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Future Of Insurance - Conference Keynote Speaker
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Future Of Insurance - Conference Keynote Speaker

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Gene screening for insurance will be allowed to prevent fraud against life insurance companies. Future impact on life insurance and medical insurance premium ratings and risk weighting, targeting or ...

Gene screening for insurance will be allowed to prevent fraud against life insurance companies. Future impact on life insurance and medical insurance premium ratings and risk weighting, targeting or cherry-picking low risk insurance applicants. Discrimination based on gene test results - interpretation of gene tests, errors, misdiagnosis, predictions of future disease, medical conditions, health problems. challenge to insurerrs from private online genetic tests. Legal challenges to gene screening and government policy, industry guidelines. Over the counter gene testing kits create life insurance risks for underwriters because personal and private gene test results are not available to the insurer when assessing life insurance premiums and life expectancy.

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    Future Of Insurance - Conference Keynote Speaker Future Of Insurance - Conference Keynote Speaker Presentation Transcript

    • Dr Patrick Dixon Chairman Global Change LtdFellow, Centre for Management Development, London Business SchoolTake Hold of Your Future
    • Patrick Dixon is Chairman of Global Change Ltd, Author of15 books and has been ranked one of the 20 most influentialbusiness thinkers alive today (Thinkers 50)Future of Insurance - Keynote forAllianz (2012)500 videos of keynoteswww.youtube.com/pjvdixonover 4 million viewswww.globalchange.com14 million unique visitors
    • only sell things you believe in
    • Insurance will have a vital rolein every community – especially inemerging nations
    • ALL      BIG      RISKS      ARE      RELATED  
    • You needmore thanone strategy
    • 20
    • •EU330m moreEU1 trillion debt
    • China  33%  growth  insurance  premiums  in  2010-­‐11  
    • 26
    • Text
    • Human nerve cells growing on an integrated circuit
    • The future is aboutEMOTION
    • 35
    • 80%  lost  in  10  seconds  
    •                
    • 300 million  cities in China by 2020Real Estate over-supplyCommodity pressures
    • 4140% WDP AsiaPacific by 2015
    • EuropeDying4 couples neededto produce just onegreat-grandchild
    • Eat more – weigh less•30% of USnewborns willbecome diabetic•$100bn cost peryear
    • Older                                    Money65% health budget on those over 65
    • 66% of over 50s in Asia by 205081 million nowover 60 in India
    • Genes  tests  insurance impact…….A different kind of world
    • Can we stop ageing ?
    • Treatment which restores andmaintains the youthful elasticity ofhardened arteries, improves heartfailure – and helps wrinkled skin.
    • Grow New Teeth• Pigs teeth grownin rats• Mice grow newteeth from nervecells / gum tissue
    • Successful Heart repair•Inject bonemarrow stemcells afterbypass•Improves heartfunction
    • Monkeys on diet live longer• After 20 years - 80% alive v 50% on normal calories• Less cancer, diabetes, heart disease, strokes, brain decay53
    • Slow or no ageing is a reality• Rockfish,Turtles, someWhales• No signs ofgetting old
    • People like to belongSense of identityCommunityFamilyLife insurance isalways bought for tribeHappy to Belong
    • Every strong brand creates a tribe
    • Future Search:Why had tochange
    • 1  trillionpages  a  month
    • Would they recommendto a friend ?
    • Would YOU recommendto a friendeg penalties for loyalty ?
    • 64700,000  agents  -­‐  relaKonship  markeKng
    • 65Household, personalliability and legal expenses
    • £2.8bn in 2012 - 450 platforms -x2 / year
    • "Perfection!,Wonderful hotel. Goodvalue, beautiful views.“Telford UK, May 20, 2012This was the most beautiful hotel. Clean,friendly and good value.“Worst hotel I have ever been in. Shouldbe closed down.“ Paris April, 2012NEVER stay in this terrible place. Rats,insects, dirty. Many guests got sick.74  million  users  a  month
    • Shift from telesales to ecommerce
    • But when in trouble, he wantsa human being – not a robot!
    • Personal Financial Services in Asia$300bn growth expected: 2011- 2020
    • Distribution – FUTURE DIRECTFrom agents to banksBut trend is to go directDirect also reaches younger people
    • Brand values opportunity
    • 30% China car salesto first-time owners
    • Driverless  Cars  -­‐  safe  ?
    • 33%  in  UK  don’t  watch  live  TV
    • 95%  EU  bandwidth  soon  video
    • Some  users  in  France  >  30  gig  in  days
    • 88
    • •PayPal  -­‐  $141m  to  $4bn  from  2009-­‐11  
    • M-­‐Pesa  Kenya  -­‐  15m  people  -­‐  $9bn  paEU  60-­‐100  bn  pa  spent  processing  in  EU
    • >  200  million  mobile  payments  
    • Vodafone Mastercard SprintVamoosle
    • Free mobile devicescalls / web / TV / games / pay2010                                                  2013                                    2015                                                    Data
    • • Zettabyte = 1024 ExabytesExabyte = 1024 PetabytesPetabyte = 1024 TerabytesTerabytes = 1024 Gigabytes Thats adata explosion of 44x inData
    • • Zettabyte = 1024 ExabytesExabyte = 1024 PetabytesPetabyte = 1024 TerabytesTerabytes = 1024 Gigabytes Thats adata explosion of 44x inWhat does Datamean for selling,underwritingand fraud ?
    • • Home• Work• Online• Offline• Sales• Entertain• Phone• Mobile• Chat• Social webONECUSTOMER
    • BeyondCompliancebe ready for further rapidchanges in regulationsand business models
    • $40 Trillion Green Tech Boomdriven by oil price, cost cuts, green activism
    • Shale gas 33%US supplies200 years global supplyUp from 60 years in 5 years
    • Data accepted widelyScience of global warming might possibly turnout to be incorrect, but it is highly influential
    • 120,000 terawatts of sunlight /day7,000 times total global power usePower Moscow from Libyan Desert“40% EU power = wind by 2050”
    • 120,000 terawatts of sunlight /day7,000 times total power useQUEBEC from ARIZONA
    • Solar cell generation parity <5-10 yrs
    • 30 million acres lostEU 5% gasoline and dieselfrom food25% of 2010 US grain  fuel30% US grain burnt in cars
    • Power + Food
    • All sales based on a promisePurpose of business is to deliver onyour promiseProfit is your reward for doing soPurpose of Business
    • Truth about Retail FundsYield after charges often very lowMany fund managers unwilling to investown money in retail fundsMany in the industry say their ownproducts are not worth investing inYesterday – “50% of us sell funds offunds but only 5% of us invest in them”
    • Life Insurance: Confusing MessagesMarketing: We are here to protect your family,to pay outgenerously and quickly if something happens to you,givingyou peace of mind at a fair price.We believe in the value ofwhat we do for you.Investor Relations: Our mission is to make shareholders asmuch wealth as we can without breaking the law and landingup in prison.We raise life insurance premiums as high as wecan get away with,and pay out as little as possible.Industrialisation of community self-help
    • Every life covered, every family safe, every home securedFor individuals – protecting wealthFor family – providing for their futureFor community – or society enhancingFor the whole earth – the good of allMaking Life Better
    • Patrick Dixon is Chairman of Global Change Ltd, Author of15 books and has been ranked one of the 20 most influentialbusiness thinkers alive today (Thinkers 50)Future of Insurance - Keynote forAllianz (2012)500 videos of keynoteswww.youtube.com/pjvdixonover 4 million viewswww.globalchange.com14 million unique visitors