Introduction to Willis Towers Watson_FINAL

© 2016 Willis Towers Watson Plc. All rights reserved. Proprietary and Confidential.

Welcome to Willis Towers Watson


Guidelines and suggestions for using the corporate presentation

This presentation introduces Willis Towers Watson, our integrated approach and our strategic positioning, and includes high-level details about each part of our company. It is intended to be modular, and in most cases, it won’t be necessary to use the entire deck. (It takes well over 30 minutes to go through the entire presentation.) You are welcome to choose the slides that make the most sense for your audience. We recommend including slides 1 – 6 and slide 8, which provide an overview of Willis Towers Watson.

When choosing your slides, be aware that this presentation is global in nature, and some slides might not apply to your audience. For example, slide 7 may not correctly describe the process we use with your client, especially if the client is small, local or relies on us for limited services or products.

Similarly, if you are focusing on one segment of our business, you may choose to reduce the number of slides describing other segments. We do recommend using the first slide that describes each segment, however.

Supporting slides (appendix) are also optional.

© 2016 Willis Towers Watson Plc. All rights reserved. Proprietary and Confidential. 3

About Willis Towers WatsonOur distinct, connected perspective across talent, assets and ideas unlocks potential for our clients. While many just look at mitigating the downside, we see how a unified approach to people and risk is a path to growth.

Powered by market analytics and behavioral insight, our integrated teams reveal hidden value within the critical intersections of our clients’ organizations. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals.

A truly compelling combination

© 2016 Willis Towers Watson. All rights reserved. Proprietary and Confidential. For Willis Towers Watson and Willis Towers Watson client use only. 4

39,000 colleagues

in 120+ countries

Scale, diversity and financial strength:

$8.2 billion revenue

A deep history

dating back to

1828

Willis Towers Watson is uniquely positioned to see the connections between talent, assets and ideas, and how they can lead to strong performance for our clients.

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Corporate Risk and Broking

Human Capital and Benefits Exchange Solutions

Investment, Risk and Reinsurance

We are an integrated advisory, broking and solutions company organized around four business segments designed to meet our clients’ risk and people needs

Integrated offering

around people and risk



Our client value proposition is designed to help you turn managing risk and people into a path for growth

Breakthrough insights and deep capabilities Deep sector and industry expertise Data-driven insights powered by best-in-class

analytical technology capabilities

Exceptional client experiences Relationships rooted in trust A commitment to quality and simplicity in all

interactions Empowered, nimble and entrepreneurial colleagues

Leading-edge advisory, brokerage and technology solutions Holistic solutions to help you manage risk, reduce

cost and drive growth Exceptional transactional capabilities Reliable, intuitive technology platforms


Our integrated teams reveal hidden value within the critical intersections of our clients’ organizations

Teams from across our business segments work together to explore the frontiers of our field and ask unexpected questions that make new connections for you across people and risk.

Business segments are explicitly interconnected with geographies, ensuring you have ready access to the entirety of our expertise.

Together, they are responsible for delivering the best of our combined company.

Business segments Regions


Exchange Solutions

Human Capital and Benefits

Corporate Risk and Broking Great Britain

International

North America

Western Europe


A single client relationship director serves as your gateway to all we have to offer

Client relationship directors leverage the full power of Willis Towers Watson and link you to all of our capabilities and solutions.

Acting as your trusted guide, they will:

This model means that no two clients have an identical Willis Towers Watson experience. You get a tailored group of experts to help your organization execute a cohesive approach to both people and risk.

Listen to you and evaluate how we can fit into your strategy

Assemble the team and skills you need from across our organization

Collaborate with you to find the most appropriate solutions for your unique objectives

Help you execute them flawlessly


Our values are designed to ensure accountability to our clients in every interaction We have cultivated long-term client relationships, and many of our clients have been with us from the earliest days. Whether they came to us for brokerage or actuarial work, they were met with respect, a strong sense of advocacy and an emphasis on excellence. These values will continue to define our relationship with our clients, now and in the future.


