1. Taking the Insurance Industry to the Next Level. Transformation April 7, 2008

2. Presentation Roadmap Imperative Insight Change Management Integration Issues

3. Transformation Imperative The change taking place in the Nigerian Insurance Industry is a Transformational Change resulting from external factors centered on the decision by Government to consolidate the Financial Sector The consolidation is for efficiency in service delivery but ultimately for economic strengthening.

4. Key Insights In change situations, issues such as costs, quality and time are usually the focal point of executives Unfortunately, these are the top of the iceberg, while the root issues beneath the surface are to do with perceptions, beliefs, power and politics Intangible as these may be, they are the major causes of failure of change efforts.

5. Change Management The change management requirement for integration in the insurance industry following the consolidation will vary between organizations depending on the pattern and level on consolidation Various models of change management are available but the principle involves: –Establishment of integration issues –Development of plan to manage the issues Intangible as these may be, they are the major causes of failure of change efforts.

6. Integration Issues Typical integration issues will usually border on harmonization of: –Culture –Mission –Strategy –Leadership Naturally such harmonization may affect structure and process.

7. Thank You!

8. Member of Deloitte Touche Tohmatsu