Cindy Forbes - globaltaxevent.com · InsureTech More customers ... Case Study . We operate as John Hancock in the United States and Manulife in other parts of the world. Thank you.

Cindy Forbes Executive Vice President & Chief Analytics Officer

Manulife operates globally and offers suite of financial products and solutions

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13 markets including Canada, USA, Hong Kong, China, Japan

930B+ assets under management globally

4th largest life insurer in North America

22M+ customers globally on a wide-set of products

Our strategy focuses on being customer-centric and providing holistic advice to our customers

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We are the market pioneers in underwriting HIV positive individuals without fluids

Develop meaningful relationships by directly

engaging with our customers

Create simpler and needs-based customer experience

We are revolutionizing the way we engage our customers

through Wellness

We simplified claims process with WeChat

in China

Equip our advisors with digital tools to meet

customer needs

We are providing our advisors with electronic Point-of-Sale (ePOS) tools to meet holistic

customer needs

1st in Canada

2nd in US

China, Hong Kong, Japan

Real-time underwriting decision

Integrated toolset to

deliver seamless experience

Electronic payment

via debit & credit card

The financial services industry faces more challenges than ever before

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Digital (R)evolution Regulatory pressures

Increased Competition Emergence of FinTech/ InsureTech

More customers willing to purchase

financial products digitally

Mobile, messaging platforms becoming

key engagement vehicle

Ongoing changes to capital requirements for

Life Insurance companies

Regulations such as DoL ruling accelerating

fee pressures across wealth management

Increasing costs of risk management and

compliance

Non-traditional partnerships being forged

between FIs and e-commerce, telecom,

tech companies

Tapping into synergies to scale-up

customer acquisition

Start-ups leveraging digital technology and

agile approaches to innovate and enhance

customer experience

We see this as an opportunity and Analytics is fundamental to achieving our strategic ambitions

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Grow our businesses

Reduce our expense base

How we drive value

Digital advice

Modernized underwriting

Lead generation

Banca- assurance

Claims Fraud detection Claims intervention

Acquiring customer

Generating revenue

Retaining customers

Innovating new products

Enhancing customer experience

Driving operational efficiency

Analytics will be applied across the value-chain in,

Our Advanced Analytics teams are organized in a hub-and-spoke model, supporting local and global needs

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Investment

Canada

US

Singapore

Philippines

Group

Function

(Chief Analytics

Officer)

Hong

Kong

Japan

China

Indonesia

Asia

We are focused on several priority initiatives to realize our strategic ambitions

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Charting our value creation

roadmap

Evolving our data

governance and platforms

Attracting and developing

top analytics talent

Enabling analytics across

the organization

Clear set of priorities for where analytics can drive value

Consistency in value measurement

Common platform and ‘data labs’ for analytic exploration

Load data on platforms based on value creation potential

Value proposition as top analytic talent employer

Social media presence and campus recruitment programs

‘Community of Practice’ enabling global collaboration

Explore partnerships to gain access to unique data sources

The newly created ‘Chief Analytics Officer’ role has high visibility with Executive Committee and Board of Directors

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Chief Analytics Officer hired

External benchmarking

exercise

Updated Executive

Committee on strategy

Identified suite of analytic

solutions across businesses

Updated Board on progress

Key milestones in 2016

Q1 Q1-Q2 May Q2-Q3 October

Proactively engaging customers

Developed predictive model

Leveraged multiple customer data sources

Opportunity to proactively engage customers based on their pain points

Mortgage holder transaction data Customer demographic data

Identified list of mortgage holders that are likely to attrite Drivers include high interest rate variance vs. market,

low customer tenure

In Canada, we are leveraging data-driven insights to retain our mortgage customers

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Case Study

Proactively engaging customers in simplified process

Developed analytics model to enable personalized experience

Leveraged applicant data and third-party data

Provide non-invasive underwriting path guided by teleinterviews Applicant receives decision in 3-5 days

Applicant data: Personal information, demographic data Third party data: Health history from Medical Information

Bureau, prescription drug history, prior DUI records

In Canada, we are leveraging data-driven insights to retain our mortgage customers

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Case Study

Technology-enabled, medically-justified analytics model

Proactively engaging the ‘right’ prospects

Developed analytics model to target high-quality leads

Leveraged applicant data and partner data

Leads sent to exclusive Banca partners: (e.g., sales channel, segment managers)

Internal data: Policy data, CRM data External data from Banca partners: Transaction,

demographic, and product data

Identified meaningful customer “moments” by leveraging rich transactional and behavioral data

Generate high quality leads and grow sales

In Canada, we are leveraging data-driven insights to retain our mortgage customers

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Case Study

We operate as John Hancock in the United States and Manulife in other parts of the world.

Thank you. Questions?

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