Our Business Segments

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Corporate Risk and BrokingWe know how companies can unlock potential through effective risk management. We always start by gaining a better understanding of a client's unique risk profile. Then we craft tailored strategies that quantify, mitigate and transfer risk, taking advantage of our specialist industry experience and unparalleled market know-how. The result is a new way of embracing risk that drives superior results.

Corporate Risk and Broking (CRB) offers a broad range of risk advisory services that help unlock your organization’s potential

Risk Assessment

As the analytical broker, we combine high-quality data and scientific knowledge with the most innovative platforms to help you identify and quantify how risk impacts your firm’s strategic goals.


Risk Management and Advisory

We help you optimize your risk management strategies by creating effective and reliable risk mitigation solutions that help you solve your biggest risk challenges using leading-edge advisory, broking and technology solutions.

Risk is fundamental to everything we do in CRB. We help demystify it so you can have greater clarity in your decision making, feel more secure about your organization’s future, expand into new products and markets, and invest more wisely.

We understand that insurance matters most when things go wrong, which is why we are the only global broker that does not outsource its claim functions to third parties. This ensures your claims get paid in a full and timely manner.

Risk Transfer and Placement

We are focused on the best solution for you, not the most revenue for us, meaning that our priority is to tailor insurance programs to your company’s unique risk profile.

Claim Advocacy

Our market-leading expertise in alternative risk transfer, enterprise risk management and captive management, helps you optimize your risk financing and mitigation strategies.

Our objective modeling techniques help you: Understand your true risk tolerance Set appropriate limits and deductibles for

your insurance program Achieve better prices from carriers

Risk Management and AdvisoryRisk Assessment

Corporate Risk and Broking (CRB)


Our capabilities

We have over 1,500 employees worldwide dedicated to resolving claims in the best interests of our clients and ensuring that you receive exceptional claim management.

We design and place insurance programs and risk financing solutions to ensure your needs are met by the best markets with the most advantageous terms, premiums and service levels.

We aim to achieve unmatched collaboration around product innovation, policy wordings and overall solutions.

Claim AdvocacyRisk Transfer and Placement


Corporate Risk and Broking (CRB)

Our business consists of around 12,000 colleagues in over 90 countries, which allows us to access insurance capital from all over the world and place premiums of almost $25 billion each year.

We use groundbreaking financial, natural catastrophe and benchmarking models to support our deep expertise in program design.

Our wording experts, embedded into each client team, craft contracts around your requirements, ensuring your commercial interests are correctly represented, the opportunity for commercial dispute is minimized and the broadest coverage is available to you.

Willis Towers Watson leads the market in offering a 360° approach to cyber-protection. We help your organization adapt to a changing landscape of threats and legislation by building resilience into your cyber-infrastructures.

Why Willis Towers Watson


Human Capital and BenefitsHigh-performing institutions cultivate and grow talent, carefully balancing costs and rewards. From employee benefits to executive compensation, we take a rounded perspective based on leading-edge thinking, data, analytics and software, unearthing new ways to motivate people, foster well-being and implement solutions that work.

Human Capital and Benefits (HCB) focuses on developing workforce programs that balance rewards and costs


Talent and RewardsWe build organization, job and reward framework solutions that deliver the right return on investment and help you create a culture that motivates talent. Our HR software handles complex organization needs and delivers engaging employee experiences.

Technology and Administration Solutions

We provide complete administration solutions that support the needs of both participants and employers, with a focus on timely and accurate administration.

Retirement Our expertise in retirement program strategy, design and execution helps your organization meet its workforce needs.

Health and BenefitsWe use research, benchmarking tools and technology to gauge overall health benefit program efficiency, value and competitive positioning. With that information, we work with you to design high-performance programs and execute the placement of health and group benefit services.

