Strategic Future Issues Planning Session February 13-14, 2009 Tampa, FL

Purpose Why are we having this session? Review, evaluate, and revise as appropriate the ACT strategic issues 2006 “ Mu st Do” report .

Why are we having this session?

Review, evaluate, and revise as appropriate the ACT strategic

issues 2006 “ Mu st Do” report .

Purpose What do we need to have accomplished and when are we done? Updated and/or revised Trends Document 2009 Must Do Report Short – term action plan

What do we need to have accomplished and when are we done?

Updated and/or revised Trends Document

2009 Must Do Report

Short – term action plan

Agenda http://www.slideshare.net/rickjmiv I . Welcome & Introduction Ground Rules Everyone has a chance to speak - “No Dumb Questions” One Conversation Use of Parking Boards No beeps, buzzes, or ringy-dingies Start and end on time

http://www.slideshare.net/rickjmiv

I . Welcome & Introduction

Ground Rules

Everyone has a chance to speak - “No Dumb Questions”

One Conversation

Use of Parking Boards

No beeps, buzzes, or ringy-dingies

Start and end on time

Agenda II. Review and evaluation of 2006 “ Mu st Do” report (trends) a. Relevance of current trends i. Technology ii. Business iii. Consumer & related b. Strengths and weaknesses III. New Trends a. Technology b. Business c. Consumer & related

II. Review and evaluation of 2006 “ Mu st Do” report (trends)

a. Relevance of current trends

i. Technology

ii. Business

iii. Consumer & related

b. Strengths and weaknesses

III. New Trends

a. Technology

b. Business

c. Consumer & related

Agenda IV. Review and evaluation of 2006 “ Mu st Do” items) a. Status and relevance of current Must Do items b. Define new Must Do items Identify and define priorities V. Critical success factors and barriers VI. How can we deliver our report most effectively? VII. Next Steps VIII. Review and Close

IV. Review and evaluation of 2006 “ Mu st Do” items)

a. Status and relevance of current Must Do items

b. Define new Must Do items

Identify and define priorities

V. Critical success factors and barriers

VI. How can we deliver our report most effectively?

VII. Next Steps

VIII. Review and Close

Let’s Get Started II. Review and evaluation of 2006 “ Mu st Do” report (trends) a. Relevance of current trends i. Technology ii. Business iii. Consumer & related b. Strengths and weaknesses

II. Review and evaluation of 2006 “ Mu st Do” report (trends)

a. Relevance of current trends

i. Technology

ii. Business

iii. Consumer & related

b. Strengths and weaknesses

Hard Trend - Technology COMPUTING POWER AND STORAGE Enhancements in technology will continue to provide significant increases in computing power and storage capability.

COMPUTING POWER AND STORAGE

Enhancements in technology will continue to provide significant increases in computing power and storage capability.

Hard Trend - Technology INFORMATION AVAILABILITY & ACCESS Ubiquitous availability of and access to information, regardless of location, through superior availability of broadband and wireless connectivity

INFORMATION AVAILABILITY & ACCESS

Ubiquitous availability of and access to information, regardless of location, through superior availability of broadband and wireless connectivity

Hard Trend - Technology MULTIPLE DEVICES Widespread proliferation and merging of communications devices.

MULTIPLE DEVICES

Widespread proliferation and merging of communications devices.

Hard Trend - Technology BIOMETRICS & PRODUCT/PROPERTY TRACKING Biometrics will become more common place as a way of identification and security. Chips and geospatial tracking will be used to monitor and track products and property .

BIOMETRICS & PRODUCT/PROPERTY

TRACKING

Biometrics will become more common place as a way of identification and security. Chips and geospatial tracking will be used to monitor and track products and property .

Hard Trend - Demographics BABY BOOMERS Many Baby Boomers will reach traditional retirement age, but will continue with active lifestyles and often re-engage with new work, including part-time positions, in-home businesses, or volunteer pursuits.

BABY BOOMERS

Many Baby Boomers will reach traditional retirement age, but will continue with active lifestyles and often re-engage with new work, including part-time positions, in-home businesses, or volunteer pursuits.

Hard Trend - Demographics DIVERSITY The U.S. will continue to have a more ethnically diverse population, along with many single parent and other non-traditional households. In traditional households, both spouses working will continue to be the norm, and women will increasingly hold managerial positions.

DIVERSITY

The U.S. will continue to have a more ethnically diverse population, along with many single parent and other non-traditional households. In traditional households, both spouses working will continue to be the norm, and women will increasingly hold managerial positions.

