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The Future of Life Assurance
13th Annual Conference: Hear from leading CEOs on developments in products, distribution and policy at the UK’s flagship event
19th & 20th May 2010, The Guoman Tower Hotel, London
Featuring Flexible Retirement Solutions, 18th May 2010, Le Méridien Piccadilly, London
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Conference Agenda
Tuesday 18 May 2010, Le Méridien Piccadilly, London
Flexible Retirement Solutions
09:15
SESSION ONE: CAPITALISING ON THE POTENTIAL OF THE RETIREMENT MARKET
09:20
Providing innovative solutions for the at and post retirement markets
Tom Boardman
Director of Retirement Strategy and Innovation, Prudential09:40
Understanding and meeting the evolving needs of the post retirement consumer
Kim Lerche-Thomsen
Chief Executive, Living Time10:00
Increasing consumer and adviser awareness: improving product take-up
Dave Lowe
Pensions Management Director, Zurich Life10:20
Advisory Session
10:40
PANEL DISCUSSION - Overcoming challenges and unlocking opportunities in the at and post retirement markets
• Which customer segments offer the greatest opportunities for providers?
• How can providers meet increasingly complex retirement needs cost effectively?
• What impact will increasing longevity have on decumulation and how should providers respond?
• How great an opportunity is the post retirement market?
• How significant is the market for retirement products outside annuities and how will it develop?
• How can providers manage interest rate and inflation risk effectively?
Questions will be taken from the floor
Further speakers to be confirmed
11:10
Refreshments
SESSION TWO: THE FUTURE OF ANNUITIES
11:40
PANEL DISCUSSION - How can the industry revitalise the annuity market?
• When will we see genuine competition in the annuity market? Will the RDR act as a catalyst?
• Can annuity offerings be differentiated enough to support a competitive market place?
• How important will the enhanced and impaired annuities market be for providers?
• Are we moving towards all annuities being individually underwritten in future or is this uneconomic?
• How can the industry expose consumers to the OMO more effectively? Should it be the default option?
• What impact will Solvency II have on annuity provision?
Questions will be taken from the floor
Further speakers to be confirmed
Billy Burrows
Director, William Burrows Annuities
Steve Groves
Chief Executive, PartnershipMark Joannes
Commercial Actuary, MGM Advantage12:20
Advisory Session
12:40
Questions
12:45
Lunch
14:00
SPOTLIGHT ON LONGEVITY
Steven Haberman
Professor of Actuarial Science, Cass Business School14:20
Questions
SESSION THREE: DEVELOPING A PROFITABLE PRODUCT OFFERING
14:25
How will product offerings evolve?
David Cooper
Marketing and Distribution Director, Just Retirement14:45
Advisory Session
15:05
The potential of third way products: analysing developments in variable annuities
Dominic Grinstead
Managing Director UK, Metlife15:25
Questions
15:35
Refreshments
SESSION FOUR: IMPROVING RETIREMENT PLANNING PROVISION
16:05
PANEL DISCUSSION - How can the industry develop a more effective framework for retirement planning?
• How can the industry engage consumers more effectively before they reach retirement?
• Is enough being done to ensure that consumers understand what product choices are available to them?
• What are the respective responsibilities of providers vs advisers?
• Will the post retirement segment become more attractive for advisers post RDR?
• Should fees for the post-retirement market be lower as product ranges are smaller?
• How can the industry help those without access to advice plan for retirement?
Questions will be taken from the floor
Vanessa Owen
Head of Equity Release and Technical Services, LV=
Nigel Barlow
Head of Research, Just Retirement
Will Mowatt
Director, Mowatt Financial Planning
Rachel Vahey
Head of Pensions Development, AEGON
Rachel Vahey
Head of Pensions Development, AEGON
Biography
16:35
Helping consumers at and post retirement to make the right decisions for their future
Rachel Vahey
Head of Pensions Development, AEGON
Rachel Vahey
Head of Pensions Development, AEGON
Biography
16:55
Questions
SESSION FIVE: THE CHANGING POLICY ENVIRONMENT
17:00
PANEL DISCUSSION - What impact will proposed policy changes have on retirement?
• What will the consequences of scrapping compulsory annuitisation be for the industry?
• If compulsory annuitisation at 75 is abandoned how can the risks be managed effectively?
• What impact will raising the state pension age have on retirement?
• Can the Conservative proposals for long-term care provision make a significant difference?
