Future of PCI Industry
Transcript of Future of PCI Industry
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2008 Property Casualty Insurers Association of America
PCI Human Resources ConferenceApril 6, 2009
The Future of the PropertyCasualty Insurance Industry
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2008 Property Casualty Insurers Association of America
The Future of the Property CasualtyInsurance Industry
Federal and State Issues
Grassroots
Engaging with Consumers Downfall of Traditional Media
Social Media Opportunities
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Unprecedented Challenges
Our industry faces unprecedented economic,political and regulatory challenges andissues today.
New threats emerge daily that have thepotential to fundamentally affect the wayproperty casualty insurers operate fordecades to come.
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Financial Services Regulatory Reform
The current debate on the future of financialservices regulatory reform is the most criticalissue facing our industry today.
PCI Strategy: distinguish from other financialservices; address systemic risk; and helpensure least and lightest touch to industry.
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PCI Board Committee - FSRR
PCI better be at the table with constructiveideas on how to approach this.
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Systemic Risk
The likelihood and thedegree that a financialinstitutions activities will
negatively affect thelarger economy.
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State Outlook
Key issues include auto body repair,aftermarket parts, accident tax, bad faith, andworkers compensation.
Setting the record straight on insurancescoring and countering trail bar propaganda.
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Grassroots
Enhanced focus on grassroots initiatives.
Since October 2008, recruited 2,045 new
member company grassroots activists. Since January 2009, delivered over 2,000
grassroots communications to key public
policymakers.
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Demise of Old Media
In 2008, over 15,704 journalists lost their jobs andin 2009 over 7,816 jobs have been lost.
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Demise of Old Media
The Los Angeles Times, The ChicagoTribune, The Philadelphia Inquirerand theChicago Sun-Timeshave sought Chapter11 bankruptcy.
Over 66 newspapers have already foldedor will only print on-line in 2009.
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Demise of Old Media
Newsweek is shifting away from
news gathering to more editorial approach.
Time, Inc. layoff of 600 people.
Christian Science Monitor will cease printpublications and will focus on-line.
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Circulation NumbersNewspaper Circulation, As of September 2008 ~ Audit Bureau of Circulations
Down 2.5%377,517Arizona Republics
Down 11.6%448,271Houston Chronicle
Down 7.7%516,032Chicago TribuneDown 1.9%622,714Washington Post
Down 6.2%625,421New York Post
Down 7.1%632,595New York Daily News
Down 5.2%739,147Los Angeles Times
Down 3.5%1,000,665New York Times
Up 0.1%2,011,999Wall Street Journal
Up 0.1%2,293,310USA Today
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Where Are People?
USA Today 2,293,310
The Wall Street Journal 2,011,999
Washington Post 622,714
Facebook More than 175 million active users
LinkedIn 36 million registered users
Twitter 7 million estimated users
YouTube 100 million viewers in January 09
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My.BarackObama.com
13 Million online progressive advocates.
Next phase, Organizing for America.
Activated to push President Obamas Budget.
Canvas neighborhoods, knock on doors, phone-a-thons.
Over 200,000 viewed call to action on YouTube.
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Tech President
March 24th President posts question onWhite House Website.
Within two days, over 91,500 questionssubmitted via text, e-mail and video.
Over 3,562,380 votes cast on questions.
March 26th on-line and live Townhall withPresident Obama on some of the highestranked questions.
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Twitter & YouTube
From February 2008 to 2009, Twitter 1,382 % growth rate.
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Business Engagement
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Sharing Information
Red River Flood in NorthDakota and Minnesota Facebook pages andTwitter accounts created.
Mobilized volunteers to fillsandbags at specific
locations, provided realtime updates on waterlevel, and shared details on
crisis services available.
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PCI Connected
Advancing advocacy throughLinkedIn, YouTube, Twitter, Blogs
and other social media vehicles.
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2008 Property Casualty Insurers Association of America
PCI Human Resources ConferenceApril 6, 2009
The Future of the PropertyCasualty Insurance Industry
Marguerite Murer Tortorello
847-553-3604
Connect at LinkedIn and follow on Twitter @margueritetort.