1. Putting people skills and cultural change at
the heart of digital transformation of the
insurance industry
6th May 2020

2. 2
Disclaimer
Presentations are intended for educational purposes only and do not
replace independent professional judgment. Statements of facts and
opinions expressed are those of the participants individually and,
unless expressly stated otherwise, are neither the opinion nor
position of The Digital Insurer. The Digital Insurer do not endorse or
approve, and assume no responsibility for, the content, accuracy or
completeness of the information presented.

3. 3
Today’s Panellists

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Discussion Agenda
1. Presentations
• Simon Phipps, Founder TDI
• Sara Roberts, Founder, Kettlewell Consulting
• Debbie Mannas, Head of Organization Development and Talent, Sun Life Asia
• Malini Nagaria, Programme Director, TDI Academy
2. Q&A / Panel Discussion
3. TDI updates
TDI Academy – learning for the digital age
60 minutes

5. 5
How to participate
How to participate:
If you have a question please type into the Q&A area
If you have a comment please type into the chat area
Session format:
The moderator will use a combination of their own questions and those
from the audience
TDI Academy – learning for the digital age

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Simon Phipps
Founder, The Digital Insurer
TDI Academy – learning for the digital age
WARNING
World is approaching Digital Tipping Point
…and most insurers aren’t ready

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TDI POV: Industry Warning – digital
tipping point is approaching insurers
faster than expected
Executive teams must urgently
accelerate their transformation efforts
TDI Academy. Learning for the digital age. 7

8. 8
Consumer adoption of digital is accelerating
Source: TDI estimates
New Users
Groups
• Elderly
• Children
• Rich
• Poor
• Emerging mkts
Wider usage
• Remote working
• Remote purchasing
• Remote servicing
• Social & comm’s
• Non-tech firms
Equally customer and employee expectations on the companies
they choose to ‘invest’ in, are on the rise
TDI Academy. Learning for the digital age. 8
“TIPPING POINT”
Early AdoptersInnovators
Consumer
Expectations 2020 pre-crisis
2020/21 post-crisis
Crisisacceleratesconsumers
expectationsupthecurve
LaggardsLate MajorityEarly Majority

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Most insurers will lose 18 – 24 months
…off roadmaps if they want to keep up
Source: TDI estimates
Widening Gap likely for most
Insurers
• Already laggards
• Focus on ‘keeping the lights on’
• Curtailment of ‘discretionary spend’
• Failure to re-set strategically
• All resulting in increased
vulnerability to competitors and new
entrants
Consumer TP was expected 2022
Consumer TP now expected 2020
Insurers need to accelerate digital plans by 2 years to simply “stay still”
TDI Academy. Learning for the digital age.
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“TIPPING POINT”
LaggardsLate MajorityEarly MajorityEarly AdoptersInnovators
2020/21
post-crisis
Remains static pre & post crisis
with tactical focus
Insurer
Readiness
WideningGap
2020 pre-crisis
Consumer
Expectations

10. 10
Source: TDI estimates
TDI Academy. Learning for the digital age.
10
LAURA HAYES, GLOBAL HEAD OF
INSURANCE, KPMG
Most insurers will lose 18 – 24 months
…off roadmaps if they want to keep up

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Microsoft Agrees with The Digital Insurer!
Source: TDI estimates
TDI Academy. Learning for the digital age.
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Source: https://www.ft.com/ 30 April 2020

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Little choice but to change.. and change fast
Source: TDI estimates
TDI Academy. Learning for the digital age.
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13
Question
SO WHAT CAN AND SHOULD INSURERS DO?
Answer
ACCCELERATE DIGITAL ENGAGEMENT & CULTURAL
TRANSFORMATION

14. 14TDI Academy. Learning for the digital age. 14
Accelerate Digital Engagement & Cultural Transformation
Digital skills gaps are a growing problem

