Zurich Insurance Group Ltd · SIX:ZURN
Zurich Insurance — Zurich Financial Services — Investor Day (May 2009)
85 slides from Zurich Insurance's investor day presentation, May 27, 2009
Slide 1: General Insurance – Strategy Update
General Insurance – Strategy Update Investor’s Day Zurich, May 27, 2009
Slide 2: Disclaimer and cautionary statement
Disclaimer and cautionary statement By attending this meeting where this presentation is made you agree to be bound by the following limitiations. Certain statements in this document are forward-looking statements, including, but not limited to, statements that are predications of or indicate future
Slide 3: Group mission and strategy
Group mission and strategy Malcolm Gilbert Head of Investor Relations
Slide 4: Group mission and strategic objectives
Group mission and strategic objectives We aspire to become the Be a top-five insurer globally leading global insurance group in our chosen general Strengthen our customer focused and life insurance markets, market leadership consistently delivering top- tier results for our Expand capital light and
Slide 5: Zurich Group Strategy is grounded in four cornerstones
Zurich Group Strategy is grounded in four cornerstones Customer centricity Putting the customer at the center to drive profitable growth and guide operational transformation Profitable growth Focusing on customer, product and distribution excellence to grow in target markets, organically and through
Slide 6: Global P&C market is led by five carriers
Global P&C market is led by five carriers – Zurich (GI and Farmers) ranks second with 3.4% global market share Global P&C Market Top five global P&C Groups Global P&C Market Share1 2007 GWP = USD 1,676 billion 20082 2007 (projected) Allianz 3.9% 3.6% Zurich 3.0% 3.4% 14% (GI + Farmers) AIU 3.5% 3.2%
Slide 7: General Insurance – Introduction
General Insurance – Introduction John Amore Chief Executive Officer, General Insurance
Slide 8: Agenda
Agenda General Insurance – Introduction John Amore Global Underwriting Mike Kerner Europe General Insurance Annette Court Break North America Commercial Mike Foley Global Corporate Mario Vitale Wrap-up and Q&A May 27, 2009 General Insurance Strategy Update 8
Slide 9: Zurich GI is well positioned with a strong foothold in Europe and the Americas
Zurich GI is well positioned with a strong foothold in Europe and the Americas General Insurance Business Portfolio North America USD 14bn Europe USD 20bn Asia Pac./ME USD 1.5bn Latin America USD 1bn Southern Africa USD 0.5bn General Insurance Total GWP USD 37bn1 GWP by Channel1 GWP by Segment1 GWP
Slide 10: Zurich GI is delivering on stated strategic objectives
Zurich GI is delivering on stated strategic objectives Grow revenue organically through customer, proposition and 1 distribution excellence Target specific acquisitions to further diversify, focusing on consumer, 2 small business and key emerging markets 3 Sustain top tier performance + Position Zur
Slide 11: Zurich GI remains on track to achieve its strategic objectives over the cycle
Zurich GI remains on track to achieve its strategic objectives over the cycle Gross Written Premium Strategic objectives in USD billions 4% CAGR 2.3% 37.2 35.7 Over 5% GWP 33.9 33.4 34.2 CAGR over market cycle1 2004 2005 2006 2007 2008 BOP ROE (before tax) in Percent 31.8% 27.8% 26.0% Target >25% 25
Slide 12: Differentiated focus to unlock and grow business value
As set out in 2007, Zurich GI has applied a differentiated focus to unlock and grow business value Legend for GI BDs IB International Global Focus on volume growth1 IB1 Businesses Farmers Life EGI Europe General Insurance GC Global Corporate EGI NAC North America Commercial GC NAC Focus on margin en
Slide 13: Zurich GI has a more balanced global footprint than its peers
Zurich GI has a more balanced global footprint than its peers General Insurance 2008 GWP breakdown by region1 in USD billions 1,676 Rest of World North America 19% 60 Europe 482 42% 39 37 9% 31 38% 39% 53% Global Allianz AIU AXA Zurich GI Generali P&C market GWP from Country of 22% 53% 21% 8% 35% or
