Dr Patrick Dixon Chairman Global Change Ltd
Insurance Trends
Take hold of your Future
Tuesday, 3 September 13
do things you really believe in
Life	
  is	
  Short	
  	
  
Tuesday, 3 September 13
Why	
  I	
  believe	
  
in	
  insurance	
  	
  
Tuesday, 3 September 13
 	
  	
  Insurance:	
  Confusing	
  Messages
Tuesday, 3 September 13
 	
  	
  Insurance:	
  Confusing	
  Messages
—Marke&ng:	
  We	
  are	
  here	
  to	
  protect	
  your	
  family,	
  to	
 ...
 	
  	
  Insurance:	
  Confusing	
  Messages
—Marke&ng:	
  We	
  are	
  here	
  to	
  protect	
  your	
  family,	
  to	
 ...
Tuesday, 3 September 13
ALL	
  	
  	
  BIG	
  	
  	
  RISKS	
  	
  	
  ARE	
  	
  	
  RELATED	
  
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
AGILITY
means
more than
one strategy
Tuesday, 3 September 13
Tuesday, 3 September 13
WGP	
  1980-­‐2013	
  (%,constant	
  prices)
Diversity	
  to	
  seize
global	
  markets
Tuesday, 3 September 13
EU	
  GDP	
  1980-­‐2013	
  
(%,constant	
  prices)	
  
Tuesday, 3 September 13
Vietnam	
  GDP	
  1985-­‐2011	
  
Tuesday, 3 September 13
>40% WDP by 2015
— IMF - adjusted for Purchasing Power Parity
Tuesday, 3 September 13
23
Tuesday, 3 September 13
Tuesday, 3 September 13
25
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
• Click	
  to	
  edit	
  Master	
  text	
  styles
Tuesday, 3 September 13
• Click	
  to	
  edit	
  Master	
  text	
  styles
Tuesday, 3 September 13
Tuesday, 3 September 13
•
Tuesday, 3 September 13
•
£ 375 bn
$2.3 trillion US + $85bn per monthTuesday, 3 September 13
China	
  33%	
  growth	
  insurance	
  
premiums	
  in	
  2010-­‐11	
  
Tuesday, 3 September 13
33
Tuesday, 3 September 13
The future is about
EMOTION
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
CONVERGENCE OR
DIVERGENCE
All innovation is about
doing things differently
to serve customers better
Tuesday, 3 September ...
Tuesday, 3 September 13
39
Tuesday, 3 September 13
80%	
  lost	
  in	
  seconds	
  
Tuesday, 3 September 13
Screens
Social
	
  
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
300 million move to cities in China and
475 million to cities in Africa by 2025
Tuesday, 3 September 13
47
40% WDP Asia
Pacific by 2015
Tuesday, 3 September 13
Europe Dying
4 couples to
produce single
great-grand
child
Stop Ageing
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
75%	
  of	
  all	
  US	
  and	
  UK	
  wealth	
  owned	
  by	
  
those	
  over	
  65	
  -­‐	
  but	
  many	
  need	
  to	
...
75%	
  of	
  all	
  US	
  and	
  UK	
  wealth	
  owned	
  by	
  
those	
  over	
  65	
  -­‐	
  but	
  many	
  need	
  to	
...
Older	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Money
65% health budget on those over 65
Tues...
Older	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Money
65% health budget on those over 65
Tues...
66% of over 50s in Asia by 2050
—81 million now
over 60 in India
Tuesday, 3 September 13
Can we stop ageing ?
Tuesday, 3 September 13
Genes à tests à insurance impact…
….A different kind of world
Tuesday, 3 September 13
Eat more – weigh less
•30% of US
newborns will
become diabetic
•$100bn cost per
year
Tuesday, 3 September 13
Treatment which restores and
maintains the youthful elasticity of
hardened arteries, improves heart
failure – and helps wr...
Grow New Teeth
• Pigs teeth grown
in rats
• Mice grow new
teeth from nerve
cells / gum tissue
Tuesday, 3 September 13
Successful Heart repair
•Inject bone
marrow stem
cells after
bypass
•Improves heart
function
Tuesday, 3 September 13
Monkeys on diet live longer
• After 20 years - 80% alive v 50% on normal calories
• Less cancer, diabetes, heart disease, ...
Slow	
  or	
  no	
  ageing	
  is	
  a	
  reality	
  in	
  animals
Impact	
  on	
  average	
  EU	
  reZrement	
  age	
  of	...
Tuesday, 3 September 13
lPeople like to belong
lSense of identity
lCommunity
lFamily
lLife insurance is
always bought for tribe
Happy to Belo...
Every strong brand creates a tribe
Tuesday, 3 September 13
1	
  trillion
pages	
  a	
  
