Indianapolis Life Insurance Company Balanced Scorecard Project Tier II Scorecards Draft Version 2.0 January 21st, 1999 - PowerPoint PPT Presentation

1 / 10
About This Presentation
Title:

Indianapolis Life Insurance Company Balanced Scorecard Project Tier II Scorecards Draft Version 2.0 January 21st, 1999

Description:

Indianapolis Life Insurance Company Balanced Scorecard Project Tier II Scorecards Draft Version 2.0 January 21st, 1999 e Product-Market Responsibilities Product ... – PowerPoint PPT presentation

Number of Views:159
Avg rating:3.0/5.0
Slides: 11
Provided by: Ern346
Category:

less

Transcript and Presenter's Notes

Title: Indianapolis Life Insurance Company Balanced Scorecard Project Tier II Scorecards Draft Version 2.0 January 21st, 1999


1
Indianapolis Life Insurance Company
Balanced Scorecard Project Tier II
Scorecards Draft Version 2.0
January 21st, 1999
e
2
Product-Market Responsibilities
Summarization of key responsibilities for
Product-Market Portfolio and Product Managers
  • Product-Market Portfolio Responsibilities
  • Portfolio profitability
  • Oversight of the New Product Development process
  • Prioritization of product lines under development
  • Identifying new markets and oversight of
    portfolio market planning
  • Product Manager Responsibilities
  • Product Profitability
  • Market research (check on alignment with
    distribution)
  • Product development
  • Pricing
  • Product filing
  • Illustration software development Re-proposal
    development
  • Product promotion (Compliance marketing
    materials) (check on distribution alignment)
  • Administration Systems Analysis (check on
    operations alignment)

BOP Strategic alliance relationships
relationship management, contract negotiations,
etc. Question on interface/overlap?
3
Cascading Aligning Scorecards
Scorecards are cascaded and aligned through the
critical success factors
Enterprise Critical Success Factors (CSFs)
Enterprise Strategies
Enterprise Measures
Enterprise
Portfolio Process Objectives
Portfolio Process CSFs
Portfolio Process Measures
Tier II
Tier IIaGoals
Tier IIa CSFs
Tier IIaMeasures
Tier IIa
Tier II currently contains Product-Market
Portfolios (Financial Protection Wealth
Accumulation), Business Process Outsourcing,
Customer Care (Operations and Distribution),
Shared Services and Financial.Tier IIA currently
encompasses products (Term UL, WL, VUL, Annuity)
4
Enterprise -- Tier II Mapping
Identify enterprise critical success factors that
may be influenced at the Tier II level
Draft




New market development increasing value to
existing customers Customer refers to internal
customers operations distribution
High Level of InfluenceLower Level of Influence
5
Establishing Tier II Objectives
Draft
Enterprise critical success factors that are
highly influencable become Tier II
objectives additionally, there may be other
objectives which are aligned with the enterprise
scorecard
Product-Market Portfolio
Objectives 1) Meet portfolio ROE and earnings
growth goals 2) Ensure capital plans are in
place for new products and that products are
built with assumptions that the organization
can support 3) Develop products that deliver
value and are aligned to target customer segments
4) Identify and develop new markets and
increase value to existing customers5) Win
through people
Product-Market Balanced Scorecard
6
Product-Market Balanced Scorecard
Identify Tier II critical success factors and key
performance indicators for the objectives
Draft
Product-Market Portfolio
Objectives 1) Meet portfolio ROE and earnings
growth goals 2) Ensure capital plans are in
place for new products and that products are
built with assumptions that the organization can
support 3) Develop products that deliver value
and are aligned to target customer segments 4)
Identify and develop new markets and increase
value to existing customers5) Win through
people
7
Next Steps - Set Targets and Identify Tactics to
Reach Targets
Each measure should have a target (short term and
long term) and an identified initiative/tactic to
bridge the performance gap (current performance -
target performance)
8
Portfolio -- Product Mapping
Ability to Influence
A similar process may be undertaken to develop
Product manager objectives and scorecards aligned
with the portfolio
Product Manager Objectives 1) 2)3)
Product Manager Balanced Scorecard
9
Horizontal Alignment
The same process may be used to identify
objectives, critical success factors and
performance indicators for the other Tier II
areas. Additionally, the scorecards should be
aligned horizontally to ensure internal
requirements are met
Sample Product-Market requirements
Enterprise
  • Distribution
  • Cross-selling
  • of appointed reps (WA)
  • Sales per appointed rep (WA)
  • of B/D selling agreements / distribution
    outlets (WA)
  • Investments
  • Risk/Reward profile, earned rate (WA)
  • Shared Services
  • Timeliness and accuracy of projects (WA)
  • E-Commerce (WA)

Product-Market Portfolios
Business Process Outsourcing
Customer Care
Vertical Alignment
Operations
Distribution
Horizontal Alignment
10
Developing a Scorecard
A scorecard is typically developed in a 3-phased
approach
Tier II Current State
Conduct Interviews, Review Business Plans, etc.
Develop Draft Scorecard
Pre-Workshop
Confirm Critical Success Factors
Identify Performance Measures
Confirm Strategy
Workshop(s)
Refine Measures Establish Targets
DevelopImplementationPlan
Facilitated Session with future Scorecard Owner
and his/her direct reports or team
Post-Workshop
Write a Comment
User Comments (0)
About PowerShow.com