Hard Trend - Demographics NEXT GENERATIONS Generation X and Y will be in their prime child-rearing years, owning homes, and running businesses. They will have needs similar to those that their parents had at this stage of their lives. But they are likely to have some different expectations from their parents, which service providers will have to ascertain and deliver. These consumers have grown up with computers, and computers are second nature to them

NEXT GENERATIONS

Generation X and Y will be in their prime child-rearing years, owning homes, and running businesses. They will have needs similar to those that their parents had at this stage of their lives. But they are likely to have some different expectations from their parents, which service providers will have to ascertain and deliver. These consumers have grown up with computers, and computers are second nature to them

Hard Trend - Buyer Behavior TIME Time will continue to be in short supply for most consumers and businesses.

TIME

Time will continue to be in short supply for most consumers and businesses.

Hard Trend - Buyer Behavior INFORMATION Consumers and businesses will face an increasing array of choices and greater complexity. The Internet will offer access to more information relating to insurance and risk management.

INFORMATION

Consumers and businesses will face an increasing array of choices and greater complexity. The Internet will offer access to more information relating to insurance and risk management.

Hard Trend - Buyer Behavior TRUST Because of the well-publicized failure of many businesses to deliver on promises to their employees and consumers, many consumers will be skeptical of businesses that approach them. Businesses will have to earn trust in order to build customer loyalty.

TRUST

Because of the well-publicized failure of many businesses to deliver on promises to their employees and consumers, many consumers will be skeptical of businesses that approach them. Businesses will have to earn trust in order to build customer loyalty.

Hard Trend - Insurance Environment PRIVACY/SECURITY Laws and regulations will: a) Require businesses to undertake affirmative actions to safeguard customer private information and to limit its disclosure to third parties; and b) Specify what businesses must do if there is a breach in the security of customer private information.

PRIVACY/SECURITY

Laws and regulations will:

a) Require businesses to undertake affirmative actions to safeguard customer private information and to limit its disclosure to third parties; and

b) Specify what businesses must do if there is a breach in the security of customer private information.

Hard Trend - Insurance Environment EFFICIENCY/SERVICE DELIVERY Innovations by competitors will continue to drive heightened efficiency and improved service delivery in the industry.

EFFICIENCY/SERVICE DELIVERY

Innovations by competitors will continue to drive heightened efficiency and improved service delivery in the industry.

Hard Trend - Insurance Environment REGULATION/LITIGATION The basic business of insurance – personal and commercial – will continue to be highly impacted by state and federal laws and regulations, as well as by litigation.

REGULATION/LITIGATION

The basic business of insurance – personal and commercial – will continue to be highly impacted by state and federal laws and regulations, as well as by litigation.

Hard Trend - Insurance Environment CHANGING RISK The scope of risk faced by insurers in various lines of insurance will continue to change over time based on natural and man-made causes (e.g. weather, litigation, political pressure, population shifts to the coastline, etc.).

CHANGING RISK

The scope of risk faced by insurers in various lines of insurance will continue to change over time based on natural and man-made causes (e.g. weather, litigation, political pressure, population shifts to the coastline, etc.).

On To New Trends III. New Trends a. Technology b. Business c. Other

III. New Trends

a. Technology

b. Business

c. Other

Must Do IV. Review and evaluation of 2006 Mu st Do” report (Must Do items) a. Status and relevance of current Must Do items b. Define new Must Do items c. Identify and define priorities

IV. Review and evaluation of 2006 Mu st Do” report (Must Do items)

a. Status and relevance of current Must Do items

b. Define new Must Do items

c. Identify and define priorities

The five “ Mu st Do” issues Achieve a consistent industry strategy on security Create an ongoing agent-carrier workflow improvement forum Increase the presence and visibility of agency websites and maximize the customer experience they provide Continue an ongoing dialogue on future trends and their implications Move the industry’s predominant workflow to real-time and download

Achieve a consistent industry strategy on security

Create an ongoing agent-carrier workflow improvement forum

Increase the presence and visibility of agency websites and maximize the customer experience they provide

Continue an ongoing dialogue on future trends and their implications

Move the industry’s predominant workflow to real-time and download

Agenda V. Critical success factors and barriers VI. How can we deliver our report most effectively? VII. Next Steps VIII. Review and Close

V. Critical success factors and barriers

VI. How can we deliver our report most effectively?

VII. Next Steps

VIII. Review and Close