month
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Would they recommend
to a friend ?
Tuesday, 3 September 13
Would YOU recommend
to a friend
eg penalties for loyalty ?
Tuesday, 3 September 13
70
700,000	
  agents	
  -­‐	
  relaZonship	
  markeZng
Tuesday, 3 September 13
71
Household, personal
liability and legal expenses
Tuesday, 3 September 13
"Perfection!,"  TripAdvisor Member,
Mar17, 2013 This was the most
beautiful hotel. Delightful, all perfect.We
will stay ag...
Tuesday, 3 September 13
Personal Financial Services in Asia
$300bn growth expected: 2011- 2020
Tuesday, 3 September 13
Tuesday, 3 September 13
Distribution – FUTURE DIRECT
—From agents to banks
—But trend is to go direct
—Direct also reaches younger people
Tuesd...
Tuesday, 3 September 13
Tuesday, 3 September 13
Brand values opportunity
Tuesday, 3 September 13
We are only
in first hour
of first day of
eCommerce
Tuesday, 3 September 13
e-­‐commerce	
  hit	
  
$1	
  trillion	
  in	
  2012	
  e-­‐marketer	
  
Tuesday, 3 September 13
>	
  200	
  million	
  mobile	
  payments	
  	
  
>	
  $160bn	
  
Tuesday, 3 September 13
Kenya	
  -­‐	
  17m	
  customers
$9bn	
  pa	
  -­‐	
  >33%	
  GDP
Tanzania	
  9m	
  people
35	
  naZon	
  links	
  via	
  ...
84
1.7bn	
  phone	
  
users	
  are	
  
unbanked
Tuesday, 3 September 13
Paypal	
  Mobile	
  
$141m	
  -­‐	
  $4bn	
  	
  2009-­‐11	
  
Tuesday, 3 September 13
86
2m	
  businesses	
  use	
  
SQUARE	
  
in	
  US
30	
  companies	
  like	
  Square	
  in	
  China
Tuesday, 3 September 13
• 90%	
  Microsob	
  R&D
• Azure	
  $1bn	
  revenues
• Office	
  365	
  1bn	
  revenues
-­‐	
  loyalty
-­‐	
  no	
  piraZng
...
Tuesday, 3 September 13
33%	
  in	
  UK	
  don’t	
  watch	
  live	
  TV
Tuesday, 3 September 13
70%	
  UK	
  bandwidth	
  =	
  YouTube	
  +	
  BBC	
  
Neflix	
  video	
  streams	
  =	
  25%	
  US	
  bandwidth	
  (27m	
 ...
Mobile
More than a
Channel
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Tuesday, 3 September 13
Free mobile devices
calls / web / TV / games / pay
2010	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
 ...
• Zettabyte = 1024 Exabytes
Exabyte = 1024 Petabytes
Petabyte = 1024 Terabytes
Terabytes = 1024 Gigabytes
Big
Data
Tuesday...
• Zettabyte = 1024 Exabytes
Exabyte = 1024 Petabytes
Petabyte = 1024 Terabytes
Terabytes = 1024 Gigabytes That's a
data ex...
Tuesday, 3 September 13
Tuesday, 3 September 13
Big Data means
shift from
Marketing to
Advice
Tuesday, 3 September 13
• Home
• Work
• Online
• Offline
• Sales
• Entertain
• Phone
• Mobile
• Chat
• Social web
Tuesday, 3 September 13
• Home
• Work
• Online
• Offline
• Sales
• Entertain
• Phone
• Mobile
• Chat
• Social web
ONE
CUSTOMER
Tuesday, 3 September...
Tuesday, 3 September 13
Beyond
Compliance
be ready for further rapid
changes in regulations
and business models
Tuesday, 3 September 13
$40 Trillion Green Tech Boom
driven by oil price, cost cuts, green activism
Tuesday, 3 September 13
Shale gas 33%
US supplies
200 years global supply
Up from 60 years in 5 years
Tuesday, 3 September 13
Data accepted widely
Science of global warming might possibly turn
out to be incorrect, but it is highly influential
Tuesd...
120,000 terawatts of sunlight /day
7,000 times total global power use
Power Moscow from Libyan Desert
“40% EU power = wind...
120,000 terawatts of sunlight /day
7,000 times total power use
QUEBEC from ARIZONA
Tuesday, 3 September 13
Solar cell generation parity <5-10 yrs
Tuesday, 3 September 13
—30 million acres lost
—EU 5% gasoline and diesel
from food
25% of 2010 US grain à fuel
30% US grain burnt in cars
Tues...
Power + FoodTuesday, 3 September 13
Tuesday, 3 September 13
All sales based on a promise
Purpose of business is to deliver on
your promise
Profit is your reward for doing so
Purpose ...
Truth about Retail Funds
—Yield after charges often very low
—Many fund managers unwilling to invest
own money in retail...
Every life covered, every family safe, every home secured
—For individuals – protecting wealth
—For family – providing f...
Dr Patrick Dixon Chairman Global Change Ltd
globalchange.com
4 MILLION VIDEO VIEWS
Tuesday, 3 September 13
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Future of Insurance industry - global trends, demographics, emerging markets, technology, customer service - keynote speaker

