About the company

Global financial services company

Served as a broad customer base
Organized along six major business lines
Provided an array of banking , insurance and asset
management services
 Jacques Kemp
 Started career on the banking side of ING
 Setting up the ING Los Angeles office
 Chairman of ING Bank International
 Mergers and Integration
 Global head of E-business for ING group
 Joined executive committee of ING Insurance
Asia/Pacific
 Insurance Industry in Asia
 Rapid economic growth & general increase in
the popularity of insurance products
 GDP was relatively high
 Demand for life insurance was high
 Reasons for the popularity of life Insurance
 900 insurance companies
 ING in Asia/Pacific
 Responsible for life insurance operations & asset
wealth management activities
 First European company
 Ranked among the top five foreign financial services
 Business across mature markets , semi-mature
markets and emerging markets
 Various types of life insurance , wealth management,
retail & Institutional asset management products and
services
 Continuing…..
 Distribution channels
 Service centers
 Leading position
 Showed robustness against the market volatility
 Aetna Integration
 American based international insurance organization
 Accomplished and rebranding
 Rebalance of the portfolio
 Regional structure
 Organized by business units
 Monitoring centre
 Top player in the key market
 Individual business units
 Internal organizational characteristics & operating
styles
 Kemp’s size-up
 Better coordination between the regional office and
individual business unit
 Key issues:
• Line & functions should be better aligned
• we should set clear objectives
• we should pay for performance
• we need a better operating/business model to execute
HOW???..
 Consultants
Top international consulting firm
• McKinsey & Company
• Monitor
• Boston Consulting group
 McKinsey & Company
Problems:
 Strategic portfolio management
 Pro-active human resource management
Issues:
 Lack of marketing and operational recommendation
 Monitor group
Problems:
 Branding is the driving force of all process
Issue:
 Branding should be considered in most processes,
but not as the driver of every thing
 Boston Consulting Group
Problems:
 Identified six functional categories in which
capabilities should be improved or developed
Issue:
 Reputation management and compliance