I.I.I. Strategy & Execution

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I.I.I. Strategy & Execution I.I.I. Strategy & Execution Communications Committee Meeting January 2018 Sean Kevelighan, Chief Executive Officer Insurance Information Institute 110 William Street New York, NY 10038 212.346.5520 [email protected] www.iii.org Executive Summary As we build off a strong year of restructuring and growing new capabilities, 2018 will be focused on deepening those efforts and elevating I.I.I.'s voice across our key issues areas. This presentation reviews I.I.I.'s activities over the past year and looks ahead to the strategy and goals driving our efforts in 2018: Mapping of our core issues provides a framework for guiding the organization’s allocation of resources towards strategic initiatives. Additionally, research will continue to strengthen I.I.I.'s positioning as the go-to resource for data insights across the insurance industry. Communications efforts will focus on driving the industry's narrative and elevating the organization’s profile across four key pillars of activity -- catastrophe resilience, economic growth, innovation, and talent recruitment. 2 I.I.I. Vision Our Value Proposition Continue to be the trusted voice on insurance issues and positively promote industry news. Build upon our strong legacy to become the industry's leading think tank – the first stop for fact- based insurance research and educational resources grounded in economic and actuarial soundness. 3 I.I.I.'s Strategic Communications In 2017 Media Engagement & Outreach Digital & Industry Collaboration Facilitated 350 interviews related to Revamped the I.I.I website and online hurricane season and California webinars wildfires Collaborated with partner trade Secured national broadcast groups on impaired driving campaign interviews for member companies on Hosted Joint Industry Forum 2017 disaster preparedness 4 Research & Education: 2017 Countdown Pages in the 2017 Fact Presentations given 250 Book 45 Requests fulfilled by Webinars hosted 250 Information Services 5 Posts published on White papers published 212 I.I.I.'s blog 2 Interviews of Research st Edition of "Economic 67 & Education staff 1 Snapshot" published 5 Auto Costs: A I.I.I. Campaign Better Economy 18 Percent of = More Drivers Injury Crashes = More Accidents Economic well-being Distracted driving Safety Devices Can Be Why rates Speed Expensive Expensive go up Still auto parts Kills Faster driving Legalized marijuana The Big Disconnect Source: Insurance Information Institute research 6 On The Road With Auto Messaging Presentation Given Presentation Scheduled Testimony Given Testimony Scheduled Media 7 Focusing Our Energy On Core I.I.I. Issues Mapping Tactics Manage — Monitor for shifts in issue salience and maintain digital ads High Elevate — Introduce creative ways to drive Inform Own communications through events and thought leadership — Proactively engage national, regional and trade media Inform — Insert insurance narrative into broader business and consumer conversations Public Discussion Public — Seek educational opportunities to Manage Elevate provide industry insight Own — Combine new research with innovative Low communications to drive core issues — Pursue partnerships to foster dialogues Industry Opp/Risk Low High beyond the insurance community 8 Our 2018 Focus Mapping Where Our Issues Stand Inform Own Audiences High Insurance As Nat Cat Resilience B2B Economic Capital B2C Cyber Risk Insurance Political Risk B2G Auto Insurance Strategic Pandemic Risk Initiative Manage Home/Rental Elevate InsurTech Insurance Public Discussion Terror Business Insurance Interruption Fraud Industry Talent Low Low Industry Opp/Risk High 9 Our Tactics Elevating Issues With Communications And Research Inform Own High • Explainer content and timely • CEO communications commentary • Proactive multi-channel • Develop partnerships across sectors communications • Create new compelling data • Rapid response capabilities • High-level briefings • Research and event investments Manage Elevate • Opportunistic communications • Creative communication campaigns • Updated content and marketing • Develop partnerships within sector Public Discussion material • Research should frame issue within • Ongoing digital communications larger context • Member-specific support • High-level briefings Low Low Industry Opp/Risk High 10 Engaging Strategic Initiatives Enhancing Brand Value + Staying Current Defining Automobile Insurance (Automobile Dedicating Narrative On Academic Study) resources to Top Issues strategic Customer Insights (JD Power initiatives will Survey Series) drive innovation P/C (Control Risks Supply Chain and expand Report & Webinar) I.I.I.'s engagement in Leading On InsurTech Advancements (ITL key issue areas. Emerging InnovatorsEdge) Issues If these short- I.I.I. eLearning Library term investments (GRNN/LLTV) are successful, we will find Pandemic Preparation (Atlantic permanent Council Pandemic Resilience budget for them Content Development) in 2019. 