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CSO NY 2011
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Version 1.1
Linking Strategic Planning
Antoine Walthour Head of Strategic Planning, Lean Six Sigma and PMO
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Guideline www.ing-presentations.intranet
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Agenda
ING US Overview and Business Landscape Our Strategic Planning Journey Linking the Plan, Measuring Performance, and Delivering Results Q&A
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ING US Overview
q The ING family of companies offer a comprehensive array of financial services and products to retail and institutional clients, which includes: § Annuities § Retirement Plans § Life Insurance § Mutual Funds § Managed Accounts § Alternative Investments § Direct Banking § Institutional Investment Management § Employee Benefits § Financial Planning
q Holds top-tier rankings in our core product areas q Is a top-3 provider of retirement plans q Serves over 22 million customers q Employs approximately 9,000 people
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Business Landscape
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ING US Insurance
US Insurance
• Individual Life
• Employee Benefits
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Policies Sold vs. Households with Children
Potential for Growing Need
Source: LIMRA’s Individual Life Sales Survey and LIMRA Estimates
0
2
4
6
8
10
12
14
16
18
0
10
20
30
40
50
60
70
80Policies Households w/children
1980s 1990s 2000s
43%
40%
29%
20%
74%
52%
50%
Can’t afford life insurance
Difficult to decide how much I need
Have not gotten around to it
Worry about making the wrong decision
Prefer to put money in other financial products
No one has approached me
Unpleasant to think about dying
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Opportunity – Needs Are Up
42%39%
44%
50%
23%
32%
27%25%
1992 1998 2004 2010 1992 1998 2004 2010Needs more life insurance Likely to buy in next 12 months*
Source: LIMRA’s Individual Life Sales Survey and LIMRA Estimates
Trends in Need for Life Insurance and Future Purchase Intentions
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Agenda
ING US Overview and Business Landscape Our Strategic Planning Journey Linking the Plan, Measuring Performance, and Delivering Results Q&A
1
4
2
3
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Benchmarks
§ The following companies were considered as ‘best in class’ in the area of strategic planning and their practices will be considered:
§ Ameritech § American Society for Quality Control § BancOne § Chevron § City of Phoenix § City of Sunnyvale § Commonwealth of Virginia § Corning § Dupont § Florida Power & Light § GTE § IntelJohnson & Johnson § Motorola § Southern California Gas § Wisconsin Electric Power § Xerox
(“Best Practices in Customer-driven Strategic Planning” Federal Benchmarking Consortium Study Report).
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What does strategic planning support?
VISION
STRATEGY
STRATEGIC PLANNING
Development Execution Management
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Managing Strategy
Leverage Distribution
scale
§ Grow…. § Maintain…. § Improves § Drive… § Innovate…. Effective
Distribution
1
Top tier competitive
position
§ Develop…..
Competitive Manufacturing
2
§ Process….. Invest in
technology to move to
the next level
3
Efficient Operations
Strategy Objectives Key Initiatives
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Strategic Planning in US Insurance
Talent Management
Operating Plan
USEM Meetings
Linking activities through effective planning:
USEM Deep Dives
MTP Planning
Quarterly Planning Sessions
Bi-Weekly Executive LBT/EMT
Calls
Talent Management
Strategy Development
Strategic Planning
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Shift the Focus of Planning Sessions
Strategic
Tactical
Strategic
Tactical
0%
25%
50%
75%
100%
Current State Future State
• Shift certain tactical and operational items to semi-monthly phone calls
• Increase use of face-to-face time to develop, clarify and align long-term and short-term strategies
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Partial Planning Calendar
1st Quarter February
2nd Quarter May
3rd Quarter August
4th Quarter November
Key Topics
§ Establish operating plan targets
§ Review takeaways from sales meetings
§ Discuss market conditions and internal constraints
§ Align short-term and long-term strategies
§ Clarify and review vision and long-term strategy
§ Product Strategy § Enabling Functions
§ Talent review & succession planning
§ Review macro environment
§ Strategic tactical planning
§ MTP refinement
§ Review year-end projections
§ Review PRT proposals
§ Review WPC results and build action plan
§ Talent Review
Standing Items
§ Review Year-End Results
§ Top 3-5 priorities by department
§ Review Quarterly Results
§ Top 3-5 priorities by department
§ Review Quarterly Results
§ Top 3-5 priorities by department
§ Review Quarterly Results
§ Top 3-5 priorities by department
Location § Minneapolis § Offsite (Minot?) § Leader’s Council Site § Offsite (near Malvern?)
Participants § LBT & EMT § LBT & EMT § LBT & EMT § LBT & EMT
Length § 1.5 days LBT, .5 day LBT/EMT, 1.5 days EMT
§ 1.5 LBT, .5 LBT/EMT, 1.5 EMT
§ 1.5 LBT, .5 LBT/EMT, 1.5 EMT
§ 1.5 LBT, .5 LBT/EMT, 1.5 EMT
• Review of Quarterly and YE results should be brief and high level • More detailed reviews can occur in semi-monthly phone calls
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Agenda
ING US Overview and Business Landscape Our Strategic Planning Journey Linking the Plan, Measuring Performance, and Delivering Results Q&A
1
4
2
3
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The Linkage….