Global Network GroupMultinational organizations face unique and complex human capital and benefit issues. To support them, we offer a dedicated team that consults to the global and regional headquarters of multinational companies on all aspects of their compensation and benefit programs.

Working as integral partners with you, we combine advisory services and technology to create an integrated end-to-end solution and a consistent experience, whether your organization is a multinational looking for a holistic approach to benefits and human capital or one focused on discrete solutions.


Program strategy, design and pricing Employee health and productivity Pharmacy, life and disability, and other benefits Vendor evaluation, selection and management Insurance placement Retiree health

Strategy and plan design Cost and risk management Actuarial, compliance, governance, administration De-risking Master trust products Defined contribution solutions Financial well-being

Health and BenefitsRetirement

Human Capital and BenefitsOur capabilities

Pension administration and outsourcing Flex administration outside North America Bulk lump sum administration

Rewards HR software products Leadership and talent Executive compensation Global compensation, benefit and employment

practice data Employee surveys/insights Communication and change management Digital engagement

Technology and Administrative SolutionsTalent and Rewards

Talent and rewards Health and benefits Retirement

Global Network Group



We serve as the global retirement actuary to more employers in the Global P&I 3000 than any other company.

We have the world’s largest and broadest practice in the talent and reward consulting business. We were the first executive compensation consultants to develop effective tools for assessing and

mitigating compensation program risk. Our ongoing research on benefit and reward practices

and policies has provided insights into emerging trends and issues for over two decades.

Our groundbreaking research in employee engagement and talent management provides insight into best practices across borders and industries.

Our HR software products are built on more than 100 years of experience solving the most complex HR issues for the world’s largest companies.

Our Global Network is the largest group in the industry to focus specifically on multinational issues.



Exchange SolutionsA changing health care landscape creates new opportunities. Using our insights into benefit best practices and a decade of experience running health care exchanges, we create innovative solutions based on leading technology platforms. We enable people to navigate expanded benefit options with confidence, and we help employers reduce costs, accelerate their benefit strategy and align it with total rewards and the employee value proposition.

Group Exchange

Health and Welfare (H&W) Outsourcing Traditional H&W outsourcing as well as Group

Exchange benefits administration for large employers

Robust technology platform: BenefitConnect

Exchange Solutions (ES) focuses on providing value and long-term sustainability for employers and all workforce populations


Consumer-Directed Accounts Account administration for account-based health

care and other plans (HRA, HSA, FSA) Supports more than 30 types of account

reimbursement plans Advanced security and compliance protocols

Employers want new options for delivering health benefits to the full range of their employee and retiree populations. We offer the full range of exchange services and administration – with leading technology, plan design and client service that draw on our long history of innovation.

Configurable “storefront” with employer-chosen benefits for active employees

Expansive choice of carriers and insurance products Personalized participant decision support Best practice consulting expertise BrightChoices offering sold through national and

regional brokers

Individual supplemental plans for Medicare-eligible retirees

Public qualified health plans and direct-from-carrier plans to pre-Medicare retirees and other populations

Participant education, decision support and guidance

Post-enrollment support and HRA administration

Individual Exchange

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Exchange SolutionsWhy Willis Towers Watson

Exchange Solutions is the most experienced exchange provider in the industry, with 10 years of operating experience, providing solutions for all populations and employer segments.

We own all components of our solution, from enrollment and administration platforms and consumer-directed account administration to integrated service centers that provide support for all of our exchange participants.

Exchange Solutions is the fastest-growing Willis Towers Watson business segment.

Our Individual Exchange is the largest and oldest exchange in the industry.

H&W Outsourcing is a leader on theGlobal 100 list of top outsourcing providers.

Exchange Solutions has a better than 95%client retention rate.

We offer a wide distribution through both Willis Towers Watson colleagues and third-party partners.


Investment, Risk and ReinsuranceOur sophisticated approach to risk helps clients free up capital. We work in close concert with investors, reinsurers and insurers to manage the equation between risk and return. Blending advanced analytics with deep institutional knowledge, we reveal new opportunities to maximize performance.

