLS
52 INVESTIGATIONS BY NCC OF BUSINESSES IN SHADY BUSINESS DEALINGS
INTERESTINGLY MAJORITY OF THE CLAINMS AND COMPLAINTS COMING FROM THE BELOW 30 YEAR OLD MARKET – CLEARLY GOING FORWARD WE CAN EXPECT GROWING LEVELS OF OCNSUMERISM IN SOUTH AFRICA

31. Highly Competitive Market and International Expansion : Foreign Insurance Players in South Africa
INVESTMENT IN SOUTH AFRICA DOES NOT LOOK QUITE AS GOOD AS IT DID AROUND 2006 TO WHEN THE RAND WAS AT AROUND 6,27 TO 8,25
ECONOMIC STAGNATION AND AN ABOUT TURN ON EMERGING MARKETS MEANS FOREIGN INVESTORS ARE RETHINKING THEIR INVOLVEMENT
THERE ARE PLAYERS WHO HAVE BEEN HERE FOR QUITE SOME TIME SO WE DO NOT EXPECT THEM TO LOOK TO EXIT .
THE BIG FOREIGN OWNED BROKERS DOMINATE THE CORPORATE AND/OR GLOBAL BUSINESS IN SOUTH AFRICA.

32. Regulatory Change : What Lies Ahead?
FAIS Act 37 of How to go about servicing and advising clients
Treating Customers Fairly- How to deliver fair and relative advice and products
Retail Distribution Review - Linked to Insurer Solvency Reporting
Twin Peaks : Introduction of the SA Reserve Bank into the equation
SAM –see RDR
Changes to the Insurance Acts by the Insurance Bill
REGULATIONS , REGULATIONS , REGULATIONS !
IN THE MIDST OF A STAGNANT ,(SOME SAY SHRINKING ECONOMY ) WE ARE LOOKING AT MAKING THE FINANCAIL SERVICES SECTOR A MORE REGULATED COSTLY PLACE TO BE .
TALKING FROM A SHORT TERM ADVISORS POINT OF VIEW – THE 2014/2015 COST OF THE FAIS OMBUD WAS AROUND R34.5m
The COST OF CONSUMER COMPLAINTS RELATING TO ADVISORS WAS AROUND R35m
THE TOTAL NUMBER OF COMPLAINTS RECEIVED WAS AROUND 0,300% OF THE TOTAL CUSTOMER BASE
WITH RDR PENDING IT IS UNLIKELY TO BE SPURRING ANY THOUGHTS OF NEW JOB CREATION IN THE INTERMEDIARY SECTOR .

33. Big Data is like Teenage Sex:
Everybody talks about it , nobody really knows how to do it ,everyone thinks everyone else is doing it,so everybody claims to be doing it.

34. Enhanced Strategy and Modelling Development : An Advisor viewpoint
KNOW THINE CUSTOMER – INSIDE OUT , UPSIDE DOWN AND BACK TO FRONT
TO A LARGE EXTENT THERE IS A MYTH PERPETUATED IN CORPORATES ABOUT OWNING THE CUSTOMER : DON’T KNOW ABOUT YOU BUT I CERTAINLY DON’T FEEL OWNED BY ANYONE OTHER THAN PERHAPS SARS 
COMPANY’S MAY OWN THE CHANNEL TO A PARTICULAR PRODUCT PURCHASED OR USED – BUT I AM AFRAID THAT IS ABOUT IT .
A lot of data BUT we know very little
GIS Mapping
Increasing power of analysis of the customer
Remember too – the customer knows more about you as well !!

35. Enhanced Strategy and Modelling Development : What does this mean for an advisor ?
Knowledge of who our client is has to improve
No ones owns the customer – one only owns the channel one uses to the customer . So he who knows the customer is at an advantage .
Rethink our customer information sources : what we need , where to find it & how to use it to improve the customer experience.
Difficult to be all things to all people : choose your niche and excel at it .
SO TO GAIN ASCENDANCY ONE NEEDS TO KNOW MORE ABOUT ONE’S CLIENT THAN JUST THE ICT RATING , ID NUMBER AND CLAIMS HISTORY.
FROM AN ADVISOR POINT OF VIEW – IF WE RELY ON THE INSURERS TO GET ALL OF THE INFO – THEN WE SHALL PRETTY SOON SURRENDER THE LAST REMAINING TIE – THE RELATIONSHIP
WE NEED TO USE DATA TO TRANSFORM INTO INFORMATION WHICH IMPROVES OUR ADVICE ,S ERVICE AND PRODCUTS FOR OUTR CLIENTS.

36. Conclusion Thank you !! 1. Infinitely more complex and specialised!
. The END OF THE DAYS OF THE JACK OF ALL TRADES AND MASTER OF NONE ARE UPON US
TCF REQUIRES SPECIALISED KNOWELDGE , EXPERTISE AND A TRACK RECORD
WE NEED TO BE DOING MORE FOR LESS
ADVISORS NEED TO EMRBACE AND EMPLOY TECHNOLOGY OTHERSWISE RISK BECOMING REDUNDANT – QUICKLY
WE ARE TALKING THREE TO FICVE YEARS TO REDUNDANCY – NOT A LIFETIME
FROM AN ADVISOR POINT OF VIEW – RISK AND INSURANCE IS GPOING TO BE A FUND AND EXCITING PLACE TO BE ( AND TERRIFYING AND INTIMIDATING)
THANKS FOR YOUR VALUABLE TIME – I TRUST YOU WILL BE INSPIRED BY EVEN JUST ONE THING I HAVE SAID TO MAKE A DIFFERENCE TO YOURSELF , YOUR COMPANY AND TO OUR INDUSTRY.
1. Infinitely more complex and specialised!
2. With clients demanding more for less !
3. With an abundance of technology available to help us do a better job !
4. A more dangerous place for players who are slow adapters and who cling to their glorious past !
5. A fun and exciting place to be (and a little terrifying!)
Thank you !!

37. “cave quid dicis, quando, et cui “ Beware of what you say, when, and to whom