Chartered Insurance Institute

12th November 2018

Mark Lewin Department for Enterprise Chief Exec

Michael Crowe Finance Isle of Man Chief Exec

One Year On….

Department for Enterprise

Update Agencies Update

Cross Cutting Initiatives

Agenda

DED to DfE Review Aims

To build a modern

organisation for a

modern economy

Increase Capability for Economic Strategy & Policy

Leverage Private Sector Expertise through Agencies

Refocus Organisation

Sector Development

Registries

Strategy & Policy

Visit Isle of Man

Business Isle of Man

Digital Isle of Man

Finance Isle of Man

Enterprise Support

Aircraft Registry

Ship Registry

Central Registries

Policy & Strategic Planning Business

Intelligence & Mktg

Motorsport & TT

Economic Advisory

Board

4 x Sector Boards

Locate.im

Finance & Governance

Legislation

Our Vision : “To be a forward thinking, valued partner, supporting Island businesses and people to fulfil their potential.”

Our Mission : “To create an environment through innovation and collaboration, where the economy thrives.”

Our Values : Respect

Integrity Collaboration

Innovation

53 FTE 40

FTE

85 FTE

The DfE Executive Agencies

Aidan Doherty Lydia Barbara Stephen Bradley Ranald Caldwell

Non-Exec Members

Non-Exec Members

Non-Exec Members

Non-Exec Members

Michael Crowe Lyle Wraxall Adrian Moore Angela Byrne

Department Resources

Department Resources

Department Resources

Department Resources

Creating an environment, through innovation and

collaboration, where the economy thrives

Chris Till Banking

Chief Executive Michael Crowe

Chief Executive

Lyle Wraxall

Head

Adrian Moore

Head

Angela Byrne

NON-EXEC CHAIR Aidan Doherty

NON-EXEC CHAIR Lydia Barbara

NON-EXEC CHAIR Stephen Bradley, MBE

NON-EXEC CHAIR Ranald Caldwell

Gill Marples Life

Mark Denton CSP

Mark Dougherty Law Society

Stuart Nelson Chamber

Paul Hotchkiss

Tax

Simon Nicholas Professional Services & non-

life

Mr Hooper MHK

Joe Hughes MEGA

Dr Phil Adcock EGSAB

Kurt Roosen MICTA

Dr Richard Arning Isle of Media

Russell Kelly Professional Services

Deb Byron Chamber IT Committee

Kristan McDonald FuEL

Mrs Caine MHK

DFE Chief Exec DFE Marketing Partner

DFE Chief Exec DFE Marketing Partner

Stephen Smyth Construction & Chamber

Tom Chapman Property/Construction

Carol Glover Retail

Steve Pickett Logistics

Dave Taggart BioMed

Janna Horsthuis Food & Drink manufacturer

Jo Pretty UCM

Mr Crookall MLC

DFE Chief Exec DFE Marketing Partner

Mark Wilson Serviced Accommodation

Hilary Peterson Non-Serviced Accomm

Ged Power Attraction/Activity

Richard Fletcher

Events/Conferences

Brett Martin Chamber Visitor Economy

sector

MaryBeth Coll Catering & Entertainment

John Watt

Tour/ Travel operator

Mr Callister MHK

DFE Chief Exec DFE Marketing Partner

Voting rights

Voting rights

John Hockney

Insurance & Pensions

Katie Nicholson

Bridge

Dave Hester Eng/Manuf/Chamber

Phil Taylor Food & Drink manufacturer

Carl Underwood Attraction/Activity

Purpose of the Executive Agencies

Product

“Become the central focal point for the sector’s broad proposition, technical direction, strategy

and vision input to Government.”

Policy

“Assess, develop and propose ideas and initiatives to help the sector sustain and grow its proposition for the benefit of the broader

economy.”

Promotion

“Become the natural entity responsible for directing the promotion of the sector, on and off

the Island, by having clear unique selling propositions (USPs) and a targeted marketing

strategy and plan.”

Product Development

New Products

Product Refresh

Promotion

Markets

Campaigns

Events

Outcomes

Sector KPIs

Economic Outcomes

New Products

Competitive & Customer Feedback

Drive Activity

1

2

3 4

Policy Development

Research

Policy Options 5

Competitive & Customer Feedback

Policy Development

Strategies

Department for Enterprise

Update Agencies Update

Cross Cutting Initiatives

FINANCE ISLE OF MAN

Michael Crowe – Chief Executive

To promote and develop

the Isle of Man’s

significant financial and

professional services

industry

and

ensure its recognition as

an international

financial centre of

excellence,

in turn delivering long

term sustainable

economic growth to the

Isle of Man.

