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Enterprise Scorecard Workshop Results

Detailed review of enterprise scorecard results with critical success factors, proposed measures, and next steps for a high-performance financial services enterprise aiming to enhance economic value and customer satisfaction.

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Enterprise Scorecard Workshop Results

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  1. Enterprise ScorecardWorkshop Results Review Document 12/17/98

  2. Enterprise Scorecard To be an innovative, growing, high performance,public financial services enterprise that makes the future better for all our stakeholders. Objectives: Win through people, Grow profitably, Create value Financial Perspective • Earnings growth • Unleveraged GAAP ROE • RBC • Capital plan • ALM • Product & distribution mix Customer Perspective • Policies under administration • Sales (Premium) vs. plan • ROI (static & dynamic), Product GAAP ROE • Retention (Policyholders, Agents, “Partners”) • Customer Satisfaction Index • Rating within peer group Internal Process Perspective • Growth in target market segments vs. plan • Alignment - Included in plan • Technology ROI • Expense measures (e.g.Ttl general expenses as % of Ttl prem.; Investment expense ratio) Learning & Growth • Employee survey results • PDP’s completed for all leadership & % employees • Bench strength • ROI (employee) • Incentive alignment

  3. Enterprise Scorecard - Next Steps To be an innovative, growing, high performance,public financial services enterprise that makes the future better for all our stakeholders. Objectives: Win through people, Grow profitably, Create value

  4. Financial Perspective Critical Success Factors Proposed Measures Enhanced Economic Value Quality Earnings Consistent with Plan Quality ROE Consistent with Plan Capital & Risk Management Balanced Portfolio of Business • Earnings growth • Unleveraged GAAP ROE • RBC • Capital plan • ALM • Product mix, distribution mix (vs. industry)

  5. Customer Perspective Critical Success Factors Proposed Measures • Policies under administration • Sales (Premium) vs. plan • ROI (Static & Dynamic) • Product GAAP ROE • Retention (Policyowners, Agents, Partners) • Customer Satisfaction Index • Rating within peer group Expand Customer Base & Penetration of Existing Customers Develop Products that Deliver True Value to the Customer and Enterprise Provide Quality Service Meeting Customer Needs Maintain Minimum Rating

  6. Process Perspective Critical Success Factors Proposed Measures Alignment of Products, Services and Delivery to Target Market SegmentsOptimize Technology and Infrastructure Efficient and Effective Business Fundamentals • Growth in target market segments vs. plan • Alignment - Included in plan • Technology ROI • Expense measures (e.g. Total general expenses as % of total premiums, Investment expense ratio, Total expenses as % of assets)

  7. Learning & Growth Perspective Critical Success Factors Proposed Measures Employee Satisfaction Plan for Developing Current Leadership & Leadership of the Future Education and Training Recruiting & Retention Well-Aligned Incentives • Employee survey results • PDP’s completed for all leadership • Bench strength • ROI (Employees) • % PDP’s completed for all employees • Incentive alignment

  8. Recommendations for “Beta” Version • Measures and CSFs • Reduce # of measures for Capital & Risk Management CSF to 1 • Consider moving Balanced Portfolio CSF to Financial Perspective • Consider moving Expand Customer Base & Penetration of Existing Customers to Financial • Narrow measures of Develop Products that Deliver True Value to the Customer and Enterprise to 1 • Assign Owners • Ask for current results where applicable • Begin target setting (short term and long term) • Determine length of targets (1/4, 1 year, 2 years?)

  9. Changes to “Alpha” Version • Expense/Capital Management changed to Capital & Risk Management, Moved to Financial Perspective, 3 measures proposed • Additional Learning & Growth Measures provided

  10. Measurement Dictionary

  11. Measurement Dictionary Template (1 of 2) Measure: ________________________________________ Owner: _____________________________ Perspective: ______________________________________ Availability: Yes No Critical Success Factor: _____________________________ Data Source: _________________________ Definition: ________________________________________ ________________________________________ ________________________________________ Formula: ______________________________ ______________________________ ______________________________ Frequency: Daily Quarterly Weekly Annually Monthly Other:___________ Benchmark Internal External Source: _______________________________ Graphical Depiction Current Results: ________________________ Target Results: Short Term: ___________________ Long Term: ___________________ Alternative Measure(s): __________________ __________________ Comments: ________________________________________________________________________________________________________________________

  12. Measurement Dictionary (2 of 2) Measure: ________________________________________ Owner: _____________________________ Other Characteristics:

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