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Future insurance trends - how insurance customers are changing. Impact of mobile, online comparison sites, call-centre experience, customer relationship management, use of Big Data in underwriting and calculating risk premiums. Growth of insurance in emerging markets. Conference keynote speaker and Futurist Patrick Dixon.

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Future of Insurance industry - global trends, demographics, emerging markets, technology, customer service - keynote speaker

  1. 1. Dr Patrick Dixon Chairman Global Change Ltd Insurance Trends Take hold of your Future Tuesday, 3 September 13
  2. 2. do things you really believe in Life  is  Short     Tuesday, 3 September 13
  3. 3. Why  I  believe   in  insurance     Tuesday, 3 September 13
  4. 4.      Insurance:  Confusing  Messages Tuesday, 3 September 13
  5. 5.      Insurance:  Confusing  Messages —Marke&ng:  We  are  here  to  protect  your  family,  to   pay  out  generously  and  quickly  if  something   happens  to  you,  giving  you  peace  of  mind  at  a  fair   price.    We  believe  in  the  value  of  what  we  do  for   you. Tuesday, 3 September 13
  6. 6.      Insurance:  Confusing  Messages —Marke&ng:  We  are  here  to  protect  your  family,  to   pay  out  generously  and  quickly  if  something   happens  to  you,  giving  you  peace  of  mind  at  a  fair   price.    We  believe  in  the  value  of  what  we  do  for   you. —Investor  Rela&ons:  Our  mission  is  to  make   shareholders  as  much  wealth  as  we  can  without   breaking  the  law  and  landing  up  in  prison.  We  raise   life  insurance  premiums  as  high  as  we  can  get   away  with,  and  pay  out  as  liBle  as  possible.   Tuesday, 3 September 13
  7. 7. Tuesday, 3 September 13
  8. 8. ALL      BIG      RISKS      ARE      RELATED   Tuesday, 3 September 13
  9. 9. Tuesday, 3 September 13
  10. 10. Tuesday, 3 September 13
  11. 11. Tuesday, 3 September 13
  12. 12. Tuesday, 3 September 13
  13. 13. Tuesday, 3 September 13
  14. 14. Tuesday, 3 September 13
  15. 15. Tuesday, 3 September 13
  16. 16. Tuesday, 3 September 13
  17. 17. Tuesday, 3 September 13
  18. 18. Tuesday, 3 September 13
  19. 19. AGILITY means more than one strategy Tuesday, 3 September 13
  20. 20. Tuesday, 3 September 13
  21. 21. WGP  1980-­‐2013  (%,constant  prices) Diversity  to  seize global  markets Tuesday, 3 September 13
  22. 22. EU  GDP  1980-­‐2013   (%,constant  prices)   Tuesday, 3 September 13
  23. 23. Vietnam  GDP  1985-­‐2011   Tuesday, 3 September 13
  24. 24. >40% WDP by 2015 — IMF - adjusted for Purchasing Power Parity Tuesday, 3 September 13
  25. 25. 23 Tuesday, 3 September 13
  26. 26. Tuesday, 3 September 13
  27. 27. 25 Tuesday, 3 September 13
  28. 28. Tuesday, 3 September 13
  29. 29. Tuesday, 3 September 13
  30. 30. • Click  to  edit  Master  text  styles Tuesday, 3 September 13
  31. 31. • Click  to  edit  Master  text  styles Tuesday, 3 September 13
  32. 32. Tuesday, 3 September 13
  33. 33. • Tuesday, 3 September 13
  34. 34. • £ 375 bn $2.3 trillion US + $85bn per monthTuesday, 3 September 13
  35. 35. China  33%  growth  insurance   premiums  in  2010-­‐11   Tuesday, 3 September 13
  36. 36. 33 Tuesday, 3 September 13
  37. 37. The future is about EMOTION Tuesday, 3 September 13
  38. 38. Tuesday, 3 September 13
  39. 39. Tuesday, 3 September 13
  40. 40. CONVERGENCE OR DIVERGENCE All innovation is about doing things differently to serve customers better Tuesday, 3 September 13
  41. 41. Tuesday, 3 September 13
  42. 42. 39 Tuesday, 3 September 13
  43. 43. 80%  lost  in  seconds   Tuesday, 3 September 13
  44. 44. Screens Social   Tuesday, 3 September 13
  45. 45. Tuesday, 3 September 13
  46. 46. Tuesday, 3 September 13
  47. 47. Tuesday, 3 September 13
