1. Insurance Innovation: An Oxymoron?

2. Singin’ The PL Blues MODERATOR: Karen A. Morris, Vice President, Chief Innovation Officer, Product Development, Chartis Insurance PANELISTS: Wendi Bukowitz, MBA, Founder and Managing Director, RGsquared LLC Leib Dodell, Principal, ThinkRisk Underwriting Agency, LLC Niklas Sandberg, Founder & Managing Partner, NEXUS Advisors GmbH Dr. Peter S. Temes, Founder and President, ILO Institute

3. Agenda Setting the Stage Challenges to Innovation Tools of the Trade Case Studies New, Post-Recession Challenges Q&A

4. Setting the Stage Working definition Innovation is NOT creating new products every X days Hierarchy of innovation in insurance

5. Challenges to innovation in legacy industries like insurance Risk and return of innovation hierarchy Defending the core insurance products Experience/knowledge v. vision/experimentation Political and economic risk factors inherent in radical changes Fear of FAILURE Regulatory constraints

6. “Tools of the Trade” to create an innovative environment Innovation as a strategic decision  Systematic and rigorous investment  Analysis  Execution  Follow through Insurance companies need to CHOOSE to be innovative External dynamics

7. Case Studies Creating uncontested market space Four-point analysis Impact of intermediation, disintermediation Rhetoric-Reality Gap  Leadership  Management challenges in innovation

8. New Challenges for insurance companies “Post-Recession” Risk has shifted Even greater need for innovation Possibly greater fear, as well New legal/cultural challenges/opportunities, for example:  Environmental initiatives  Technological innovation (both as insurance business tool and underwriting opportunity)  Possible new health care regulatory regime

9. Questions & Answers

10. Many thanks to … Karen Morris Wendi Bukowitz Leib Dodell Niklas Sandberg Dr. Peter Temes