• How should retirement product providers and advisers respond to proposed policy changes?
• How can the industry factor policy changes into product development?
Questions will be taken from the floor
Further speakers to be confirmed
John Lawson
Head of Pensions Policy, Standard Life GroupIan Martin
Head of Pensions and Retirement Income, HSBC
Adrian Boulding
Wealth Policy Director, Legal & General17:30
Chairman’s closing remarks and close of conference
Wednesday 19 May 2010, The Guoman Tower Hotel, London
The Future of Life Assurance - Day One
09:00
Welcome address by Juliet Knight, Director, Marketforce
09:05
Chairman’s opening remarks
SESSION ONE: ENSURING A PROFITABLE FUTURE
09:10
How must life assurers direct their strategy to secure a profitable future?
Trevor Matthews
Chief Executive Officer, Friends Provident09:30
Financial services post-election: responding to the new political landscape
Otto Thoresen
Chief Executive, AEGON09:50
Capitalising on life assurers’ expertise to develop profitable products
Mike Rogers
Group Chief Executive, LV=10:10
Promoting greater consumer awareness of and access to savings, pensions and protection
Mark Gregory
Group Executive Director, Savings, Legal & General10:30
PANEL DISCUSSION: Where can life assurers add the greatest value?
The above speakers will now form a panel to discuss the following issues:
- Innovation vs cutting costs: where will the focus lie in the future?
- Should life assurers focus on distribution or product manufacture?
- How can life assurers best meet the needs of consumers?
- What does the RDR mean for profitability?
- To what extent is there a future for packaged products?
- Where can life assurers add greater value than fund managers?
- Should the at and post retirement markets be the main focus for life assurers?
- How important will it be to maintain a strong presence in the wrap market?
Questions will be taken from the floor
11:00
Senior Representative, Cognizant
11:20
Questions
11:25
Refreshments
SESSION TWO: KEY PRIORITIES IN REGULATION
11:35
The next phase in regulation: outlining the FSA’s strategy
Ken Hogg
Insurance Sector Director, FSA12:00
Unlocking your potential
Bruno Geiringer
Partner, Pinsent Masons12:20
Questions
SESSION THREE: THE FUTURE OF ADVICE
12:25
PANEL DISCUSSION- Towards 2012: how will the advisory sector develop?
• How far will consolidation go?
• Will we see greater specialisation by adviser firms?
• What proportion of advisers will move to restricted advice vs independent advice?
• Offering online advice: can advisers exploit direct channels to engage customers?
• How will the relationship between life assurers and advisers change post 2012?
• How far will life assurers be able to influence advisers?
• Will more life assurers buy IFA networks?
• What challenges will advisor firms face in moving to fee-based structures?
• How can providers accommodate authorised investment deductions from advisor clients?
Questions will be taken from the floor
Further speakers to be confirmed
Peter Mann
Chief Development Officer, Skandia
Peter Mann
Chief Development Officer, Skandia
Biography
Peter, who has over 20 years experience working in Financial Services, joined Bankhall in 2001 as Business Development Director progressing to Managing Director then Chief Executive in August 2005.
Employment history includes: IFA/Pension Director for a large pensions firm in Glasgow and various management roles within Scottish Amicable & Prudential. As top salesman for Scot Am Peter quickly advanced to Sales Director.
As Bankhall CEO, Peter was an active member of the AIFA panel, lobbying the FSA, ombudsman, product providers and other market participants on behalf of Bankhall members. He was also a regular spokesperson on panel debates throughout the industry speaking on key industry topics and ensuring that the voice of Bankhall members and the wider intermediary market was heard.
In 2008, Peter accepted the role as Chief Development Officer within the Skandia UK Group, where he leads the market facing teams – marketing, strategy, sales and communications.
Martin Davis
Chief Executive Officer, Openwork
Martin Davis
Chief Executive Officer, Openwork
Biography
Openwork is one of the largest financial advisory firms in the UK, with over 2,500 advisers, writing £300 million of premium in 2008. Prior to Openwork Martin was CEO of Zurich Financial Services’s Global Life Emerging Markets businesses, spanning Asia, South America and Middle Eastern markets. Martin also maintained overall responsibility for Zurich International Life, the offshore subsidiary of ZFS, as Chairman. Martin was also a founding Director or Zurich Takaful.
Previously Martin worked as Commercial Director for Sesame Limited, managing over 7,500 IFAs (25 per cent of the UK market). Martin was also a Board Director of Assureweb.
