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AGENDA
Our program includes a wide range of topics.
Please note that for each of our concurrent sessions, we have indicated who may be particularly interested in that presentation. Please feel free to select whatever interests you.
| 7:30am – 8:30am |
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8:30am – 8:35am |
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8:35am – 9:35am |
To kick off our 20th anniversary conference, our opening session looks into the future, to where the industry is going - or perhaps where technology and consumer demands will take it - over the next decade. Our panel will assess the opportunities and challenges for the industry in adapting to changes in technology and customer behavior. Our panel includes KPMG consultant Harry Pickett, formerly the Global Chief Technology Office of Manulife; author and authority of innovation and growth Dr. Cindy Gordon; and Lubo Li, Senior Director of JD Power and Associates.
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9:35am – 9:50am |
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9:50am – 10:50am |
Finance, Directors
The adoption of IFRS makes 2011 a pivotal year for Canadian financial reporting, one full of both change and challenge. Public issuers have been first out of the blocks with substantial disclosures in their quarterly reports, but annual financial statements for 2011 still lie ahead. This session, led by KPMG partner Dave Thomson and Hudson Lopez, will provide a timely update on changes affecting financial reporting in 2011 and 2012, including an overview of IFRS financial reporting examples and impacts to date.
Finance, Directors
Insurers in Europe have been devoting substantial resources to preparing for Solvency II, a sweeping change in how they will be regulated. This has required new approaches to risk analysis and financial modeling, and discussions of which regulatory regimes outside Europe will be deemed to be “equivalent” are underway. How might this affect Canadian regulation, and what lessons are there to learn? This session wil be led by KPMG UK partner and actuary Nick Dexter, who has been immersed in helping insurers in Europe meet the Solvency II challenge.
IT, Finance, Directors
Insurance organizations large and small continue to face the imperative of reducing costs. Shared services and outsourcing are not only means to reduce costs but can initiate a transformation journey. In this session, led by KPMG partner Yvon Audette, we will discuss how to leverage the service value proposition, extending it beyond cost reduction and turning your support functions into a competitive advantage.
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11:05am – 12:05am |
Finance, Directors
Canadian insurers have begun reporting on an IFRS basis, but there’s more to come, with dramatic changes in the offing for insurance contracts. One of the key challenges of the current proposals will be the effect on the emergence of profit (or loss) over time. Of course the method of scorekeeping doesn’t change the end result, but when that end result isn’t known for a few decades the impact from year to year can be quite dramatic for long-term life products – posing a very real communication challenge. KPMG's Dave Thomson, Steeve Jean and Neil Parkinson will update you on the current status and outlook for the IFRS 4 phase II proposals and how they would affect reported profit (or loss) over time for the most common specific types of insurance products.
P&C, Finance, Directors
Are the recent Ontario auto reforms working? It may be too early for the actuaries to credibly assess the financial impact of the reforms, but it is never too early for insurers to share their thoughts with respect to the influence of the reforms on Ontario auto claims experience. In this session, led by KPMG actuarial practice leader Jacqueline Friedland, we will hear about recent trends in claims experience since the reforms were implemented on September 1, 2010.
IT, Directors
Insurance organizations are embarking on an unprecedented period of investment to modernize and upgrade the capabilities of their IT systems. These investments are strategic bets for many, both in terms of the size of the investments and the need to make them pay off in cost savings and in service capability. KPMG partner Bar Kosic, Foresters CIO Peter Sweers and Manulife VP General Fund Investment Systems Mary Ann Palangio will discuss how to take a truly transformational approach that reduces risk and creates an environment of sustainable change, thereby enabling organizations to maximize investments in IT.
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12:15pm – 1:30pm |
Economic Outlook Presentation by Paul Ferley, Assistant Chief Economist, Royal Bank of Canada.