Investment, Risk and Reinsurance (IRR) provides a comprehensive suite of solutions to help clients manage and measure risk and capital


We work closely with clients to provide the consulting, capital market access, brokerage, software and investment advisory services they need to consistently and effectively manage risk and use it for competitive advantage.

Capital Markets and Advisory

One of the largest dedicated insurance advisory teams in the market that advises on the full array of strategic and financing alternatives available to clients

Investment Advisory ServicesExpert advice to improve investment outcomes for asset owners, using a broad and sophisticated framework for managing risk

Portfolio and Underwriting Services:Providing capacity to the insurance market through specialist underwriting teams to manage the investment of third-party capital

Reinsurance Advice and BrokingWillis Re — bringing insurance clients a superior understanding of how risk affects capital and financial performance, and advising on the best ways to manage extreme outcomes

Risk Consulting and Software (RCS)Using techniques and software solutions to help clients measure and manage risk and capital, grow revenue and create a competitive advantage

Wholesale Insurance BrokingProviding wholesale and specialist broking services to retail brokers worldwide, through Willis Towers Watson and London-based specialist broker Miller Insurance Services LLP


Delegated investment services Derivative hedging design and execution Management consultancy services relating to

investment processes for funds

Specialist investment banking services to the insurance sector, including: Strategic advisory, e.g., buy-side and sell-side M&A Insurance-linked security services Capital-raising transactions

Investment Advisory Services

Capital Markets and Advisory

Investment, Risk and ReinsuranceOur capabilities

Willis Re places over $11.5 billion of premium each year on behalf of over 750 insurance and reinsurance company clients worldwide.

Compliance and assurance services Pricing, financial and capital modeling M&A and corporate restructuring

Reinsurance Advice and Broking

Risk Consulting and Software (RCS)

Providing the full range of underwriting services to capital providers

Portfolio and Underwriting Services

Specialty — complex, large commercial risks Programs — delegated authority business Property & casualty — risk and advisory

Wholesale Insurance Broking



Willis Re is one of the world’s leading reinsurance advisors. In 2015, its 1,600 colleagues placed in excess of $11.5 billion of premium on behalf of more than 750 clients.

It draws on the expertise of the Willis Research Network — a network of over 50 academic institutions set up to develop dynamic and innovative solutions to the challenges of risk and resilience.

Our Investment practice has pioneered many of the asset/liability modeling techniques used today.

Our Investment practice stands apart from itscompetitors in thought leadership, with resources — such as our Thinking Ahead Institute — that competitors can’t match.


We are London’s largest wholesale broker. We have the world’s largest P&C actuarial consultancy. We conduct leading research on actuarial and insurance issues, including the industry’s

most comprehensive survey on predictive modeling practices to date. And our biennial global ERM survey is the largest in the insurance industry on this topic.

Appendix


Supporting slides

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Our design is the visual expression of our story, inspired by the idea of the “code”

Working across both people and risk gives us a unique perspective on your organization and allows us to see the critical intersections between talent, assets and ideas.

Our visual identity — the “code” — is the expression of this story. It embodies the connections we make that reveal hidden value and our ability to unlock your full potential.

It’s the formula for deciphering patterns. The insights that make information relevant. The opportunities we create for our clients’ organizations.


Our logo, typography, color palette, imagery and graphics work together to create our distinctive brand



Corporate Risk andBroking

Our complementary business segments provide us with scale, diversity and financial strength


43%

17%

5%

35%


Exchange Solutions

Note: Revenue figures are estimated

$8.2 billion revenue

Willis Towers Watson colleagues can be found all around the world


Our 39,000 colleagues work in integrated teams so you get the benefit of a unified approach to people and risk management.