Before joining Sesame, Martin was Executive Vice President, of Corillian International Ltd and spent eight years working in various business management roles for Reuters plc. Martin also served in the Armed Forces for 10 years, reaching the rank of Captain, in many operational theatres including 5 years with Special Forces. Martin is a Non Executive Director of McKinney Rogers International, a leading strategy consultancy.
Edward Stuart Brown
Head of Sales, Friends Provident
Edward Stuart Brown
Head of Sales, Friends Provident
Biography
Having qualified as a Mining Engineer, Ed worked in the South African gold and platinum mines before returning to the UK to embark on a second career in the Life Assurance industry. Ed joined Friends Provident as part of the original team that set up and ran the direct sales force.
Although Ed has a wide range of experience across the industry his focus and passion remains on life assurance and the protection needs of customers because as he comments:
“It is the foundation of every aspect of good financial planning and one where the customer for a relatively modest out lay can protect themselves and their families from potential financial ruin. Why wouldn't you be passionate about that?”
He is now responsible for all protection sales across Friends Provident.
Director
Director, 1st - The Exchange13:05
Lunch
SESSION FOUR: THE IMPACT OF THE RDR ON DISTRIBUTION
14:20
What impact will the RDR have on market structure, competition and consumers?
Reinder van Dijk
Managing Consultant, Oxera14:40
PANEL DISCUSSION- What impact will the introduction of restricted advice have on distribution?
• Who is best placed to succeed in the restricted advice space?
• Will the requirement for advisers to be qualified to Q4 restrict the growth of this sector?
• How much cheaper will restricted advice be?
• Can restricted advice cater to the mass market?
• Could restricted advisers gain competitive advantage by negotiating product charge discounts for their clients?
• How important will it be for life assurers to secure distribution partnerships with non FS brands?
Questions will be taken from the floor
Further speakers to be confirmed
Ivan Martin
Chairman, Sesame Group
Stephen Ingledew
Strategy Director, Standard Life
Stephen Ingledew
Strategy Director, Standard Life
Biography
Stephen Ingledew is the Distribution Strategy Director for Standard Life.
The key elements of his role are both strategic development and channel leadership which involve the following;
- Developing and executing the Standard Life UK distribution and channel strategies
- Leading the development and direction of the Strategic Partnership Sales channel
- Leading the development and direction of the Standard Life direct to customer sales channel
- Leading and executing the strategy to invest in IFA distribution
- Leading the execution of major strategic revenue initiatives and deals in order to capture assets
- Leading industry interface, through leadership and influence
The scope of Stephen’s role reflects the need for Standard Life to develop its’ distribution capacity and capability to deliver the Group’s growth objectives for 2012 and beyond.
Stephen has worked in the UK financial services and wealth management industry since 1984 after graduating in law from university. Over the last twenty years he was worked as financial practitioner, product development director and marketing director for a range of financial institutions such as Friends Provident, Berkeley, Schroders, Frizzell and AMP.
Prior to his recent appointment at Standard Life, Stephen was the Commercial Director of Barclays Financial Planning, the Bank’s regulated financial services channel for all customer segments
Stephen has been a board member of the Institute of Financial Services, the UK industry’s professional body and he also worked for the UK regulator, the Financial Services Authority for three years.
He has been a regular writer for newspapers as well as speaking frequently at industry conferences and on television and radio.
Stephen is married with two young daughters. Time outside the family and the business is spent with Reading Football Club, where he is a Vice President.
SESSION FIVE: WHAT FUTURE FOR BANCASSURANCE?
15:10
The bank perspective
David Stuart
Director of Investment Advice and Products, Barclays Financial Planning15:30
The life assurer perspective
David Etherington
Chief Growth Officer, Zurich Financial Services15:50
Questions
16:00
Refreshments
SESSION SIX: GAINING CONTROL OF THE CUSTOMER RELATIONSHIP
16:30
Building faith in life assurance brands
Speaker to be confirmed
16:50
Advisory Session
17:10
Developing an effective multi-channel proposition
Stephen Ingledew
Strategy Director, Standard Life
Stephen Ingledew
Strategy Director, Standard Life
Biography
Stephen Ingledew is the Distribution Strategy Director for Standard Life.
