A New World of Opportunity: the Insurance Innovation Imperative. 24 th Annual Insurance Issues Conference

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1 A New World of Opportunity: the Insurance Innovation Imperative 24 th Annual Insurance Issues Conference

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19 New technologies are reducing losses saving lives increasing customer interaction driving new business models The insurance sector is ripe for disruption kpmg.com/insuranceinnovates 2015 KPMG International Cooperative ( KPMG International ). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.

20 Innovation needs to drive growth by delighting customers who expect continuous innovation challenging current value propositions kpmg.com/insuranceinnovates 2015 KPMG International Cooperative ( KPMG International ). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.

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22 Learn to live with change innovation cannot be viewed in a vacuum strategies must be flexible to respond to disruption If somebody is going to disrupt our industry, it might as well be us John Geyer, MetLife kpmg.com/insuranceinnovates 2015 KPMG International Cooperative ( KPMG International ). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.

23 Most insurers link innovation to growth majority are concerned about new entrants and more nimble competitors How will you respond? kpmg.com/insuranceinnovates 2015 KPMG International Cooperative ( KPMG International ). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.

24 Encourage change through cultural transformation incentivize employees to prioritize success of customers not products break down internal silos monitor value of each interaction with the customer to overall customer experience kpmg.com/insuranceinnovates 2015 KPMG International Cooperative ( KPMG International ). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.

25 Apply agile and dedicated leadership two-thirds of Canadian boards discuss innovation at least once a year to drive transformational change the board and executive must actively drive the innovation agenda balance agility with desire to maintain control kpmg.com/insuranceinnovates 2015 KPMG International Cooperative ( KPMG International ). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.

26 Why are you investing? 5 out of 6 Canadian respondents had no formal way 83% of measuring return on their investment in innovation kpmg.com/insuranceinnovates 2015 KPMG International Cooperative ( KPMG International ). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.

27 Learn from others look at other industries such as airlines or retail for inspiration consider partnering to acquire new skills Those that are able to create the partnerships to develop the right products and services to meet future market demand will, ultimately, win the race Dieter Becker, Global Head of Automotive, KPMG International kpmg.com/insuranceinnovates 2015 KPMG International Cooperative ( KPMG International ). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated.

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31 Mary Trussell Gary Reader National Practice Leader, Insurance Global Head of Insurance

32 2015 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks or trademarks of KPMG International.