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Accelerate Digital Engagement & Cultural Transformation
There is compelling evidence that focusing on culture is the key to success
Source: TDI estimates
TDI Academy. Learning for the digital age.
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Accelerate Digital Engagement & Cultural Transformation
…and People are at the heart of cultural transformation
Source: TDI estimates
TDI Academy. Learning for the digital age.
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Employees in Hong Kong, across Asia and
around the world are crying out for more
engagement in Digital…
Transformation Factor Factor
Multiple*
Management team established clear change story for
transformation P
3.1x
Digital Tools were implemented to make transformation more
accessible across organization
2.1x
Digital self-serve technology was implemented for employees; and/
or business partners’ use
2.0x
Senior managers fostered sense of urgency for making
transformation changes P
1.9x
People engaged in key roles ensured collaboration between units
on transformation initiatives P
1.8x
Standard operating procedures were modified to include new
digital technologies
1.8x
Senior leaders encouraged people to experiment with new ideas P 1.7x
People engaged in key roles encouraged employees to challenged
old ways of working P
1.7x
People engaged in key roles were more involved in developing
initiatives than during past change efforts P
1.6x
Senior management ensured collaboration between units on
transformation initiatives P
1.6X
Source: McKinsey
5.9%
5.9%

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Moving digital from the Few …..to the Many
Only by accelerated engagement in Digital from ‘the few to the many’
will organisations achieve wide-scale transformational change
Virtually no impact on people & culture Significant impact on people &
culture
SPECIALIST TEAMS: digital, tech, innovation, strategy, investment BUSINESS TEAMS: admin/ops/risk, claims & UW, S&M, pricing &
ProdDev
TDI Academy. Learning for the digital age. 17
Accelerate Digital Engagement & Cultural Transformation
So digital engagement needs to move from the few, to the many

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Digital Insurance Perspectives
TDI Academy – learning for the digital age
Sara Roberts
Founder, Kettlewell Consulting

19. Putting people skills and
cultural change at the heart of
digital transformation of the
insurance industry:
learning as a key enabler

20. BCG’s Digital Fitness Model in Insurance - What and How: 5 Pillars, 22 Key Capabilities
WHAT
The digital revolution is having an immediate and wide-
ranging impact on how insurers do business.
Consumers want faster service across a range of
platforms, and they want products that are tailored to
their individual needs and preferences.
To keep up with those demands, insurers need to
embrace a forward-looking, customer-centric business
model that provides customers with anytime,
anywhere access to services.
Digital Fitness Model in Insurance: © 2020 Boston Consulting Group
HOW
EMPLOYEE CULTURE
• Cross-functional collaboration
• Decentralized decision-making
• Test, learn, and share culture
• Steering of a flexible organization
CUSTOMER CENTRICITY
• Digital marketing
• Intuitive, on-the-go access
• Channel consistency
• Customer profiling
• Personalized offerings and pricing
INNOVATION
• Effective innovation process
• Innovation partnerships
• Customer cocreation
• Fully integrated digital services
IT
• Real-time insight from rich,
dynamic data
• Dynamic plug-and-play sourcing
• Flexible infrastructure and
architecture
• Third-party integration
• Digital security and privacy
• OPERATIONAL EXCELLENCE
• Process orchestration
• Straight-through processing
• Operational performance
monitoring
• Componentized product model

21. People skills and cultural change at the heart of digital transformation of the insurance industry:
learning as a key enabler
The“fitness” challenge from the APAC CEO:-
• Sustainable Growth.
• Accelerated digital transformation.
• Workforce of the future.
Our deliverable – “My Career”
• Digital learning platform and curated content:
• Putting all employees (62,000+ across APAC, all
business/functions) in the driving seat of their own
learning and careers. (culture change).
• Leveraged the existing collaborative platform:
• Curated relevant employee centric learning paths.
• Integrated learning into work.
• Shared career stories - aspirational.
• Linked employees to internal opportunities - career
marketplace.
• Engaged middle managers.
• Relentlessly told the story - comms, comms, comms.
Copyright © Deloitte Development LLC. All rights reserved. Member of
Deloitte Touche Tohmatsu Limited