Slide 14: Diversification demonstrated in natural catastrophe loss experience
Effective diversification is demonstrated in our loss experience in natural catastrophes Major CAT impact in relation to the five year average USD millions 1'274 Whilst significant for individual businesses the fluctuations around the average loss from 762 750 556 Average natural catastrophe was CAT
Slide 15: Zurich GI drives towards global integration
Zurich GI continues to drive towards global integration, building on its governance foundation “Many ways of Standardization Integration doing the same” Time Process Configuration “Loosely “Globally “Globally Platform (IT) Connected” Consistent” Integrated” People Performance Management May 27, 2009
Slide 16: Gain competitive advantage in local markets by leveraging global scale
Zurich GI to gain competitive advantage in local markets by leveraging its global scale Process Simplification … reducing unit “on the inside” costs while Configuration increasing agility “Globally Platform (IT) Integrated” Differentiation … growing People “on the outside” revenues by focusing on cu
Slide 17: Operating model leverages global scale for local customer delivery
Zurich GI’s operating model leverages global scale for local customer delivery Group Value Added Group Functions / Global Talent Base Global Global Claims Underwriting Management The Zurich Brand Group Global Risk The Zurich Way Reinsurance EGI NAC Engineering Zurich GC Customers LA APME1 Global Spe
Slide 18: Agenda
Agenda General Insurance – Introduction John Amore Global Underwriting Mike Kerner Europe General Insurance Annette Court Break North America Commercial Mike Foley Global Corporate Mario Vitale Wrap-up and Q&A May 27, 2009 General Insurance Strategy Update 18
Slide 19: Global Underwriting – Driving Business Results
Global Underwriting – Driving Business Results Mike Kerner Global Chief Underwriting Officer, General Insurance
Slide 20: A Global Underwriting function delivers value to the business
A Global Underwriting function delivers value to the business Agenda Continuous improvement approach to TZW of Underwriting, expanding depth and breadth Develop globally integrated Underwriting Tools Drive Global Underwriting Initiatives Share Global Underwriting Insights Optimize the Global Underwr
Slide 21: A Global Underwriting function delivers value to the business
A Global Underwriting function delivers value to the business Our journey to a globally integrated Underwriting function Establish organization Establish underwriting Drive greater and governance fundamentals business value May 27, 2009 General Insurance Strategy Update 21
Slide 22: Underwriting Governance is supported by a robust pricing control landscape
Underwriting Governance is supported by a robust pricing control landscape Strategy GI Strategy Actuarial The Zurich Way Business Planning Pricing Network RBC Framework UW Incentives Target Operating Models Reserving/Profitability Process Improvements Reviews Enablers Pricing Assurance PRICING Techn
Slide 23: Continuous improvement approach to TZW Underwriting generates ongoing benefits
A continuous improvement approach to TZW Underwriting generates ongoing benefits The Zurich Way – Target of USD 2.7 billion for 2009 to 2011 USD Underwriting improvements have USD 900m historically been a big contributor to 800m TZW benefits for the Group USD Total TZW 700m Benefits continue to accr
Slide 24: Technical Price is a critical Underwriting Tool
Technical Price is a critical Underwriting Tool Technical Price is a critical Underwriting Tool that facilitates portfolio management and helps Zurich profitably grow with confidence. Technical Price is analogous to the “full cost of goods sold”, including all expenses and cost of risk based capital
Slide 25: TZW Underwriting tools focus rating action where needed most