Finance Sector in Numbers 23% of Jobs (2018)

Banking, 2,210

Insurance, 1,970

Corporate Service

Providers, 1,670

Other Professional

Services, 1,510

Legal and Accountancy

Services, 1,250

Other Finance and Business

Services, 3,400

Finance Jobs

Finance Sector in Numbers 42% of National Income (2016/17) 31% of Personal Income (2016/17)

Banking, £356 m

Insurance, £761 m

Corporate Service

Providers, £138 m

Other Professional

Services, £130 m

Legal and Accountancy

Services, £88 m

Other Finance and Business

Services, £510 m

Contribution to National Income

Finance Sector Key Figures

• £34.27 bn Total Deposit Base

• 11 authorised Life Insurance companies with £60bn in assets invested

• Over 200 licenced TCSPs

• Deposit taking licences: 15

• Investment Business Licences: 45

• Services to Collective Investment Schemes Licences: 44

• Other Licences: 14

Isle of Man Awarded

Best International Finance Centre International Investment Fund & Product Awards

Sub Groups/ Working Groups in place

Finance Agency Journey

11 board members 3 Board meeting and 3 Strategy

meetings

Strategic & Operational Plan

Embedded within the Department

Cross Agency Projects

Work in progress – Finance Isle of Man

Policy Product / Proposition

Promotion

Banking Tax

Talent

Fiduciary

Family Office Insurance

Savings

Insurance Campaign

Event Plan

Financial Services

Strategies

Strength

Security

Stability

Service

– Advert

– Advert

– Article

– Microsite

External Pressures

Ideas?

‘The best way to have a good

idea is to have a lot of ideas.’

~Linus Pauling

Forward Thinking

Finance Agency Board

Chris Till Banking

Michael Crowe Chief Executive

Aidan Doherty Non-Exec Chair

Gill Marples Life

Mark Denton CSP

Mark Dougherty Law Society

Stuart Nelson Chamber

Paul Hotchkiss Tax

Simon Nicholas Professional Services & non-life

Lawrie Hooper MHK Political Member

John Hockney Insurance & Pensions

Department for Enterprise

Update Agencies Update

Cross Cutting Initiatives

Other Agencies

Purpose :

To develop and

implement a strategy

which will support

sustainable economic

growth

and

establish the Isle of Man

as a centre of

international excellence

for the digital economy.

Current

Product

Focus

Tech Trials

Blockchain Strategy

Alignment of Media

Sector

Digital Creation

Isle of Man

eSports Strategy

Refresh e-Gaming Strategy

Tech Boot Camp

Telecoms Strategy

Ecosystem Diagram

Purpose :

To support businesses

involved in the physical

exporting of goods and

services or operating

within the domestic

economy.

Coordinating the

promotion and

development of

opportunities within

these sectors in order to

ensure a prosperous and

vibrant place to live,

work and invest.

Work in progress – Business Isle of Man

Policy Product Promotion

To Review: Regeneration * Retail* Manufacturing To Develop: Construction*Logistics * * Food & Drink*Biomed

Dovetail: UCM Training & Education for skills strategies

Retail Policy

Sea Services

Grant & Support

Aerospace Cluster

Airport Technology Gateway

Manx Biomed Cluster

Aerospace Cluster

Airport Technology Gateway

Manx Biomed Cluster

Retail Promotion

Strategies

Serviced Accommodation

Non-Serviced Accommodation

Attractions & Activity

Providers

Event & Conference Organisers

Catering & Entertainment

Tour / Travel

Operators

Visit Isle of Man

Visit Agency Scope

Purpose : To realise the fullest economic growth potential of the Island as a visitor destination.

Work in progress – Visit Isle of Man

Policy Product Promotion

Destination Management Plan Review

Strategies

• Air Strategy

• Strategic Sea Services Consultation

• Holiday Resort Policy

• Walking • Cycling

• Event Development • Research &

Intelligence

• Travel Packages

• Winter & Spring Campaigns

• Website Development

• 2019 Marketing Plan

Customer Service & Satisfaction Measurement

Department for Enterprise

Update Agencies Update

Cross Cutting Initiatives

Cross Cutting Initiatives

• Work Permit /

Immigration

• Locate

• Brexit

• Transport

• Enterprise

Support

• Environment

• Promotion

• Products

• Policies

Sector Development

Registries

Strategy & Policy

Visit Isle of Man

Business Isle of Man

Digital Isle of Man

Finance Isle of Man

Enterprise Support

Aircraft Registry

Ship Registry

Central Registries

Policy & Strategic Planning Business

Intelligence & Mktg

Motorsport & TT

Locate.im

Finance & Governance

Legislation

Work Permit / Immigration

Polarised Opinion

Worked with Industry

Reforms

Frictionless

Removed Employee Application

Simplified Conditions

Simplified Fees

Automatic Cohabiting Partners

/ Spouses

10 x Increase in Digital Applications

> 90% approved Same or next day

Doubled Satisfaction

75%

LOCATE ISLE OF MAN NOVEMBER 2018

Enterprise Support

Enterprise Support

Enterprise Support

1. Increased funding for Start ups

2. Improved mentoring support

3. Enhanced assistance for Export Sectors

4. New assistance for nursery / childcare

5. More employer relocation assistance

6. R&D, Brexit & digital marketing

7. Expanded Business Improvement Support

8. Significantly simplified approval process

9. Fast track for Business Energy Saving Scheme

10.Bringing internal EDS – one front door

Telecoms

Environment –

Collaboration & Innovation

Summary

Department for Enterprise

Update Agencies Update

Cross Cutting Initiatives

Thank you