Strategies for Managing Sensitive Information

1. Strategies for Managing Sensitive Information Richard McLaughlin Vice President Chief Marketing Officer RBC Royal Bank

2. What is your primary goal? 1. As a health care professional I am primarily interested in saving lives and providing superior health care. One way to accomplish that would be to provide a balance of proactive medical care to prevent serious illness, etc. and reactive medical care when a serious situation arises. 2. While I am in the health care industry, caring about patient health is table stakes. We have a business to run. We need to provide services that produce revenues and effectively control our cost to serve. 3. I need to do both.

3. Today’s Journey • Who is RBC • Understanding what is important • Why the medical world should care about experiential branding • Building an information management capability that works • The power that information can provide • Creating a consistent experience • The critical importance of privacy • Lessons learned

4. RBC Financial Group … • United States • RBC Centura • RBC Mortgage • RBC Builder Finance • RBC Dain Rauscher • RBC Liberty Insurance • RBC Capital Markets • Canada • RBC Royal Bank • RBC Insurance • RBC Investments • RBC Capital Markets • RBC Global Services • 12 million clients • International operations in 30 countries • Market Cap of approx. $31.7 billion • Assets : $382 billion

5. …My bank will help me better manage my finances …My bank will be honest and transparent High Trust Mutual Benefit- Reciprocity …My bank offers me the best counsel Reassurance Comfort Understanding …My bank knows what I need …My bank knows me and I am recognised Importance toClient …Obtaining Standard Services 24x7 Online Banking 1-800 Number ATM Access GenericMail Convenient Hours Short Lines Low High FIs Proficiency At Delivering What is Important To The Client I Value...

6. …My bank will help me better manage my finances …My bank will be honest and transparent High Trust Mutual Benefit- Reciprocity Attract, Develop & Retain Profitable Relationships …My bank offers me the best counsel Reassurance Comfort Understanding …My bank knows what I need …My bank knows me and I am recognised Importance toClient …Obtaining Standard Services 24x7 PC/Internet Banking 1-800 Number ATM Access GenericMail Convenient Hours Short Lines Low High FIs Proficiency At Delivering What is Important To The Client I Value...

7. What Clients Really Want: • Show me that you care • That you appreciate and value my business • Treat me as an individual, not a number • Demonstrate to me that you understand me - regardless of where or when I interact with you

8. What would patients say they really want? • Show me that you care • That you appreciate and value me • Treat me as an individual, not a number • Demonstrate to me that you understand me - regardless of where or when I interact with you

9. Traditional Product Branding

10. Experiential branding

11. Tough challenge………… How do you deliver?

12. Reinvesting in our business Timeline on CRM capabilities introduced Up to 1996 1997/1998 1999/2000 2001 2002 Real Time operational client information Client and account information available internally online Client profitability model and segmentation New sales routines and processes RBC Banking “Do not Solicit” capability Implemented industry leading Marketing datamart Re-designed sales and service desktop supporting new sales routines New and more precise client value model Life Stage Segmentation and Potential First client strategies and automated leads to the desktop Automated decisions Retention management Client risk/collection management Campaign management automation eOffers via On-line Banking Enterprise client data warehouse Business Markets datamart integrated in to data warehouse Contact centre queuing based on client value Pricing based on client value Client Preference and Choice – enterprise consent and solicitation management

13. RBC Royal Bank Client Segmentation Framework Strategic Codes Tactical Codes Client Risk Client Profitability Propensity to Buy & Growth Models Client Segment Code Product Attrition Models SEGMENT STRATEGY Current Potential/ Lifetime Value Activation Models Client Vulnerability Client Consolidation Channel Preference Client Commitment

14. What if……. • You had a digital record of a patient’s complete medical history from birth….and linked with the record of every relative? • You knew every symptom, lab test result, prescription, treatment and result? • You used that information to identify trends and correlations?

15. Could you…. • Predict an illness before it happens? • Help researchers find cures by giving them sample sizes they currently don’t have access to? • Reduce the cost of critical health care by proactively providing preventative solutions before the traditional symptoms appear? • Use your imagination to create possibilities that now seems improbable?

16. CSS Desktop – Glance

17. CSS Desktop – Proactive Lead List

18. Relationship Pricing Model

19. Relationship Pricing Model

20. Privacy and Information Management • People won’t care how much you know…as long as you show them how much you care. • There is no “middle ground” with privacy • Use information to serve patients better, faster, cheaper and/or to save lives • If information is serving your needs at the expense of the patient it won’t last

21. Effectively Managing Privacy • ECR • Enterprise Client Registry • A number that links all files together irrespective of regulatory restrictions • P&C • Preference & Choice • The ability for a person to identify their individual needs/wants combined with an ability to store and honour those requests

22. Interactions What to be contacted about Whether to be contacted When to be contacted Products and Services Currency Initiator of contact Information Sharing Tenor of contact Third party opt-out DeliveryChannels Language Rates How to be contacted Third party opt-in Pull options Affiliate opt-in Access Channels Limits Presentation options Affiliate opt-out Internal opt-out Querying Information availability Internal opt-in Actions Reporting Opt-in/out by purpose Opt-in/out by entity Fees Opt-in/out by data element KYC Three Domains for Preference & Choice

23. Preference and Choice Tab

24. What have we learned? • Cultural momentum can work for you - or against you • The “make or break” is at the point of interface with the customer • The integration of thousands of initiatives requires a program management discipline that most organisations do not have

25. What have we learned? • Tension and disagreement is inevitable and can be healthy - don’t sweep it under the rug. Find constructive ways to use the situation to find creative new solutions without slowing the process down • For the people involved in the change - invent ways to have fun. The emotional toll is high for those who are “at the centre”.

26. What have we learned? • It’s great to get it started as a “project” working under-cover • Once “senior management” declare, the pace of change will accelerate • Effectively managing privacy is a requirement. One mistake puts you out of the game. Properly done, however, it can give you the advantage

27. Summary • Craft an experience that supports a deliberate strategy for every patient at each point of interaction – your brand is the sum of those interactions • Senior level sponsorship is critical. Get something small started to begin the change – the pace of change will accelerate when senior support is openly declared • Be aware of the change management dynamics – both the changer and the changee will burn-out • Use the patient’s voice as the sound of reason. Ask the question “if the patient was in the room with us right now, what would they want us to do?” This is particularly true with privacy.