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Sessions
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Monday, January 26
Innovation to the Core
Insurance company leaders face growing uncertainty about enterprise risk, global warming, the impact of the credit crisis, a weakened dollar, ever increasing energy costs, a shrinking experienced workforce and a new workforce that is young and demands Green. Peter Skarzynski, co-author of the highly touted book Innovation to the Core, will tell you that to outperform your rivals you need to instill innovation to the core of your business - with measurable results. In too many organizations, innovation is more rhetoric than reality, more buzzword than core competence. This presentation aims to change that. Skarzynski will give a blueprint for building and deploying an enterprise capability for innovation. Based on real-world experience with a string of major companies, including some within the insurance industry, Skarzynski provides a practical, disciplined guide to making innovation a reality within your organization – helping you to achieve profitable, sustainable growth.
The Innovative Insurance Company
A panel of CEOs and consultants will discuss organizational innovation and how change management spawns innovation. In order to succeed, companies will need to find ways to harness the brain power of the entire organization. We will discuss the need to break down hierarchy as demographics change; what nimble insurance companies will look like structurally and how they’ll distribute their product; what are the political and product implications of structure; the organizational impact of the remote workforce; the effect of needing to focus on the “triple bottom line” - profits, people and the planet; and how to deal with much of your experienced workforce retiring within the next 10 years.
Inauguration Day and Beyond
We’ll be meeting in the first few days of the new Presidential administration and when new governors and insurance commissioners will be starting office. For a look at what the likely changes will be, we’ll turn to Tony Quinn, long-time political analyst and contributor for the Los Angeles Times.
Roundtables
Succession Planning - With projections that much of corporate senior management will be retiring in the next 10 years, succession planning has never been more important. We’ll look at how companies are preparing. The discussion will not focus just on the CEO, but also explore how to develop bench strength throughout your organization.
The Regulatory Future - Regulators are sharpening their pencils and putting companies under far more scrutiny than the usual attention to rates, forms and solvency. The impact of regulation and legislation has never been more unpredictable or more important. This roundtable discussion will focus on the impact of regulation within the realities of the market, managing the risk of regulation and fostering industry efforts to curb excessive regulation and focus on regulating for solvency and consumer protection.
Innovation in Distribution - This roundtable will tackle distribution challenges and how innovation will help successful companies compete. We’ll discuss the impact of technology; agency M&A; and growth opportunities through distribution. This session is for all types and sizes of companies using one or every type of distribution.
Measuring Success - This roundtable session will explore how measurements of success are changing. In a recent Center for Creative Leadership survey, 73 percent of leaders said that taking care of profits, people, and the planet are critical to organizational success. What do companies need to measure, what will measurements of success look like and how will you communicate success to boards, policyholders, rating companies and regulators?
Data Mining - Never have companies had access to so much data, data that can help them manage risk, better meet policyholder needs, and identify and combat fraud. But mining data is challenging. You face regulatory concerns, privacy issues and consumer fear, not to mention technology issues. This roundtable will discuss the challenge of mining data and how to turn data into knowledge that impacts the bottom line.
Tuesday, January 27
Managing the Economics of the Current Cycle – It’s Different This Time!
The current insurance cycle seems familiar, but our speaker will tell you it’s different from previous ones. Brian P. Sullivan, president of Risk Information Inc., and noted industry observer, will look at the characteristics of companies who successfully manage the cycle. He will discuss the need for a new approach through a seemingly familiar cycle, which will require different vision, leadership and execution.
What Separates Industry Winners from Industry Losers
Bests, S&P and other rating agencies are looking more closely at how companies handle the insurance cycle, which adds even more complications to maintaining a good rating. At the same time, they are expecting companies to fully integrate Enterprise Risk Management (ERM) into their organization, which means ERM is no longer just for big companies. Capital remains available but needs to be managed carefully. There’s an upturn in merger and acquisition activity, but it’s different this time, too. Your newest competitor may be from the next state – or the next continent! Our panel discusses what will distinguish the winners from the losers, and why.
Roundtables
Implications of Organizational Structure in a Soft Market – This roundtable will look at the differing impact of the current soft market and overall cycle have on a company according to its type of organization – publicly traded or privately held stock, mutual, reciprocal, risk retention group, etc.
Integrating ERM throughout Your Organization – This roundtable will dig deeper into how companies of any size need to look closer at ERM and how risk should be managed throughout your organization. Participants will share their experiences and best practices with ERM as it applies to all types and sizes of insurers.
Satisfying the Rating Agencies through the Cycle – Rating agencies are looking beyond your financials to how your company manages its way through the insurance cycle. This session will explore how to anticipate what the rating agencies will examine in their analysis and how it has changed from past cycles.
The Impact of M&A – As the frequency of mergers and acquisitions rises in the soft market, other economic conditions, such as the decline of the dollar, have brought new players into the game, especially from outside our industry, both in the U.S. and abroad. This breakout will look at the winners, the losers, and what makes a merger or acquisition successful over the long haul.
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