22. People skills and cultural change at the heart of digital transformation of
the insurance industry: learning as a key enabler
Key Outcomes
• Culture shift: employee centric, curated content and
employee curated experiences (Design Thinking in action).
• Acceleration of DQ and Digital transformation
(learning in the flow of work): APAC gamification
tools; Citi Lean and Digital Discovery; Workplace of The
Future; Fintech Festival; Campus Campaigns.
• Hidden Benefits:
• Employee Engagement YoY 2%ppt increase (employee
survey); 9.7 “My Career” hits per unique site user.
• Career Mobility: 21% increase in career mobility.
• Hiring: 17% increase in internal applications; 8%
increase in internal hires, enhanced Campus Branding.
• Retention: 1.5% improvement in retention.
Key Insights
Getting fit: winning the
Learning RAC&E
Relevance
Accessibility
Collaboration & Engagement

23. Getting Fit For The Future
Snap Poll Question 1 – Fitness Test
How “fit” is your company to build new skills
required for digital transformation in the
Insurance sector?
a) Fitness challenged - have the will but don’t
have the plan….yet.
b) Moderate fitness – know what we have to
do and making progress.
c) Super fit – ready for the sprints (including
hurdles)!

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TDI Academy – learning for the digital age
Debbie Mannas
Head of Organization Development and Talent, Sun Life Asia

25. Life’s brighter under the sun
Sun Life
Putting people skills and cultural change at the heart of
digital transformation
6 May 2020

26. S U N L I F E •
Sun Life: Client Obsessed
D I G I T A L E N T E R P R I S E - A D V A N C I N G C A P A B I L I T I E S 26
• Headquartered in Toronto, Canada
• More than 150 years of financial services experience
• One of the largest insurance and financial services companies in North America
• Close to 30K employees in over 26 countries
• Over 110K advisors
• 8 countries in Asia: Philippines, Hong Kong, Indonesia, Malaysia, Singapore, Vietnam, JVs in
India and China.
• Offer a diverse range of insurance protection and wealth products and services to individuals
and corporate customers

27. OUR PURPOSE
To help our CLIENTS achieve lifetime financial
security and live healthier lives
We also want this for our PEOPLE

28. S U N L I F E •
Building Capability for the Digital Enterprise
D I G I T A L E N T E R P R I S E - A D V A N C I N G C A P A B I L I T I E S 28
• Culture
• Capability
• Capacity

29. S U N L I F E •
Putting Employees at the Centre
D I G I T A L E N T E R P R I S E - A D V A N C I N G C A P A B I L I T I E S 29
Perspectives:
• Sharing the vision: OneSunLife
• Learning journeys by employee personas
• Seeking and giving feedback
Positivity
• Tolerating failure, taking chances
• Enabling the teams, re-skilling, upskilling, creating opportunities
• Recognizing incremental improvements/building champions
Performance
• Clarity and communication around expectations
• Fairness and Consequences (positive and negative)
• Flexing management style for traditional and agile teams

30. S U N L I F E •
Some examples…
D I G I T A L E N T E R P R I S E - A D V A N C I N G C A P A B I L I T I E S 30
• Designing learning journeys for different employee personas
• Embedding feedback loops
• Reinventing performance management
• Internal Opportunity Marketplace to launch “ gigs” beyond the traditional “ Jobs
• Succession planning approach changing from “ role based” to “ pool based”
• Automation and AI to enhance the employee/ candidate experience (eg: TA tools such as AI
resume screening tool)

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Malini Nagaria
Programme Director, TDI Academy
TDI Academy – learning for the digital age

32. 32TDI Academy – learning for the digital age
Moving from the few
to the manyNOW ASAP
Specialist teams engaged in digital Business teams engaged in
digital
• Administration / ops
• Claims
• Distribution
• Sales
• Marketing
• Pricing & Product Devt
• Risk Assessment
• Underwriting
• Digital
• Technology
• Innovation
• Partnerships
• M&A
• CVCs
SPECIALIST TEAMS BUSINESS TEAMS
CEOs want to broaden digital transformation to
include as many people as possible