The key elements of his role are both strategic development and channel leadership which involve the following;
- Developing and executing the Standard Life UK distribution and channel strategies
- Leading the development and direction of the Strategic Partnership Sales channel
- Leading the development and direction of the Standard Life direct to customer sales channel
- Leading and executing the strategy to invest in IFA distribution
- Leading the execution of major strategic revenue initiatives and deals in order to capture assets
- Leading industry interface, through leadership and influence
The scope of Stephen’s role reflects the need for Standard Life to develop its’ distribution capacity and capability to deliver the Group’s growth objectives for 2012 and beyond.
Stephen has worked in the UK financial services and wealth management industry since 1984 after graduating in law from university. Over the last twenty years he was worked as financial practitioner, product development director and marketing director for a range of financial institutions such as Friends Provident, Berkeley, Schroders, Frizzell and AMP.
Prior to his recent appointment at Standard Life, Stephen was the Commercial Director of Barclays Financial Planning, the Bank’s regulated financial services channel for all customer segments
Stephen has been a board member of the Institute of Financial Services, the UK industry’s professional body and he also worked for the UK regulator, the Financial Services Authority for three years.
He has been a regular writer for newspapers as well as speaking frequently at industry conferences and on television and radio.
Stephen is married with two young daughters. Time outside the family and the business is spent with Reading Football Club, where he is a Vice President.
17:30
Questions
17:40
KEYNOTE CLOSING ADDRESS- What is the outlook for the financial stability of the life assurance industry?
Speaker to be confirmed
18:00
Questions
18:05
Chairman’s closing remarks and close of conference
Thursday 20 May 2010, The Guoman Tower Hotel, London
The Future of Life Assurance - Day Two
09:15
Chairman’s opening remarks
09:20
OPENING KEYNOTE ADDRESS- From mass to affluent, orphan to retired: targeting customer segments with the right proposition
Rob Devey
Chief Executive, UK and Europe, Prudential09:40
Questions
SESSION SEVEN: REVITALISING PRODUCT OFFERINGS
09:45
Capitalising on the potential of protection
Richard Verdin
Protection Director, Aviva10:05
Unlocking opportunities in pensions
Mark Polson
Head of Customer Management, Standard Life10:25
Speeding product development through adaptive rules based systems
Roger A Soppe
Director, Global Insurance Strategy, Oracle10:45
Questions
11:00
Refreshments
SESSION EIGHT: IDENTIFYING AND REACHING PROFITABLE SEGMENTS
11:30
PANEL DISCUSSION- Which market segments present the greatest opportunities for life assurers?
• How can life assurers best serve the affluent market?
• How can the mass market be profitable?
• Where do life assurers fit in if the mass market isn’t profitable enough and the affluent market doesn’t need them?
• How great an opportunity do orphan clients present?
• How can life assurers create the right structures to service orphan clients effectively?
• What can life assurers do to build relationships with the post-retirement customer segment?
• How important is it to engage younger people and how can life assurers do this effectively?
Further speakers to be confirmed
Nick Dixon
Marketing Director, SkandiaMark Polson
Head of Customer Management, Standard LifeSESSION NINE: NEW SOLUTIONS FOR THE CORPORATE PENSIONS SPACE
12:05
Corporate platforms: enhancing relationships with the pension consumer
Jamie Jenkins
Head of Corporate Strategy and Proposition, Standard Life12:25
Advisory Session
12:45
Developing effective risk management solutions for DB schemes
Nick Johnson
Head of Defined Benefit Risk Management, Aviva13:05
Questions
13:15
Lunch
SESSION TEN: PENSIONS POLICY FOR THE FUTURE
14:35
PANEL DISCUSSION- Assessing the impact of changes in pensions policy
• What will raising the state pension age mean for life assurers?
• If Personal Accounts are scrapped, what are the alternatives?
• What are the challenges and opportunities of auto-enrolment into existing pension schemes?
• Could changes in policy make public/private partnerships with the Government attractive?
• How great a responsibility do life assurers have to help solve the pensions crisis?
• Where will pensions policy go from here?
Questions will be taken from the floor
Adrian Boulding
Wealth Policy Director, Legal & General
Maggie Craig
Director of Life and Savings, ABI
Fiona Tait
Pensions Development Manager, Scottish Life
Michael Johnson
Research Fellow, Centre for Policy Studies
Michael Johnson
Research Fellow, Centre for Policy Studies
Biography
15:15
KEYNOTE CLOSING ADDRESS- Tackling the problem of ensuring adequate pension saving in the UK
Speaker to be confirmed
15:35
Questions
15:40
Chairman’s closing remarks and close of conference
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