TZW Underwriting tools are leveraged to focus rating action where it is needed most. Distribution of premium by AP/TP ratio (Portfolio View) Illustrative example Focus on achieving Focus on retention rate increases % of Accounts 100 % AP/TP Ratio AP/TP Ratio Actual price below technical price Actual
Slide 26: Launching a Global Underwriting Initiative Leading the Market
Launching a Global Underwriting Initiative “Leading the Market” 6% Rate increase needed to offset one point of interest 5% rate decline2 Interest rates (5y yields)1 4% Property 1.1% GBP Liability 3.4% 3% EUR USD Motor 0.9% 2% Workers’ CHF compensation 4.2% 1% Q4 Q1 Q2 Q3 Q4 Q1 Apr May 07 08 08 08 08
Slide 27: Leading the Market rating actions program update as of April 2009
Leading the Market – rating actions program update as of April 2009 Split of BOP impact of Lead the Program summary Market rating actions Objective: Delivery of incremental rate Percent of total increases of 2 points over and above the original 2009 planned rate change. International Markets EGI 3%
Slide 28: Leading the Market – managing the underwriting cycle through rate changes
Leading the Market – Zurich GI has successfully managed the underwriting cycle by driving needed rate changes 4% Comments 3% Since launching the Leading 2% the Market rate initiative, 1% General Insurance has generated positive rate trends Renewal rate 0% development in all Business Divisions. -1% -
Slide 29: Zurich North America rate changes better than industry average
Zurich North America rate changes were better than industry average since Q3 and were positive in Q1 5% ZNA 0% Carrier survey (Tillinghast) -5% Broker surveys (CIAB/MaketScout) -10% -15% Q1 Q1 Q1 Q1 Q1 Q1 04 05 06 07 08 09 May 27, 2009 General Insurance Strategy Update 29
Slide 30: Superior global risk selection insights from scale-enabled database
Superior global risk selection insights are obtained from our scale-enabled database Zurich has a market leading database for many lines/classes of business. For example: - 23 million exposure years modeled in last exercise for Motor. - 14 million exposure years modeled in last exercise for Homeowne
Slide 31: GI functions create business value by driving global integration
General Insurance functions create business value by driving operations toward “global integration” “Many ways of Standardization Integration doing the same” Time Process Configuration “Loosely “Globally “Globally Platform (IT) Connected” Consistent” Integrated” People Performance Management May 27,
Slide 32: Globally integrated operations to improve efficiency and the bottom line
Globally integrated operations to improve efficiency, effectiveness, the customer experience and the bottom line Global UW Program 1. U/W Global Workforce Globally integrated projects Management 2. E-File and Workflow Management Globally coordinated projects 3. Common Data Standard and KPIs 4. Exper
Slide 33: A Global Underwriting function delivers value to the business
A Global Underwriting function delivers value to the business Our journey to a globally integrated Underwriting function Establish organization Establish underwriting Drive greater and governance fundamentals business value May 27, 2009 General Insurance Strategy Update 33
Slide 34: Agenda
Agenda General Insurance – Introduction John Amore Global Underwriting Mike Kerner Europe General Insurance Annette Court Break North America Commercial Mike Foley Global Corporate Mario Vitale Wrap-up and Q&A May 27, 2009 General Insurance Strategy Update 34
Slide 35: Europe General Insurance
Europe General Insurance Annette Court Chief Executive Officer, Europe General Insurance
Slide 36: EGI – strong foundation with proven track record
EGI – strong foundation with proven track record Profitable Growth USD 8bn BOP delivered over 5 years Top 5 General Insurance player in 2008: CR 94.5%, ER 24.8% Europe Average BOP ROE of around 40% Focus on profitable organic growth and selective acquisitions Acquisitions in UK, Germany, Spain, Russ
Slide 37: EGI demonstrated strong performance since its creation
