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Greg Case - Our Six Capabilities

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We're describing our 6 capabilities. Risk, Retirement, Health, Talent, Data and Analytics, Capital. Our six. And we've got to be ready to be able to talk and move and toggle between different conversations and talk about these six areas. Here's what this sounds like. In Risk, every company you're sitting across the table from in Risk, is managing volatility. They've got new risks, it's compounded by new regulation. They're adapting to globalization, whether they're global or not. They're trying to keep pace with new risks: Cyber. Pandemic. All the different things out there on the horizon. And if you're from AON Hewitt and you're sitting across from one of your clients, they have these risk issues. Period. By the way, half of them, according to our risk survey, believe their risks are gonna change over the next 3 years. That's a fact. Against that set of client challenges and risk, we have an amazing set of capabilities. 20 billion dollars spent over the last number of decades to build the platform. 350 million a year on data and analytics. Thousands of competitors were unique among them. Power of AON United, a set of customized solutions. What we can bring to the table here is unprecedented. Think about examples like Uber, thousands around the world. Tremendous capability. Retirement. Every one of our clients that has employees... Do any of your clients have employees? Any one of them have a set of retirement issues. They're big. Their retirement issues start with the idea that the landscape is changing very fundamentally. Employees, every one of those employees has expectations. They're not gonna be met. Who is responsible for that? Unclear. Little bit of them, little bit of the company, little bit of the government. No one knows how it's gonna play out. The level of advice needed here is huge. Again, our pension survey basically suggests that the trustees believe half of their strategies are inadequate. And against that challenge, our capability. We are market leaders, we've got the best insight, remember I described 6 trillion, part of 31 trillion. We have very detailed, data driven solutions that we bring to bear on behalf of our clients. 1.3 million we track every year in an index and choose on how that evolves. 5000 discrete custom solutions for clients. We have expertise that is both on the investment side and the administration side. That's incredibly rare. The power, what we have on retirement, is unique. And, examples: Motorola, we've talked about it before, we freed up 4 billion dollars on Motorola's balance sheet, to help them actually drive their strategy as a result of this. Tremendous. British Airways, I love this example. This is an epic crisis for British Airways. Their pension deficit, greater than their market cap. A bit of a problem. They couldn't actually secure a plane without going to their pension trustees to ask for permission. Our team helped them actually evolve beyond that, to be able to drive their strategy. Health, spend is increasing, it's growing at 7% a year, expected to for the next foreseeable future. Demographics are getting worse, aging population. The burdens are shifting. If you think about it, out-of-pocket costs for employees have gone up 81%. Unbelievable increases over the last number of years. Regulatory complexity by itself, there's, I don't know, 15 thousand new pages of regulation in the U.S. alone over the last 18 months. It's off the charts. And there have been promises made to employees that employers just fundamentally can't keep. And again, back to what we already do, talking to our clients, 65% from our health care survey, our clients, basically said they have to reduce health care costs. In order to be able to drive their strategies forward. Against this challenge, our capability. Formidable. John Zern would say: "We are navigating at the speed of health." Stronger relationships in the market. Tremendous innovations we're bringing to the marketplace on health, with real experience and expertise. Again, we administer benefits to 22 million, across the world. Tremendous capability here. With very uniquely adaptable solutions we can bring to the market. 10 thousand in fact, the last count, unique solutions we brought to the market on the topic of health. AT&T for me it's just amazing. I mean, when Randall Stephenson places in our hands, literally, the health needs of his entire retiree population, that says it all. Huge. Talent. Talent: people are our firm's greatest assets, we know that. It's true for our clients as well. Their biggest cost in most cases. And the solutions on how to actually think about talent development, value proposition shaping on behalf of your very precious talent. Off the charts, tremendously important, on behalf of our clients. And our capabilities here again, team, are unique. We know demand is increasing, there's 10 billion dollars a year spend alone on trying to get talent advice. In the middle of that, we bring very clear, very specific data driven solutions that help clients succeed. And I love the example here: Dropbox. 400 million individual users. We've helped Dropbox evolve from a concept to truly a formidable global player, working with them on the topic of talent. In fact, we've done for Dropbox on talent what we did for Uber on risk. Tremendously, tremendously powerful and important. Data and Analytics. This is everywhere, it touches everything our clients do, it comes up everywhere, it touches all of our capabilities, everything they do as well. It drives challenges for them. Ultimately, there's so much data... What do you do with it? Helping them understand how you translate data into action and action into results. Very specifically, it's at the heart of what our clients have to figure out how to do. I mean, we know by 2020 there's gonna be 50 billion devices connected to the internet. You know, 8 per person around the globe. And our capability in this regard is again distinctive. Unmatched investment, 350 million annually. Great pattern recognition. Maybe the best pattern recognition. Again, 78 billion of insurance premium, 30 billion reinsurance, 6 trillion on the pension side, and so on and so on. Tremendous capability we bring to bear on behalf of data and analytics, with world class expertise. 6000 analysts around the world, whether it's in our business units or it's in Dublin or in Singapore. Tremendously powerful. The work we've done with Freddie and Fannie, which opened up the mortgage market to insurance capital, is an example of this. Tremendously powerful. And that also, by the way, could show up on the last one here, which is Capital. The client challenges here are formidable. Every one of our insured clients is worried about capital. M&A everywhere, new capital coming in into the market. Tremendously important. And on the primary company side, think about this fact: 50% of our clients, when they reflected on the risk management survey, 50% said their risks are gonna change fundamentally over the next 3 years. 50 per cent! That means they have uncertainty that is unprecedented. And against that, many of the risks they have, are not addressed by insurance, are not addressed by insurance capital, so the opportunity here is tremendous. And what do we bring? On capital, we are the innovative early adopter. We built and trailblazed the ILS marketplace, more than 25 billion since 2001. We are the trusted first time partner. Again, since 2010, we've been the pick of first partners 2 to 1, compared to everybody else. We have capability here no one else has. We've got the best view of the marketplace, with a combination of both broking and investment banking capability we can bring to the table, which creates very unique insight. I mean, the work we've just done for Everest Re, it's phenomenal. We created a billion dollars of new capital for them, lowered underwriting costs, and given them strategic options to invest back into the market they simply didn't have before. So, team, across these capability areas, as a senior leader, we've all got to be able to articulate these core capabilities. We have to. It's the price of admission. You've got to be able to do what I just did very comfortably, in your conversations, to weave them in. And it's not a new idea. I know it. I've seen it. Some of the best storytellers are sitting here, I've learned from you in this room. And it's about capturing and codifying what you do naturally.

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Duration: 8 minutes and 43 seconds
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Posted by: gabriella61 on Apr 6, 2016

Greg Case - Our Six Capabilities

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