11 Maintaining Ten "Must Wins" Focus* Marketing And Be the trusted voice of the industry Communications Deliver positive information about insurance Research And Distribute objective, fact-based P/C Education insurance information Current Status Across Key Enhance economics function Performance Indicators: Create new revenue streams Complete – 32% Ongoing Industry Maintain membership – 58% Engagement Timing At Risk Create industry collaboration – 10% Expand membership Finance And Build operational excellence Operations Re-gain financial sustainability * Details of “Must Wins” progress contained in appendix. 12 2018 Strategic Communications Plan I.I.I.'s 2018 Strategic Communications Pillars Building Upon Our Foundational Issues Talent Innovation Catastrophe Economic Recruitment And Resilience Growth And InsurTech Retention Auto Cost Drivers Cybersecurity Industry Regulation Home Insurance Reinsurance Commercial 14 Pillar One: Catastrophe Resilience Ongoing Priority 2018 Goals Create opportunities to address catastrophe resilience across NFIP reauthorization, technological advances in risk modeling, infrastructure investment, and rate-setting Increase public awareness of the vital role of insurance in risk assessment and mitigation, as well as response and recovery through strategic partnerships Share Consumer Create Multimedia Engage With Media Stories Content Partner with members Produce video Secure national media and advocacy partners testimonials and an partnership to highlight to find consumer I.I.I. co-hosted podcast call-to-action, stories on the positive to convey insurance amplifying with I.I.I. impact of insurance as key to personal data visualizations fulfillment and financial resilience 15 Pillar Two: Economic Growth Ongoing Priority 2018 Goal Inform consumers and policymakers about how insurance provides an economic safety net, establishes financial resilience, and contributes to the American economy Promote Research Engage With Media Host Salon Dinner Release new I.I.I. Engage editorial Partner with white paper on boards in high-level Brookings Institution insurance as an briefings on to invite guests for a economic driver, commercial trends dinner, panel, and publish quarterly that reflect the group discussion on economic snapshot, industry's positive white paper findings and launch digital economic impact landing page for I.I.I. non-resident scholar network 16 Economic Innovation and InsurTech Q2 2018 Priority 2018 Goals Promote technological advancement as imperative to modernize the insurance industry Enhance the customer experience and generate growth opportunities Position the I.I.I. and members as thought leaders for innovation Host Industry Forum(s) Sponsor Hackathon Launch Task Force Identify ways to make Partner with Launch I.I.I. innovation the Forum more universities and task force on interactive, and insurance innovation and emphasize CEO organizations to host a InsurTech issues, and perspectives on the student hackathon and contribute content to future of insurance for generate media for the the I.I.I. innovation media outreach event "Knowledge Hub" 17 Pillar Four: Talent Recruitment And Retention Q3 2018 Priority 2018 Goals Shift perceptions of employment in the insurance industry towards an exciting and innovative career path Generate media coverage to communicate the benefits of working in insurance College Recruitment Millennial Audience Engagement Plan and host events for college Partner with a member company on students to share compelling a talent-related brand or HR research information on careers in the campaign, targeting a new insurance industry, train generation of consumers and talent ambassadors to teach students about through targeted digital content coursework relevant to insurance, and engage regional press to increase likelihood of coverage 18 2018 I.I.I. PR Campaigns GOALS Increase Public Awareness to Address Multiple Audiences Through reaching mainstream consumers and improving the public understanding of insurance – what it does and how it works – we can attract new talent, new customers and new Insurance Information Institute partners. Communicate, Collaborate and Build Continue to be the trusted voice of the industry, working with business leaders and member relationships on key initiatives while consistently developing areas for future growth. Through this process, ensure that I.I.I. communications campaigns are bringing value to its members. Think Scalable and Be Resourceful Execute big, creative public awareness campaigns that are realistic and truly actionable
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