  48. 48. Tuesday, 3 September 13
  49. 49. 300 million move to cities in China and 475 million to cities in Africa by 2025 Tuesday, 3 September 13
  50. 50. 47 40% WDP Asia Pacific by 2015 Tuesday, 3 September 13
  51. 51. Europe Dying 4 couples to produce single great-grand child Stop Ageing Tuesday, 3 September 13
  52. 52. Tuesday, 3 September 13
  53. 53. Tuesday, 3 September 13
  54. 54. 75%  of  all  US  and  UK  wealth  owned  by   those  over  65  -­‐  but  many  need  to  work Tuesday, 3 September 13
  55. 55. 75%  of  all  US  and  UK  wealth  owned  by   those  over  65  -­‐  but  many  need  to  work Tuesday, 3 September 13
  56. 56. Older                                    Money 65% health budget on those over 65 Tuesday, 3 September 13
  57. 57. Older                                    Money 65% health budget on those over 65 Tuesday, 3 September 13
  58. 58. 66% of over 50s in Asia by 2050 —81 million now over 60 in India Tuesday, 3 September 13
  59. 59. Can we stop ageing ? Tuesday, 3 September 13
  60. 60. Genes à tests à insurance impact… ….A different kind of world Tuesday, 3 September 13
  61. 61. Eat more – weigh less •30% of US newborns will become diabetic •$100bn cost per year Tuesday, 3 September 13
  62. 62. Treatment which restores and maintains the youthful elasticity of hardened arteries, improves heart failure – and helps wrinkled skin. Tuesday, 3 September 13
  63. 63. Grow New Teeth • Pigs teeth grown in rats • Mice grow new teeth from nerve cells / gum tissue Tuesday, 3 September 13
  64. 64. Successful Heart repair •Inject bone marrow stem cells after bypass •Improves heart function Tuesday, 3 September 13
  65. 65. Monkeys on diet live longer • After 20 years - 80% alive v 50% on normal calories • Less cancer, diabetes, heart disease, strokes, brain decay 60 Tuesday, 3 September 13
  66. 66. Slow  or  no  ageing  is  a  reality  in  animals Impact  on  average  EU  reZrement  age  of  60 • Rockfish, Turtles, some Whales • No signs of getting old Tuesday, 3 September 13
  67. 67. Tuesday, 3 September 13
  68. 68. lPeople like to belong lSense of identity lCommunity lFamily lLife insurance is always bought for tribe Happy to Belong Tuesday, 3 September 13
  69. 69. Every strong brand creates a tribe Tuesday, 3 September 13
  70. 70. 1  trillion pages  a   month Tuesday, 3 September 13
  71. 71. Tuesday, 3 September 13
  72. 72. Tuesday, 3 September 13
  73. 73. Would they recommend to a friend ? Tuesday, 3 September 13
  74. 74. Would YOU recommend to a friend eg penalties for loyalty ? Tuesday, 3 September 13
  75. 75. 70 700,000  agents  -­‐  relaZonship  markeZng Tuesday, 3 September 13
  76. 76. 71 Household, personal liability and legal expenses Tuesday, 3 September 13
  77. 77. "Perfection!,"  TripAdvisor Member, Mar17, 2013 This was the most beautiful hotel. Delightful, all perfect.We will stay again v soon. "Terrible! TripAdvisor Member, Feb 10, 2013 Terrible place, rats, dirty, noisy - sick with food poisoning for 2 weeks. Nearly died. Tuesday, 3 September 13
  78. 78. Tuesday, 3 September 13
  79. 79. Personal Financial Services in Asia $300bn growth expected: 2011- 2020 Tuesday, 3 September 13
  80. 80. Tuesday, 3 September 13
  81. 81. Distribution – FUTURE DIRECT —From agents to banks —But trend is to go direct —Direct also reaches younger people Tuesday, 3 September 13
  82. 82. Tuesday, 3 September 13
  83. 83. Tuesday, 3 September 13
  84. 84. Brand values opportunity Tuesday, 3 September 13
  85. 85. We are only in first hour of first day of eCommerce Tuesday, 3 September 13
  86. 86. e-­‐commerce  hit   $1  trillion  in  2012  e-­‐marketer   Tuesday, 3 September 13
  87. 87. >  200  million  mobile  payments     >  $160bn   Tuesday, 3 September 13
  88. 88. Kenya  -­‐  17m  customers $9bn  pa  -­‐  >33%  GDP Tanzania  9m  people 35  naZon  links  via  HomeSend  Hub Tuesday, 3 September 13