EGI demonstrated strong performance since its creation Gross Written Premium Combined Ratio in USD billions in Percent 96.6 93.8 0.6 5.2 CAGR: + 5.7% EGI + 4.5% Market1 15.3 94.5 Q1-09 13.9 92.5 93.2 91.5 91.4 GWP 12.3 12.4 12.2 USD 4.6bn CoR 2004 2005 2006 2007 2008 2004 2005 2006 2007 2008 95.7% B
Slide 38: Success built on a balanced portfolio and channels
Our success is built on a balanced port- folio and channels across businesses EGI Countries Personal / Commercial Ireland, Austria, Portugal, Morocco Russia, Turkey 11% Commercial Personal 3% UK Lines Lines Spain 26% 10% 39% 61% 15% Italy 20% 15% Germany Switzerland Lines of Business Distribution Ch
Slide 39: Well positioned to further enhance growth and profitability
Well positioned to further enhance growth and profitability position UK A market leader in commercial lines Benefit of uplift of Tailored propositions hardening commercial Developed unique customer insight and UW expertise market and support CL Zurich Connect launched to mass market shortly growth i
Slide 40: Recent acquisitions successfully integrated and re-branded
Recent acquisitions successfully integrated and re-branded Zurich Sigorta Turkey – April 2008 2008 GWP USD 121m (+20%) Next steps Finished integration 6 months ahead of Complete TZW implementation schedule Personal lines: Increased number of Further cost saving measures customers by over 15% and inc
Slide 41: Comprehensive European multi-channel approach
Comprehensive European multi-channel approach to allow flexible and easy access to our services Agents Broker Partnership Direct Strengthening the Leveraging customer Expand and leverage Grow to achieve scale distribution power segment insight global relationships efficiency Focus on segments Focus
Slide 42: Direct business strategy in Europe – the growth opportunity
Direct business strategy in Europe – the growth opportunity Motor Market Growth PL Motor - Intermediary PL Motor - Direct (est. CAGR 2008-13) Total Direct Italy 23.9 25.1 0.7% 10% 1.2 Germany 20.0 1.5 21.5 0.7% 8% GWP (USD billion) UK 11.1 7.6 18.7 1.0% 3% Spain 11.4 1.7 13.1 3.1% 14% 0.1 Switzer -l
Slide 43: EGI Direct Business well positioned to enhance market positions
EGI Direct Business well positioned to further enhance market positions Direct 2008 GWP Total: USD 1.3bn Leverage Direct Capabilities Build Zurich Scale Buy or build volume through Dedicated UK competitive price supported by organization an improved expense position Single European operating model G
Slide 44: Zurich HelpPoint – We deliver when it matters
Zurich HelpPoint – We deliver when it matters UK: Floods 2007 Italy: Earthquake Faced with 11,000 claims Zurich On April 6th 2009 a severe rapidly responded to help our earthquake hit the L’Aquila area affected customers Close to 300 people lost their lives 12,000 buildings damaged, 30% destroyed Zu
Slide 45: Operational transformation – examples of EGI initiatives
Operational transformation – examples of EGI initiatives Main Initiatives Process One EU Carrier Configuration Target Operating Model “Globally Platform (IT) Integrated” Common Platform People Shared Services Performance Management May 27, 2009 General Insurance Strategy Update 45
Slide 46: Operational Transformation – Creation of one EU GI carrier
Operational Transformation – Creation of one EU GI carrier Built for ZIP Branch Structure for Flexibility in capital efficiency and General Insurance solvency Reduced complexity and costs due to fewer legal entities and one EU regulator ZIP Progress and plans Over three years we have moved our Globa
Slide 47: EGI – track record for further profitable growth
EGI – track record for further profitable growth Profitable Growth USD 8bn BOP delivered over 5 years Average BOP ROE around 40% Acquisitions in UK, Germany, Spain, Russia and Turkey Strongly positioned for further profitable growth Customer Centricity Well balanced portfolio Four channels: Agents,
Slide 48: Agenda
Agenda General Insurance – Introduction John Amore Global Underwriting Mike Kerner Europe General Insurance Annette Court Break North America Commercial Mike Foley Global Corporate Mario Vitale Wrap-up and Q&A May 27, 2009 General Insurance Strategy Update 48
