Integrated Business Planning:

Breaking down the silos

Matthew Maguire Partner

Roshan Perera - Partner
Yuen Leng Chin Senior Consultant
Sheng Chieh Loh - Consultant
NMG Consulting

Dance of the Silos

What is Business Planning?

Key Stakeholders in a Company

Business planning from the various perspectives:
Chief Executive Officer

Returns on equity
Premium growth
Profit

Chief Financial Officer

Chief Marketing Officer

Retention
Propensity & Opportunity
Campaigns
Branding
Marketing materials
Expansion plans

Cash management
Financial / Statutory reporting
Investment returns
Compliance
Financial projections

Chief Operating Officer

Chief Underwriting Officer

Product mix & development

Target market
Distribution channel
Performance of claims control,
customer service

Operating results and growth

Resourcing
Efficiency
Processing Time
IT

Chief Actuary

Claims development
Premium sufficiency
Technical reserves
Risk management

Issues in Business Planning

NO CLEAR
OBJECTIVES

FRAGMENTED
IDEAS

UNREALISTIC
PROJECTIONS

INAPPROPRIATE
STRATEGIES

TIMELINENESS

POOR
MONITORING

POOR
COMMUNICATION

IT
INFRASTRUCTURE

CONSISTENCY

SILO PLANNING

TOO DETAILED

TOO SIMPLISTIC

An Integrated Business Planning

Concurrent
Planning

End-to-end
Scenarios

Buy-in from key

stakeholders
The success of business planning is not just about the returns it brings,
it is about planning in a cohesive and efficient manner
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The live boardroom

The live boardroom

Working in silos

Smashing the silos

Integrated platform
Communication beyond email
Cross-department brainstorming
Cross-functional monitoring
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Scaling new heights

Farewell to paper use of Technology
Greater Granularity
Modelling interactions at a detailed level
Greater individual involvement
Better ability to embed within the business

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Scaling new heights

Excel?
Other more advance solutions
Greater stability
Greater auditability
Ease of updating
More
with can
individuals
The ideal
FP&Aengagement
technology system
free up financial professionals
for important tasks while reducing business risks and minimising errors
from manual processes.
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Acknowledging this is not an easy task

We really arent sure whether its

harder to engineer a driverless car or
to engineer a financial planning
software.

Jon Stein
Chief Executive of Betterment
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Future might-haves in business planning

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Time to act

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Thank you
Shape your thinking on the decisions that matter. Our specialist focus,
global insights programmes and unique network give us the inside track in
insurance and investment markets. We translate insights into
opportunities.
Matthew Maguire
Partner, NMG Actuarial
Tel: +65 6325 9842
Matthew.Maguire@NMG-Group.com

Roshan Perera
Partner, NMG Actuarial
Tel: +60 3 2283 6466
Roshan.Perera@NMG-Group.com

Yuen Leng Chin

Senior Consultant, NMG Actuarial
Tel: +60 3 2283 6405
YuenLeng.Chin@NMG-Group.com

Sheng Chieh Loh

Consultant, NMG Actuarial
Tel: +60 3 2283 6498
ShengChieh.Loh@NMG-Group.com

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Thank You