Robert A. Cook Senior Executive Vice President and General Manager, Asia July 16, 2008 International Insurance Society 44 th Annual Seminar CEO Panel IV.

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Presentation transcript:

Robert A. Cook Senior Executive Vice President and General Manager, Asia July 16, 2008 International Insurance Society 44 th Annual Seminar CEO Panel IV Asia Experience: Product, Innovation and Distribution

2 Innovation in Distribution Canada United States Australia 28 years experience in North America 18 months experience in Asia My perspective is based on:

3 My Perspective is based on: #19 #10 John Hancock Acquisition #4 #1 organic Manulife’s U.S. Life Insurance Business New Business

4 My Perspective is based on: Our Strategy – Multi-channel DistributionManufacturer Channels Target Market Embrace all channels that can connect you to your customers

5 My Perspective is based on: Manulife (U.S.) % 83% Marketing OrganizationsIndividual Agents Manulife (U.S.) % 3% Marketing OrganizationsIndividual Agents Sources of Production

6 Innovation in Distribution Strategies from North America that may lead to Innovation in Distribution in Asia

7 Strategy 1 (Agency) Evolve from Product Providers to Planners/Advisors

8 Strategy 2 (Agency) End of Mass Recruitment and Low Retention

9 Strategy 3 (Agency) Emergence of Professional Sales Management

10 Strategy 4 (Non-Agency) Specialization of roles Account ManagerWholesalersPoint-of-Sale

11 Strategy 5 (Non-Agency) End of Exclusivity Management of shelf space

12 Bringing Dreams to Life