Slide 49: Agenda
Agenda General Insurance – Introduction John Amore Global Underwriting Mike Kerner Europe General Insurance Annette Court Break North America Commercial Mike Foley Global Corporate Mario Vitale Wrap-up and Q&A May 27, 2009 General Insurance Strategy Update 49
Slide 50: North America Commercial
North America Commercial Mike Foley Chief Executive Officer, North America Commercial
Slide 51: North America Commercial
North America Commercial 4th largest commercial P&C carrier in the U.S. Wide range of products (standard and specialty lines) Focused offerings for industry segments Customers that benefit from individual underwriting judgment Broad network of professionals (1,700 underwriting, 550 risk engineering,
Slide 52: NAC – strong foundation with proven track record
NAC – strong foundation with proven track record Profitable Growth Organic growth in select segments through: One-third of new business from cross-sell - Cross-sell to build deeper relationships Robust product pipeline - Industry leading propositions (6 major launches in Q1-09) - Increased share wit
Slide 53: NAC business structure
NAC business structure NAC primary focus: standard P&C and specialty lines distributed FTEs 3,000 through independent agents and brokers Commercial Integrated Programs and Specialties Markets Products Direct Markets Customer focus – Product focus – Customer focus – Program targeted industry specialt
Slide 54: NAC broad offering across lines of business and industry segments
NAC has a broad offering across both lines of business and industry segments GWP by Line of Business GWP by Industry Other Other Construction Accident & Health 11% Liability 14% 3% 24% Surety 25% 5% Financial Services 13% Prof. 10% Liability Energy 3% 13% 19% 13% 9% Property Consumer Auto- Auto 14%
Slide 55: NAC – three consecutive years with underwriting profit, BOP > USD 1bn
NAC – three consecutive years with an underwriting profit, and BOP > USD 1bn Gross Written Premium Combined Ratio in USD billions in Percent CAT 121.9 12.1 CoR excl. CAT 11.9 5.9 11.7 11.5 11.2 105.3 6.5 95.6 94.5 97.4 Q1 2009 116.0 2.1 CAGR: -1.9% NAC 0.9 GWP + 0.7% Market 98.8 94.7 94.5 95.3 USD 2
Slide 56: NAC strengthens foundation of underwriting technical discipline
NAC continues to strengthen its foundation of underwriting technical discipline 2002 – 2003 2004 – 2007 2008 – Built the foundation Strengthened the Driving for excellence foundation – TZW Closed file reviews TZW file reviews TZW file reviews - Calibrated, expert - Re/baseline leakage - Focus on are
Slide 57: NAC reduced CAT accumulation while increasing price per unit of exposure
NAC has reduced CAT accumulation while increasing price per unit of exposure NAC probable maximum loss (PML) from 1-in-250-year US windstorm in USD billions -55% 1.9 1.8 55% PML reduction Premium 1.2 per unit 0.9 of 0.8 exposure more than doubled June Dec Dec Dec Dec 2005 2005 2006 2007 2008 Premium
Slide 58: NAC achieves rate changes above industry benchmarks
NAC continues to achieve rate changes above industry benchmarks… Rate change 5% NAC 0% Carrier survey (Tillinghast) -5% Broker surveys (CIAB/ Market Scout) -10% -15% Q1 Q1 Q1 Q1 Q1 Q1 04 05 06 07 08 09 May 27, 2009 General Insurance Strategy Update 58
Slide 59: Differentiated approach targets accounts with greatest rate need
…a differentiated approach targets accounts with the greatest rate need Distribution of premium by rate change – BU example Percent of renewal GWP >10% 9% 20% 0 to 10% 24% 48% -10 to 0% 39% 26% <-10% 28% 6% Q1-08 Q1-09 Total rate change -5.8% 1.0% May 27, 2009 General Insurance Strategy Update 59
Slide 60: Selective growth using granular portfolio management
We pursue growth selectively, using a granular portfolio management approach Hurdle Business segment rate growth intent Higher Grow Maintain Margin on Premium Opportunistic Size of bubble indicates GWP Lower Lower Higher RBRM May 27, 2009 General Insurance Strategy Update 60