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Certificate in Digital Insurance (CDI)
Online certificate
Associate Digital Insure (ADI)
“mini-MBA” and business qualification
Knowledge Portal & Community (Essentials)
Opportunities for all to participate in digital insurance via the TDI Corporate membership
Executive Digital Insurer
(EDI)
Learning & coaching for
leadership teams
“Ensuring the right level of
digital insurance learning is
provided to the right people
at the right time, at the right
cost and in the right way”
Introducing TDI Academy – L&D on digital insurance
TDI Academy website: https://www.the-digital-insurer.com/tdi-academy/

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TDI Academy - modern design principles
FOCUSED
Micro. Chunking.
INTEGRATED
Platform. Usage.
O2O
Coaches. Clinics.
CONVENIENT
Anytime. Anywhere.
ACTIVE
Blended. Challenging.
UP-TO-DATE
Dynamic. SMEs.
ASPIRATIONAL
Cert. Badging.
SCALABLE
Numbers. Markets.
ROI
Individual. Corporate.
COLLABORATIVE
Communities. Partners.
CONTINUOUS
Accreditation. Personal.
CUSTOMISABLE
Personal. Corporate.
FUN!
Differentiated. Experiential.
TDI Academy – learning for the digital age
McKinsey @ Davos 2020: “Corporations are becoming educators and making a commitment to lifelong learning”
Source : https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/digital-blog/reflections-on-technology-from-davos-2020

35. 35TDI Academy – learning for the digital age
ADI Intro
ADIASSOCIAT
E
Digital
insurer
2020
https://the-digital-
insurer.wistia.com/medias/sfpp42ai2e

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ADI overview
TDI Academy – learning for the digital age

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ADI Programme – course lessons
1.1 The 4th Industrial Revolution
1.2 Our connected world
1.3 The power of Social
1.4 Changing consumer behaviour
1.5 More change coming
1.6 Why data is King
1.7 Cloud crushes costs
1.8 Insurance Re-Booted
2.1 Cloud
2.2 RPA, Machine Learning & AI
2.3 Blockchain
2.4 IoT
2.5 Chat & Voice
2.6 Immersive Technologies
2.7 APIs & Microservices
2.8 Tech Architecture best practices
4.1 Sales tools for agents
4.2 Underwriting – Life & Health
4.3 Underwriting – P&C
4.4 Product Development
4.5 Service & Administration
4.6 Claims – Life & Health
4.7 Claims – P&C
4.8 implementing value chain
innovations
5.1 Platforms & Ecosystems
5.2 Microinsurance
5.3 On-demand & connected
insurance
5.4 Comparison Sites
5.5 Peer-to-Peer
5.6 Health & Wellness
5.7 Commercial
5.8 Building new digital business
models
6.1 Data led marketing
6.2 Direct digital marketing
6.3 digital marketing for advisors
(o2O)
6.4 Power of content
6.5 Omni sales & servicing
6.6 Customer lifetime value &
customer advocacy
6.7 UX & CX
6.8 Out-of-industry use cases
7.1 Why Strategy beats execution
7.2 Regulations and ethics in a digital world
7.3 Transforming the old vs building the new
7.4. Partnership, Investing and Acquisition strategies in a digital world
7.5 AGILE & LEAN basics
7.6 Change Management as a discipline
7.7 Cultural change for a digital world - Digital as DNA
7.8 How to succeed when most transformations fail
3.1 The Power of Data
3.2 Python basics
3.3 Python intermediate
3.4 Data visualization & example
tools
3.5 Machine learning (+ a little bit of
deep learning)
3.6 D&A use cases in P&C
3.7 D&A use cases in Life & Health
3.8 Predictive Modelling
TDI Academy – learning for the digital age

38. 38TDI Academy – learning for the digital age
ADI & CDI compared
Personal Mentors
Weekly Discussion
Groups
Business Related
Assignments
Certificate on
digital insurance
“mini-MBA” &
business
qualification on
digital
insurance
ADIASSOCIATE
2020
1-3 Months
Self-paced
6-9 months
Cohort based
100% virtual
7 Courses each
with 8 x1-hour
lessons
Quick Fire MCQs
After Each Lesson
Company
branding &
customisation
options for TDI
members
Personalised by
participant –select
and complete
minimum of 50%
of lessons to earn
certificate
Life-long learning
and membership
of a global TDI
network.
All connected
digitally
Shared elements

