C-Level Insurance Executive Panel What s Keeping Me Up At Night? Panel Moderator: Justin Silver Duck Creek Technologies March 16, 2017
Today s Goals The goals of today s panel conversation is to give you insights into the big issues facing insurance companies that have the potential to: Grow or hamper the business Reduce or increase expenses Require new or enhanced compliance/oversight Impact the financials of the company
Agenda Panelist Introductions The Impact of Technology Markets & Opportunities Operations & Regulations Manpower & Millennials The Financial/Political Landscape Audience Questions
Panel Discussion Participants Nancy Baily Chief Operating Officer Safepoint Insurance Nancy Baily is the Chief Operating Officer of Safepoint Insurance, a property and casualty carrier based in Tampa, FL that specializes in coastal homeowners and commercial property businesses. Safepoint is licensed in Florida, Louisiana and Texas. Nancy has over 30 years of experience in Property and Casualty insurance, having started her career as an insurance adjuster for Travelers Insurance in Pennsylvania. Her claim career included a number of management roles, including Claim Service Center Manager and Field Operations Director. Nancy came to Florida in 1996 to lead the Claim Operation of First Floridian Auto and Home Insurance Company, a wholly owned Personal Lines subsidiary of Travelers. Her role at First Floridian was expanded in 1998 to include responsibility for Underwriting and Policyholder Service. In 2000, she was appointed to President and CEO of First Floridian, later re-branded as Travelers of Florida. Nancy served on the Board of Governors of FL Citizens Property Insurance Company as Vice Chair and Chair of the Claims Committee from 2011 to 2013.
Panel Discussion Participants Claire Burke Vice President, Finance and Compliance Management Dearborn National As Vice President, Finance and Compliance Management, Claire Burke oversees all of the operations for Dearborn National s Finance organization, including accounting, financial reporting, internal audit, facilities and financial systems. Ms. Burke also is responsible for the Compliance function at Dearborn National, which includes regulatory oversight, regulatory operations and privacy. In addition to her Finance and Compliance roles, Ms. Burke also serves as Chief of Staff to the CEO, which includes leading the development of the company s strategic plan, as well as facilitating its implementation and monitoring and reporting on the execution of its initiatives. Ms. Burke joined Dearborn National in 2009 as Director of Corporate Planning and Development. She has 17 years of experience in financial roles within the insurance industry. Most recently, she served as Divisional Vice President, Controller and Treasurer at Dearborn National and prior to joining Dearborn National was Director of Financial Initiatives at Health Care Service Corporation. Ms. Burke also held management roles at CareFirst Blue Cross Blue Shield. Ms. Burke earned a master s degree in accounting, a master s degree in management and a bachelor s degree in finance, all from Loyola College in Maryland. She is also a Certified Public Accountant (CPA).
Panel Discussion Participants Scott Morgan VP, Business Development & Technology, and Chief Information Officer, Dearborn National Scott establishes and executes the strategic vision for information technology throughout the Dearborn National enterprise. He also oversees business development, which includes exchanges, strategic partnerships and distribution arrangements. Scott has been with the company since 1995. During his tenure, he has served in various leadership roles, including chief of staff and vice president of operations. He has also held positions in financial analysis, risk management, corporate development, marketing and corporate communications. Scott has a bachelor's degree in mathematics and a master's degree in applied mathematics, both from DePaul University. He is a Life Management Institute Fellow, a chartered life underwriter and a chartered financial consultant..
Panel Discussion Participants J. John Wortman President Anchor Insurance John Wortman has extensive multi-line insurance operations, financial, and management experience. After graduating from Washburn University with a degree in Business, Mr. Wortman began his insurance career with Aetna Casualty and Surety Company. He rotated through underwriting, marketing, and specialty market management positions in several locations throughout the country during his fourteen (14) years with Aetna. From 1976 to 1986, Mr. Wortman was in senior management positions at CNA Insurance. These experiences included Vice President of Field Operations for both the Midwest and Eastern Regions. Additionally, Mr. Wortman had senior staff multi-line authority as the Senior Underwriting Officer for Property/Casualty and Life and Health Underwriting. Since 1986, Mr. Wortman focused on CEO responsibilities. From 1986 to 1989 he was CEO of the American Mutual group of companies; from 1989 to 1995 CEO of Michigan Mutual and the Amerisure Companies. In 1995, he joined the Anthem Companies (a $10 billion health insurer) where he was responsible for divestiture of the property/casualty subsidiary companies. Mr. Wortman started Wortman Capital Associates in 1997 and has worked with many stock and mutual insurance companies to develop consistent business and capital planning practices. From 1999 to 2007 he was President and CEO of the Fortune Financial Group. Mr. Wortman joined the Louisiana Citizens Property Insurance Corporation in 2007 as CEO until October of 2010. Mr. Wortman served on numerous boards both inside and outside of the insurance industry. He served on the National Council on Compensation Insurance (NCCI) Board and was Chairman in 1991 and 1992. He served several terms on the Insurance Services Office (ISO) Board as well as the Board of the Alliance of American Insurers and the Insurance Institute for Highway Safety. He served on the Florida Citizens Property Insurance Corporation Board of Governors from 2011 to 2016. Since February of 2016, he has been the President of Anchor Insurance located in St. Petersburg, Florida. His many outside board activities include extensive work with the Boy Scouts, many local and state-wide civic nonprofit boards, as well as several other civic and educational activities including the North Florida School of Special Education. His thoughts on capital and business planning have been published in Best Week and Best's Monthly Review.
The Impact of Technology Insurtech is everywhere in the news. What are the most compelling emerging technologies that are likely to disrupt your business?
The Impact of Technology Big Data has been one of the buzzwords of choice for several years. What data & analytics capabilities are you currently investing in or exploring? What challenges are driving you toward Big Data as a solution?
The Impact of Technology What do you look for in a solution provider when you re exploring outsourcing/technology partners?
Markets & Opportunities Insurance has historically been based on the law of large numbers; now, however, we hear more and more about niche pricing and rating. How is this affecting your company?
Markets & Opportunities Building further, formerly fringe insurance trends seem to be moving mainstream. From insurance for cannabis stores in select states to pay-by-the-mile auto insurance to rideshare insurance for Uber drivers to identity theft insurance, new opportunities abound for expansion and adoption. What other emerging insurance do you see becoming more mainstream? How do you evaluate and decide when to move forward into new product lines?
Operations & Regulations What impacts on regulation do you foresee, given the current administration and legal climate?
Operations & Regulations What external issues are having the most impact on your company and how?
Manpower & Millennials Many insurers are struggling with a lack of talent and manpower with knowledge of the industry. How are you dealing with attracting, hiring, and training people to keep your bench strong?
Manpower & Millennials What messages are you sending to the new generation of graduates to excite them about coming to work in the insurance industry?
The Financial/Political Landscape The Dow is hitting record highs but global markets continue to be concerned about the geopolitical climate as it relates to the new US administration, Brexit, and the rise of populism in Europe. How is the current financial situation impacting you and what do you foresee being the biggest risks in the coming 6-24 months?
Audience Questions
Out of Curiosity If you had only one piece of advice to give your potential & existing solution providers, what would it be?
Thank You! Time For Questions