Slide 61: Growth in targeted segments while re-shaping the portfolio
We have delivered growth in targeted segments while re-shaping the portfolio GWP growth by segment in USD billions CAGR 12.1 11.2 -1.9% Core book (maintain/grow 9.1 Returns on core segments) 1.5% book 2.5x higher 9.7 than shrink/exit segments Segments targeted for shrinking/exiting 3.0 1.5 -14.8% 20
Slide 62: Four levers to drive profitable growth
Four levers to drive profitable growth Growth levers Performance objectives Proposition Development Develop and launch market-leading propositions One-third of products new/ based on unique customer insights refreshed every 3 years Product Density Increase number of multi-line relationships – One-th
Slide 63: Revamped development process has created a strong new product pipeline
A revamped development process has created a strong new product pipeline Concepts Development Launch In market Select Security & D&O Select® Real Estate examples Privacy InfraSolutionsTM (REsolution) Manufacturing Z Link Healthcare Z Choice Technology May 27, 2009 General Insurance Strategy Update 6
Slide 64: Transforming our underwriting operating model
Transforming our underwriting operating model Elements of NAC target underwriting operating model “At scale” submission intake and service centers Specialist, market facing Process underwriters in field offices near customers and brokers Enhanced underwriting tool set Configuration - Standardized, e
Slide 65: NAC is well positioned to win in the marketplace
NAC is well positioned to win in the marketplace Profitable Growth One-third of new business from cross-sell Robust new product pipeline Market of choice for key brokers Clear strategy and initiatives Real marketplace opportunity Customer Centricity Foundation of Claims customer satisfaction of 89%
Slide 66: Agenda
Agenda General Insurance – Introduction John Amore Global Underwriting Mike Kerner Europe General Insurance Annette Court Break North America Commercial Mike Foley Global Corporate Mario Vitale Wrap-up and Q&A May 27, 2009 General Insurance Strategy Update 66
Slide 67: Global Corporate
Global Corporate Mario Vitale Chief Executive Officer, Global Corporate
Slide 68: Global Corporate
Global Corporate Second largest corporate business insurer worldwide with a 2008 GWP of USD 7.9 billion with strong presence on both sides of the Atlantic Provider of insurance and risk management solutions for the majority of Global Fortune 100 companies Broad portfolio of products and capabilities
Slide 69: Global Corporate – strong foundation with proven track record
Global Corporate – strong foundation with proven track record Profitable Growth Shift to margin focus, targeting Increasing UW discipline (CAT management) differentiated growth Leading the Market with focused portfolio Deliver on ROE targets and deliver actions profitable growth throughout the cycle
Slide 70: GC operates in 3 main regions with a diversified book
GC operates in 3 main regions with a well diversified book across LoBs and industries Global Corporate Business Portfolio Market position 2 1 GCiE 56% of total GWP GCiNA (incl. Canada) 41% of total GWP GCiAP 3% of total GWP Global Corporate Total GWP USD 7.9bn GWP by Line of Business1 GWP by Channel
Slide 71: GC good underlying performance, volatility driven by CATs
GC good underlying performance, volatility driven by CATs – well positioned for market upturn Gross WrittenPremium Gross Written Premium Combined Ratio Combined Ratio In USD billions In Percent in USD billions in Percent CAT 112.4 109.2 CAGR (USD): + 3.7% CoR excl. CAT 7.5 CAGR (loc. curr.): +0.1% 1
Slide 72: GC current focus is margin enhancement while ensuring profitable growth
GC current focus is margin enhancement while ensuring profitable growth “Leading the Market” Program – Rating actions Technical Price certification & AP/TP Ratio Management Continue Technical Price Certification Review Technical Price and Walk-away rates Eliminate leakage UW Target Operating Models
Slide 73: Impact of rating actions – a benchmark to the industry