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Participant Feedback on ADI
- what they like & learn
TDI Academy – learning for the digital age
ADI Differentiators
1. “Digital first” not digital
only nor face-to-face only
2. Insurance relevant
3. Outward looking
4. Constantly refreshed
5. More than knowledge and
learning

40. 40
Panel Q&A
TDI Academy – learning for the digital age

41. 41
Snap Poll 2 – tell us what you think!
Q. What do you think the biggest challenge is expanding L&D on the
impact of digital on insurance as part of a medium-term cultural
change programme?
Response options:
1. Digital is not seen as a strategic priority
2. Co-ordination and CEO leadership to ensure taken seriously
3. Logistics – finding the right programmes
4. Not able to switch existing L&D budget to digital insurance education
TDI Academy – learning for the digital age

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Panel Q&A
TDI Academy – learning for the digital age

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43

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TDI Corporate Members
Contact us if you would like further information on our Corporate Membership Plans
TDI Academy – learning for the digital age

45. 45
FORMAT
• One session per month
• Virtual learning and knowledge sharing
• Reviewing selected ADI lessons –
extract from recordings
• Panel discussion, Q&A and poll
• 75 minutes long
• Members Auto registered
• Email reminders
• LIVE ONLY
• CORPORATE MEMBER ONLY – free
Wed 25th June @12.30
SG/HK
Wed 27th May @12.30
SG/HK
2.1 SMAC as a baseline
2.2 AI, Machine Learning & RPA
2.3 Blockchain
2.4 IoT
2.5 Chat & Voice
2.6 Immersive Technologies
2.7 APIs & Microservices
2.8 Tech Architecture best practices
TDI Academy. Learning for the digital age.
coming-up for corporate members
3.1 The Power of Data
3.2 Python basics
3.3 Python intermediate
3.4 Data visualization & example
tools
3.5 Machine learning (+ a little bit of
deep learning)
3.6 D&A use cases in P&C
3.7 D&A use cases in Life & Health
3.8 Predictive Modelling
If you company is a corporate
member make sure you have
access

46. 46
2020 Innovation Awards
Agenda (SG/HK time)
3:00pm 2020 InsurTech Innovation Awards – 6 x 5 minute pitches plus Q&A
4:15pm Panel Discussion with InsureTech Connect Asia – Ecosystems in China
5:30pm 2020 Insurer Innovation Awards – 6 x 5 minute pitches plus Q&A
https://www.the-digital-insurer.com/event/insuretech-connect-tdi-2020-innovation-awards/

47. 47
TDI Academy programme
“Ensuring the right level of digital
insurance learning is provided to the right
people at the right time, at the right cost
and in the right way”
ADI – 3rd Cohort - September (enrolment open)
CDI – On demand. Can upgrade to ADI in September (guarantee options available)
EDI - For insurance leadership teams (please inquire)

48. 48
Snap Poll 3 – tell us what you think!
Q. What is your interest in the participating in a TDI academy
programme?
Response options:
1. Yes - for both myself and my company
2. Yes - for my company
3. Yes - for me only
4. Maybe in the future
TDI Academy – learning for the digital age

49. 49
Feedback please!
Three ways
 At end of webinar using survey
 When you receive the recording link
 To TDI and panellists individually

50. 50
Contact Details
Hugh Terry hugh.terry@the-digital-insurer.com
Simon Phipps simon.phipps@the-digital-insurer.com
Sara Roberts sararoberts220@gmail.com
Debbie Mannas debbie.Mannas@sunlife.com
Malini Nagaria malini.nagaria@the-digital-insurer.com
TDI Academy – learning for the digital age

51. 51
Putting people skills and cultural change at
the heart of digital transformation of the
insurance industry
6th May 2020
Thanks for your time!
(feedback please)