INTRODUCTION

~c ¬ ¬ is a French global company headquartered in Paris.

~c ½ngaged in life health insurance and investment management.
~c Operates in Western ½urope, North ¬merica and ¬sia-Pacific and Middle-
½ast.
~c This group encompasses 5 operating business segments²
£c ºife & Savings
£c Property and Casualty
£c International Insurance
£c ¬sset Management
£c Other financial services
~c In 1988, merger between ¬ ¬ and Compagie Du Midi
~c In the same year ¬ ¬ got listed in Paris stock exchange.
~c It has 42 subsidiaries, 1600 employees and 4000 general agents.
~c Its turnover is around $45 million (US).
~c In 1994, ¬ ¬ established ¬ ¬ ¬sset management in ½urope and later
renamed it as ¬ ¬ Investment Managers.
~c In 1996, ¬ ¬ came out with an ¬merican Depositary receipts and got listed
in New York Stock ½xchange.
~c In 1999, the acquisition of Guardian Royal ½xchange made ¬ ¬ the largest
player in Ireland non-life Insurance industry.

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oWe have chosen a demanding business. If we do it right, then we enable our clients
to be life confident because the feel reassured, protected and supported as they
undertake important projects at various stages in their lives. Our vision of the
business is what guides our daily work. It reflects the social and human aspects of
Financial Protection, whose value to people has never been greater´ by Henri de
Castries, Chairman of the ¬ ¬ Management Board.
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~c Team spirit
~c Integrity
~c Innovation
~c Pragmatism
~c Professionalism
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1991 The ½quitable US¬

1994 Victoire Belgium

1994 Boreal ¬ssurances Canada

1995 National Mutual ¬ustralia

1996 Compagnie U¬P France

1999 Guardian Royal UK

½xchange

1999 ¬NYHP Belgium

1999 Nippon Dantai Japan

2000 Sun ºife and Provincial UK

Holdings

2002 Banque Directe France

2004 Mutual Of New York US¬

2005 Framlington Group UK

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~c 2001 witnessed a global economic slowdown due to the September 11,2001
terrorist attacks in the U.S resulted in claims of over US$ 70 billion.
~c In the life insurance segment, insurance companies faced pressure on their
investment margins and low fees on universal life insurance products.
~c Poor economic conditions in Japan adversely affected the consumer confidence
in financial products.
~c Due to global recession in 2001 ¬ ¬ revenues dropped by 6.25% compared to
2000.
~c ¬ ¬ had to deal with several management issues, legal issues, capital allocation,
integrating people and process due its merge with different companies.
~c ¬ ¬ operated in many countries across the world and had to face statutory,
regulatory and legal, accounting and tax systems that differed from country to
country.
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Market Share

Net cash Flows

Client Satisfaction




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Scope Results employees

Scope Result agents

 

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Combined ratio

Present value of future profits in life

ºife and saving cost/ income ratio

 %

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Implementation of ¬ ¬ Way

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~c ºisten to the voice of the customers(VoC)
~c Improving process performance to meet customers expectations
~c Continuous Improvement of the performance
~c Continuously listening to customers
~c Building a customer and performance oriented culture
~c Transfer to tools and methods to systematically control and act on the
performance

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~c Regular customer feedback & incorporating it into its products and services
across the organization.
~c ¬ ¬ Ireland started oMad House´ Program
~c oVOC´ was used by ¬ ¬ to introduce several new products.
~c ¬ ¬ introduced Multihelp, comprising of four different insurance products.
£c Driving Help
£c Travel help
£c Home Help
£c Insurance according to the mileage estimatec
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~c ¬ ¬ considered its employees as its most valuable asset and believed in
keeping them motivated.
~c ¬ ¬ kept its employees informed about the strategies and objectives of the
group.
~c ¬ ¬ had been conducting scope surveys for its employee to measure
employee satisfaction.
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~c Ownership of the tasks they were involved in and contribution towards
improvement of processes.
~c ¬wareness of their activities, the group (strategies and objectives) and
contribution to organization.

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~c D ± Identification of complaints.
~c M ± ¬udit of a sample of payments.
~c ¬ ± Instance of inaccurate payments and the causes of mistake.
~c I ± correct commission rates.
~c C - Query system.c
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~c ¬ ¬ Ireland ±
£c Innovation Quadrant - creating customer focused opportunities,
improving, elimination, reusing success stories
£c Madhouse program
~c Voice of customers ±
£c Odyssiel in France
£c Multihelp in Germany
£c Insurance according to mileage estimates in Italyc
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~c In a span of one year 200 ideas were presented of which 20 were
implemented.
~c Scope survey score increased from 36 in 2003 to 47 in 2005.
~c Customer satisfaction on servicing increased from 64 to 69 percent, and in
customer satisfaction on selling it increased from 64 to 79 percent
~c Customer retention in Japan(10.6-6.6), reinvestment for maturities in
Portugal(48- 57), reinvestment rate in Italy(27-44), Spain(23- 42)
~c Increase in annual benefits ¼ 38 million to ¼ 200 million.

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~c 90 percentages of the growth revenues.
~c Customer satisfaction.
~c Customer retention.
~c ¬nnual benefits-technical gains, productivity gains, reduction in general
expenses, incremental revenues, cost reduction.
~c Wide range of the product.c
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~c Implementation of MBO.
~c Implementation of ½V¬.
~c Implementation of the B¬º¬NC½ SCOR½ C¬RD.
£c customer perspective
£c financial perspective
£c internal business process perspective
£c innovation and growth perspective
~c Feed forward control.c

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