Impact of rating actions – a benchmark to the industry Rate change – GCiNA example 15% 10% GCiNA3 5% 0% -5% MarketScout1 Jumbo Accounts -10% CIAB2 Large Accounts -15% -20% Q1 Q1 Q1 Q1 Q1 Q1 04 05 06 07 08 09 1 MarketScout - rate changes are based on jumbo accounts 2 CIAB (Council of Insurance Agents
Slide 74: Leading the market requires a differentiated approach – example
Leading the market requires a differentiated approach – example GCiNA Property example – Q1-09 Retention Rate Change in Percent in Percent 88 16 79 79 58 9 8 § 5 Bottom 25% Mid 25% Top 50% Overall Bottom 25% Mid 25% Top 50% Overall Through a disciplined approach to Underwriting, GC is trading volume
Slide 75: International Program Business - a growth opportunity
International Program Business - a growth opportunity in North America and Asia Gross Written Premium Zurich owned operations in USD millions 2'331 Partners 2'118 2'196 1 2'052 No presence 1'875 GCiE Market Share 30% GCiNA Market Share <5% 2004 2005 2006 2007 2008 Number of Programs GCiAP 3'193 Mark
Slide 76: GC has a differentiated way to serve global customers
Because global customers have different needs, GC has a differentiated way to serve them Go-to-Market is our ongoing strategy to ensure GC’s profitability through a customer centric approach… Customer segmentation Customer relevance Customer experience Relationship experience KEY: Relationship model
Slide 77: Our relationship model brings significant benefits
Our relationship model brings significant benefits New business Is more effective in adding new business 56% of all new business and increasing New business as % baseline 2.6pts higher in Relationship segment Product density Drives higher product density Cross selling leads to average product densit
Slide 78: Our Risk Engineering expertise
Our Risk Engineering expertise… …provides ..is a key competitive differentiator for advantage our customers Some of the examples are: Is a key customer Contributing to profitable HelpPoint, 1000 risk Enterprise Risk Management growth professionals analysis tool Driving claims reduction Has effective
Slide 79: Our Global Claims Network ensures superior local delivery
Our Global Claims Network ensures a global network and a local superior delivery Three cornerstones to claims value proposition for corporate customers: Global presence/local Global Reach – through our broad knowledge geographic footprint, we are serving our Claims capabilities in over 180 customers
Slide 80: Zurich MIP turning complexity into clarity
A success story on customer centricity: Zurich MIP turning complexity into clarity Zurich has developed a global solution to resolve many of the uncertainties related to cross-border insurance facing our industry today. Zurich Multinational Insurance Proposition (MIP) ensures that the out-of-territo
Slide 81: Operational transformation – comprehensive program to deliver our vision
Operational transformation – a comprehensive transformation program to deliver our vision Main initiatives Process Scalable IT Configuration platform - Workstation “Globally Platform (IT) UW TOM Integrated” People Technical Price Certification Performance Management Leveraging capabilities across th
Slide 82: Global Corporate – set to address market challenges and capture opportunities
Global Corporate – well set to both address market challenges and capture opportunities Profitable Growth Increasing UW discipline (CAT management) Leading the Market with focused portfolio actions Targeting IPB as a growth opportunity Positioned for market share leadership Customer Centricity Focus
Slide 83: Agenda
Agenda General Insurance – Introduction John Amore Global Underwriting Mike Kerner Europe General Insurance Annette Court Break North America Commercial Mike Foley Global Corporate Mario Vitale Wrap-up and Q&A May 27, 2009 General Insurance Strategy Update 83
Slide 84: General Insurance – Wrap up
General Insurance – Wrap up John Amore Chief Executive Officer, General Insurance
Slide 85: Q&A
@ ZURICH Q&A Zurich HelpPoint -