Zurich Centre Wexford …A Success Story

1. Zurich Centre Wexford…A Success Story 31st August 2012

2. Contents • Zurich in Wexford • About Zurich • Why a Wexford base • Recruitment and Training • Encouraging Continuous Development and future Careers • Emerging trends Insurance Distribution Landscape Regulation Claims • An International Perspective • Our success in Wexford

3. About Zurich • Founded in 1872 • Presence in 170 countries • 60,000+ employees worldwide • Rating recently upgraded (S&P AA-) In Ireland: • One of Ireland's leading providers of General and Life products, employing over 1,000 people. • Offers a range of Personal and Commercial lines & Life insurance products including home, motor, travel, commercial motor, personal accident, life, pensions and investments. • Zurich’s General Business in Ireland is part of Zurich Insurance plc (ZIP), which is Zurich’s European general insurance headquarters based in Ireland. • Zurich Centre of Excellence (ZCW) - Established in Wexford in 2008, it demonstrated our enthusiasm and commitment to our operations in Ireland. • Zurich directly employs 147 here in Wexford.

4. Why a Wexford base • Accessibility to Dublin • Demographic • Real Estate Opportunities • Business Support • Major employer in the local market • Calibre of Employees and Local Educational Infrastructure • Connected Entity which meant we already had a presence in Wexford Teams in Wexford include: Customer Care Accounts Payable Technical Underwriting Claims Team Actuarial Pricing Payment Services Credit Management Broker Support Facilities

5. Wexford….. 147 Wexford Employees 5Students employed fulltimeafter work experience 450 Brokers around Ireland being dealt with 81,539 Claims calls answered 219,224items ofpost cleared annually 77,163 Customersrenewals were dealt with 156,000phone calls answered within15 seconds in 2011 55,869 live direct debit accounts

6. Recruitment and Training What’s priority: • Clear, Concise, well structured CV • Strong educational record • Experience The process: • Telephone Interview • Verbal Reasoning- designed to measure the candidate’s ability to understand written information and to evaluate arguments about this information. • Numerical Reasoning- designed to assess the candidate’s understanding of tables of statistical and numerical data as well as the candidate’s ability to make logical deductions. • Occupational Personality Questionnaire– Personality questionnaire allows the company to review a candidate’s predicted behavioural style and forward plan which team and environment the candidate is likely to prosper in. Day 1: Training • Classroom Training • Desk-side Training • Buddy Up System Zurich People Power Zurich Academy CL Training Programme CPD Project Blackbelt Coaching Certificate

7. Continuous Learning & Development • Encourages professional qualifications, the company realises it can be a passport to a successful career in any organisation. • Encourages you to be versatile and reflective, adapting to ever-changing needs and circumstances. • Encourages professional development of its people. • Through study supports incl. additional study leave. • Aiding Education fees. • Offering additional courses through Zurich Academy. • Some of the supported learning includes Certified Insurance Practioner Exams and Advanced Diploma in Insurance through the Insurance Institute of Ireland, Bite size courses run by Learning & Development, Ashridge online training, Group Learning Management System and Zurich Academy. • All above delivers first class learning solutions to leaders, managers and all employees at Zurich. • The Zurich Academy provides the framework to enhance our technical capabilities within GI Ireland. It will helps employees develop their full potential to create real differentiation for Zurich through their expertise, experience & professionalism. • Zurich Academy is a global initiative to ensure a seamless approach to learning and development within the HR (L&D) function and all the Business functions.

8. Emerging trends Insurance • Need to build technical knowledge/ professionalism in the industry • Move towards direct for PL • Hardening of market – less competitors in hard market • Use of IT/ Mobile technology etc Distribution landscape The distribution landscape has changed significantly of late. • Numerous acquisitions and buy outs • Insurers are becoming more aggressive in Direct as a result of new online competitors Claims costs continue to rise Over the past number of years we have seen an increase in: • fraudulent claims as a result of the economic downturn • frequency in weather related events Regulation • Heavy regulation • CPC • DPC • Solvency II • Latest EU legislation states that with effect from 21 December 2012, insurers will not be able to use gender as a factor in pricing products

9. An International Perspective • Continuous improvement is a way of life in Zurich here and internationally • Group level reviews are completed throughout the organisation to see what is working and….. • Wexford has been highlighted internationally as a success story • Model/ Structure • Culture in the organisation • Employee Engagement • Successes • Visit recently from UK and Swiss colleagues who are reporting back to all European business units with a view to replicating. Opportunities within Group for ZCW employees

10. Our successes since Wexford • IBA Service Excellence Awards 2010 Ranked No. 1 in 28out of 37 awards in the Large Insurer category. • IBA Service Excellence Awards 2011 Ranked No. 1 in 36 out of 37 awards in the Large Insurer category. • 2011 Winner of the PIBA Broker Service Excellence Award In the General Insurance category • KBC Bank Ireland selects Zurich to offer new home insurance products to Irish homeowners • Nominated provider for AON SME tender