  89. 89. 84 1.7bn  phone   users  are   unbanked Tuesday, 3 September 13
  90. 90. Paypal  Mobile   $141m  -­‐  $4bn    2009-­‐11   Tuesday, 3 September 13
  91. 91. 86 2m  businesses  use   SQUARE   in  US 30  companies  like  Square  in  China Tuesday, 3 September 13
  92. 92. • 90%  Microsob  R&D • Azure  $1bn  revenues • Office  365  1bn  revenues -­‐  loyalty -­‐  no  piraZng -­‐  instant  upgrades CLOUD Tuesday, 3 September 13
  93. 93. Tuesday, 3 September 13
  94. 94. 33%  in  UK  don’t  watch  live  TV Tuesday, 3 September 13
  95. 95. 70%  UK  bandwidth  =  YouTube  +  BBC   Neflix  video  streams  =  25%  US  bandwidth  (27m  users) Tuesday, 3 September 13
  96. 96. Mobile More than a Channel Tuesday, 3 September 13
  97. 97. Tuesday, 3 September 13
  98. 98. Tuesday, 3 September 13
  99. 99. Tuesday, 3 September 13
  100. 100. Tuesday, 3 September 13
  101. 101. Free mobile devices calls / web / TV / games / pay 2010                                                  2013                                    2015                                                     Data Tuesday, 3 September 13
  102. 102. • Zettabyte = 1024 Exabytes Exabyte = 1024 Petabytes Petabyte = 1024 Terabytes Terabytes = 1024 Gigabytes Big Data Tuesday, 3 September 13
  103. 103. • Zettabyte = 1024 Exabytes Exabyte = 1024 Petabytes Petabyte = 1024 Terabytes Terabytes = 1024 Gigabytes That's a data explosion of 44x in What does Data mean for selling, underwriting and fraud ? Tuesday, 3 September 13
  104. 104. Tuesday, 3 September 13
  105. 105. Tuesday, 3 September 13
  106. 106. Big Data means shift from Marketing to Advice Tuesday, 3 September 13
  107. 107. • Home • Work • Online • Offline • Sales • Entertain • Phone • Mobile • Chat • Social web Tuesday, 3 September 13
  108. 108. • Home • Work • Online • Offline • Sales • Entertain • Phone • Mobile • Chat • Social web ONE CUSTOMER Tuesday, 3 September 13
  109. 109. Tuesday, 3 September 13
  110. 110. Beyond Compliance be ready for further rapid changes in regulations and business models Tuesday, 3 September 13
  111. 111. $40 Trillion Green Tech Boom driven by oil price, cost cuts, green activism Tuesday, 3 September 13
  112. 112. Shale gas 33% US supplies 200 years global supply Up from 60 years in 5 years Tuesday, 3 September 13
  113. 113. Data accepted widely Science of global warming might possibly turn out to be incorrect, but it is highly influential Tuesday, 3 September 13
  114. 114. 120,000 terawatts of sunlight /day 7,000 times total global power use Power Moscow from Libyan Desert “40% EU power = wind by 2050” Tuesday, 3 September 13
  115. 115. 120,000 terawatts of sunlight /day 7,000 times total power use QUEBEC from ARIZONA Tuesday, 3 September 13
  116. 116. Solar cell generation parity <5-10 yrs Tuesday, 3 September 13
  117. 117. —30 million acres lost —EU 5% gasoline and diesel from food 25% of 2010 US grain à fuel 30% US grain burnt in cars Tuesday, 3 September 13
  118. 118. Power + FoodTuesday, 3 September 13
  119. 119. Tuesday, 3 September 13
  120. 120. All sales based on a promise Purpose of business is to deliver on your promise Profit is your reward for doing so Purpose of Business Tuesday, 3 September 13
  121. 121. Truth about Retail Funds —Yield after charges often very low —Many fund managers unwilling to invest own money in retail funds —Many in the industry say their own products are not worth investing in —Yesterday – “50% of us sell funds of funds but only 5% of us invest in them” Tuesday, 3 September 13
  122. 122. 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 all Making Life Better Tuesday, 3 September 13
  123. 123. Dr Patrick Dixon Chairman Global Change Ltd globalchange.com 4 MILLION VIDEO VIEWS Tuesday, 3 September 13
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