VISION
STRATEGY
STRATEGIC PLANNING
Development Execution Management
VISION
STRATEGY
STRATEGIC PLANNING
Development Execution Management
STRATEGIC PLANNING
Development Execution Management
Operating Results (pre-tax)Distributable EarningsUnderlying Results (pre-tax)
IRR, after taxNet Administrative ExpensesSalesReturn on Equity, Operating Results
1. 1. 1.
2. 2. 2.
3. 3. 3.
4. 4. 4.
5. 5. 5.
6. 6. 6.
7. 7. 7.
8. 8. 8.
9. 9. 9.
New products completed on time, on target in top tier in market
Productivity, cycle times, distributor satisfaction, AdminServer progress
See targets under initiative
See targets under initiative
See targets under initiatives
Strategic Objective: Turn size into scale by becoming a broader market player.
Have efficient operations (Sections 5 and 5.1)
Mission: Provide top tier product, competitive underwriting and strategies that position ING as a leading provider of protection and accumulation.
Meet our financial targets
See targets under initiativeExpense
KEY METRICS
Core Profit, PBT, VNB, IRR, Expense, EC, Sales
See HR Scorecard
Embed Six Sigma in our culture
Drive culture of compliance and meet ORM objectives
Attract, retain, develop and engage a diverse workforce
ORM score and Compliance Scorecard
HR Metric
See targets under initiative
See ORM and Compliance initiatives
Headcount, value created, customer satisfaction
See targets under initiatives
2011 TARGETS
Reporting capability and accuracy
Drive effective distribution
Have competitive manufacturing
Strategic Projects
Channel sales by premiums and policy count Distribution expansion
Expense Management
See targets under initiative
HIGH PRIORITY GOALS FOR 2011
Life Business Group2011 Operating Plan
Vision: Be the provider of choice for independent distribution. 2011 Life Financials
§ Offsite (near Malvern?)§ Leader’s Council Site§ Offsite (Minot?)§ MinneapolisLocation
§ LBT & EMT§ LBT & EMT§ LBT & EMT§ LBT & EMTParticipants
§ 1.5 LBT, .5 LBT/EMT, 1.5 EMT
§ 1.5 LBT, .5 LBT/EMT, 1.5 EMT
§ 1.5 LBT, .5 LBT/EMT, 1.5 EMT
§ 1.5 days LBT, .5 day LBT/EMT, 1.5 days EMT
Length
§ Review Quarterly Results
§ Top 3-5 priorities by department
§ Review Quarterly Results
§ Top 3-5 priorities by department
§ Review Quarterly Results
§ Top 3-5 priorities by department
§ Review Year-End Results
§ Top 3-5 priorities by department
Standing Items
Key Topics
§ Review year-end projections
§ Review PRT proposals
§ Review WPC results and build action plan
§ Talent Review
§ Review macro environment
§ Strategic tactical planning
§ MTP refinement
§Clarify and review vision and long-term strategy
§ Product Strategy§ Enabling Functions
§Talent review & succession planning
§ Establish operating plan targets
§ Review takeaways from sales meetings
§ Discuss market conditions and internal constraints
§ Align short-term and long-term strategies
4th QuarterNovember
3rd QuarterAugust
2nd QuarterMay
1st QuarterFebruary
§ Offsite (near Malvern?)§ Leader’s Council Site§ Offsite (Minot?)§ MinneapolisLocation
§ LBT & EMT§ LBT & EMT§ LBT & EMT§ LBT & EMTParticipants
§ 1.5 LBT, .5 LBT/EMT, 1.5 EMT
§ 1.5 LBT, .5 LBT/EMT, 1.5 EMT
§ 1.5 LBT, .5 LBT/EMT, 1.5 EMT
§ 1.5 days LBT, .5 day LBT/EMT, 1.5 days EMT
Length
§ Review Quarterly Results
§ Top 3-5 priorities by department
§ Review Quarterly Results
§ Top 3-5 priorities by department
§ Review Quarterly Results
§ Top 3-5 priorities by department
§ Review Year-End Results
§ Top 3-5 priorities by department
Standing Items
Key Topics
§ Review year-end projections
§ Review PRT proposals
§ Review WPC results and build action plan
§ Talent Review
§ Review macro environment
§ Strategic tactical planning
§ MTP refinement
§Clarify and review vision and long-term strategy
§ Product Strategy§ Enabling Functions
§Talent review & succession planning
§ Establish operating plan targets
§ Review takeaways from sales meetings
§ Discuss market conditions and internal constraints
§ Align short-term and long-term strategies
4th QuarterNovember
3rd QuarterAugust
2nd QuarterMay
1st QuarterFebruary
Strategy
Plan and Metrics
Management Routines
1. Business As Usual
2. Just Do it
3. Continuous Improvement
4. Technology
5. People
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Agenda
ING US Overview and Business Landscape Our Strategic Planning Journey Linking the Plan, Measuring Performance, and Delivering Results Q&A
1
4
2
3
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Thanks