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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
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2 Innovation in Distribution Canada United States Australia 28 years experience in North America 18 months experience in Asia My perspective is based on:
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3 My Perspective is based on: 199920042006 #19 #10 John Hancock Acquisition #4 #1 organic Manulife’s U.S. Life Insurance Business New Business
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4 My Perspective is based on: Our Strategy – Multi-channel DistributionManufacturer Channels Target Market Embrace all channels that can connect you to your customers
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5 My Perspective is based on: Manulife (U.S.) 1996 17% 83% Marketing OrganizationsIndividual Agents Manulife (U.S.) - 2006 97% 3% Marketing OrganizationsIndividual Agents Sources of Production
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6 Innovation in Distribution Strategies from North America that may lead to Innovation in Distribution in Asia
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7 Strategy 1 (Agency) Evolve from Product Providers to Planners/Advisors
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8 Strategy 2 (Agency) End of Mass Recruitment and Low Retention
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9 Strategy 3 (Agency) Emergence of Professional Sales Management
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10 Strategy 4 (Non-Agency) Specialization of roles Account ManagerWholesalersPoint-of-Sale
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11 Strategy 5 (Non-Agency) End of Exclusivity Management of shelf space
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12 Bringing Dreams to Life
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