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Empoweredfor
thefuture
KPMG International
—
June, 2016
Insurance reinvented
2© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepen...
3© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepen...
4© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepen...
5© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepen...
6© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepen...
7© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepen...
8© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepen...
9© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepen...
10© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepe...
11© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepe...
12© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepe...
13© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of indepe...
kpmg.com/socialmedia kpmg.com/app
© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member fir...
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Empowered for the future: Insurance reinvented

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Empowered for the future: Insurance reinvented

  1. 1. Empoweredfor thefuture KPMG International — June, 2016 Insurance reinvented
  2. 2. 2© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential Enterprise-wide transformation is the ability to deploy change and adapt within continually evolving external environments. How are insurers doing?
  3. 3. 3© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential Insurers are in an epic race to reinvent their businesses 41%having completed at least one business transformation program in the last 2 years
  4. 4. 4© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential 63%said they are capable of designing a robust target operating model, and 60%said they are capable of driving continuous improvement in their newly-implemented model
  5. 5. 5© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential Yet, just 5%said they achieved ideal outcomes from their change programs 57%rated their outcomes not ideal
  6. 6. 6© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential More than 50%said they are not able to extract the full value from their business transformation programs
  7. 7. 7© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential 42%said the lack of necessary change management acumen is a barrier to transformation 40%admitted that their performance metrics were not optimal
  8. 8. 8© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential 37%said legacy systems slow their change initiatives
  9. 9. 9© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential Insurers remain positive with 36%looking at organizations outside the industry for new ideas, and 37%look to changing consumer demographics for inspiration
  10. 10. 10© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential 47%said mobile platforms and apps were forcing change in their businesses 40%look to cloud based solutions as both drivers and enablers of transformation
  11. 11. 11© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential 45%said social networks and crowdsourcing are creating new opportunities, while 41%see data and analytics as both a driver and enabler of change
  12. 12. 12© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential Insurers with an agile transformation framework are better equipped to plan and envision their journey Call KPMG today. Value Delivery Framework Source: KPMG International, 2016
  13. 13. 13© 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. Document Classification: KPMG Confidential kpmg.com/insurancereinvented
  14. 14. kpmg.com/socialmedia kpmg.com/app © 2016 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. The KPMG name, logo are registered trademarks or trademarks of KPMG International.

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