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1:45pm – 2:45pm |
Governance, Compliance, Directors
The last financial crisis emphasized the need for effective enterprise risk management (ERM), and ERM concepts are central to trends in regulatory requirements and governance in Canada and internationally. It is easy to agree that ERM is essential for insurers, but much harder to put it into practice and sustain it over time. KPMG's Peter Heimler, Rudolph Persaud and Neil Parkinson will discuss leading practices in making ERM work in a scalable, sustainable way.
Tax, Finance
KPMG’s Insurance Tax professionals will present a thorough review of income tax and indirect tax developments and issues to consider for year-end planning, including a discussion on IFRS tax implications for year-end reporting, and current developments in SR&ED. Indirect tax issues for insurers continue to change and evolve, particularly with de-harmonization and the re-introduction of a dual GST - PST sales tax system in British Columbia, as well as the anticipated full harmonization of QST with GST in Quebec. The numerous changes to the legislation affecting financial institutions, including the definition of financial services and CRA’s administrative position with respect to these services, could result in additional complexity for insurers. KPMG's Insurance Tax professionals will help you understand these changes, and the risks and opportunities for insurers.
General
Canadian insurers continue to face the challenge of attracting the best and brightest – recruiting from university campuses is more and more competitive, the millenials are demanding changing work environments, maintaining employee engagement is an increasing concern, and there may no longer be the company loyalty to which we are accustomed. Ensuring that companies not only attract the best people, but then retain them, is a key focus for many companies. What are emerging leading practices in attracting and retaining people, and ensuring they are performing to their fullest potential? KPMG's Christopher Allen will discuss what companies are doing to address these concerns.
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2:45pm – 3:00pm |
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3:00pm – 4:00pm |
Governance, Compliance, Directors
Much of the regulatory agenda has dealt with governance and capital, but increasing attention is being focused on distribution and delivery of insurance products. Our panel, Jill McCutcheon of Blaney McMurtry, Laurie LaPalme of Cassels Brock, Vivian Bercovici of Heeman Blaikie, and Anatol Monid of the Financial Services Commission of Ontario, will cover current developments, including initiatives of the Canadian Council of Insurance Regulators and the International Association of Insurance Supervisors.
General
Post-deal analyses often point to a disturbing truth - many M&A transactions do not turn out well. An enterprise must take risks in order to achieve superior results, but the risks can be daunting. KPMG's Tim Prince and Georges Pigeon will discuss recent KPMG research on M&A successes and failures worldwide, and what you should do to improve the odds, both before and after the deal.
Finance, Directors
The Finance function is critical to any business organization, and particularly in the regulated world of financial services. However, in a recent KPMG research project, finance executives around the world were frank in identifying how far they have to go in delivering on what their organizations need the most. In this session, led by KPMG's Dan Zbacnik, we will highlight the findings of our research on where the finance function needs to go and what it needs to do to get there.
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4:10pm – 5:00pm |
Dr. Darrell Bricker is Chief Executive Officer of Ipsos Public Affairs - the world’s second largest market research firm. Darrell has a long history in social and corporate reputation research, as well as research for political campaigns. Prior to joining Ipsos Public Affairs in 1990, Darrell was Director of Public Opinion Research in the Office of Canada’s Prime Minister. Darrell is a prolific author: his academic articles have been published and republished over the past 20 years. His latest book (with colleague John Wright), Canuckology, published by HarperCollins in September 2010, is a national bestseller.
John Wright is the Senior Vice President for the Canadian Public Affairs Division of Ipsos-Reid Corp. John has been the company’s lead media spokesperson for the last decade on politics, policy and consumer trends. He draws on Ipsos-Reid’s annual poll of Canada’s Most Respected Corporations, to provide insight on what Canada’s leaders are thinking and planning, where leading organizations plan to take their companies, and what makes a great company. John had his own radio show on CFRB for almost 15 years with one of the top political commentary panels in the country, and regularly co-hosts and anchors BNN’s daily market closing show SqueezePlay.
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5:00pm – 6:30pm |
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