9/17/2015 FY2008 Year in Review Lori Cook Vice President, World Wide Channels and Alliances.
Robert A. Cook Senior Executive Vice President and General Manager, Asia July 16, 2008 International...
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Transcript of Robert A. Cook Senior Executive Vice President and General Manager, Asia July 16, 2008 International...
Robert A. CookSenior Executive Vice President
and General Manager, Asia
July 16, 2008
International Insurance Society44th Annual Seminar
CEO Panel IV Asia Experience: Product, Innovation and Distribution
2
Innovation in Distribution
Canada
United States
Australia
28 years experiencein North America
18 months experiencein Asia
My perspective is based on:
3
My Perspective is based on:
1999 2004 2006
#19 #10
John Hancock Acquisition
#4
#1
organic
organic
Manulife’s U.S. Life Insurance Business
New Business
4
My Perspective is based on:
Our Strategy – Multi-channel Distribution
ManufacturerManufacturer ChannelsChannels Target MarketTarget Market
Embrace all channels that can connect you to your customers
5
My Perspective is based on:
Manulife (U.S.) 1996
17%
83%
Marketing Organizations Individual Agents
Manulife (U.S.) - 2006
97%
3%
Marketing Organizations Individual Agents
Sources of Production
6
Innovation in Distribution
Strategies from North America that may lead to
Innovation in Distribution in Asia
7
Strategy 1 (Agency)
Evolve from Product Providers to Planners/Advisors
8
Strategy 2 (Agency)
End of Mass Recruitment and Low Retention
9
Strategy 3 (Agency)
Emergence ofProfessional Sales Management
10
Strategy 4 (Non-Agency)
Specialization of roles
Account Manager Wholesalers Point-of-Sale
11
Strategy 5 (Non-Agency)
End of ExclusivityManagement of
shelf space
12
Bringing Dreams to Life