Great Britain: 16%

North America: 36%

Western Europe: 18%

International: 30%

John J. HaleyJohn Haley is the CEO of Willis Towers Watson.Mr. Haley joined Watson Wyatt in 1977 and throughout his career served in a variety of roles including consulting actuary to several of the firm’s largest clients, manager of the Washington, D.C. consulting office and leader of the global Retirement practice. Mr. Haley was named CEO in 1998. Under his leadership, Watson Wyatt completed three historic mergers, in 2005, 2010 and 2016, which formed present-day Willis Towers Watson.Mr. Haley also serves on the board of directors of the U.S.-China Business Council and MAXIMUS, and served as a director of Hudson Global, Inc. He is a Fellow of both the Society of Actuaries and the Conference of Consulting Actuaries, and has served as a trustee of The Actuarial Foundation.

Mr. Haley has a B.S. in mathematics from Rutgers College and received a fellowship for two years of study at the Graduate School of Mathematics at Yale University.

Dominic CasserleyDominic Casserley is the President and Deputy CEO of Willis Towers Watson and also leads Investment, Risk and Reinsurance.Mr. Casserley joined the Willis Group in January 2013 as CEO and a member of the board of directors. Under his leadership, Willis focused on growing its global platform and enhancing its offering to companies to help them better quantify and proactively manage the ever-changing set of risks they face. Mr. Casserley joined Willis following a 29-year career at McKinsey & Company, a leading global management consulting firm, in the U.S., Asia and the U.K., where he led the firm’s Greater China Practice and its U.K. and Ireland Practice. He was also a member of the McKinsey Shareholders Council, the firm’s global board, since 1999 and for four years served as the Chairman of the Finance Committee of that board. At the time of his departure from McKinsey, he was leading the firm’s Corporate & Investment Banking practice globally.

Gene H. WickesGene H. Wickes leads Exchange Solutions at Willis Towers Watson. Mr. Wickes was an Executive Sponsor of the Willis Towers Watson integration team. Previously, he was the managing director for Towers Watson’s Benefits Group. Mr. Wickes has 37 years of experience consulting on retirement, actuarial, plan administration and other human resource issues. He previously served as a senior consultant and actuary with both Watson Wyatt Worldwide and Towers Perrin.

Mr. Wickes attended Brigham Young University, where he received a bachelor’s degree in mathematics and master’s degrees in mathematics and economics. He is a fellow of the Society of Actuaries and an enrolled actuary under ERISA.

Julie J. GebauerJulie Gebauer leads Human Capital and Benefits at Willis Towers Watson.Previously, Ms. Gebauer led Towers Watson’s Talent and Rewards business segment. During her 29 years with the company, she held a number of leadership roles, including head of the global workforce effectiveness and employee survey businesses.

Ms. Gebauer received a bachelor’s degree in mathematics from the University of Nebraska, where she was honored as a Chancellor’s Scholar. She is a member of Phi Beta Kappa and a Fellow of the Society of Actuaries. She was inducted into the YWCA’s Academy of Women Achievers. She is a coauthor of the book, Closing the Engagement Gap: How Great Companies Unlock Employee Potential for Superior Results.

Timothy D. WrightTim Wright leads Corporate Risk and Broking at Willis Towers Watson. Previously, Mr. Wright served as CEO of Willis International, which comprised all of the Willis Group’s operations outside the U.K. and North America. In this role, he also oversaw the relationship with and subsequent acquisition of leading French insurance broker Gras Savoye. Additionally, Mr. Wright launched and ran Willis’ Human Capital and Benefits practice across the Group. Mr. Wright joined Willis in 2008 as the Group’s COO, and was a member of the Group’s Operating Committee since that time.

Before joining Willis, Mr. Wright led the Financial Services practice of Bain & Company in London and was previously the managing partner of Booz Allen Hamilton, U.K.

Mr. Wright holds a Ph.D. in international law from Cambridge University and an LLB in law from Manchester University.

Leadership biographies — business lines


Nicolas Aubert Nicolas Aubert leads Great Britain at Willis Towers Watson. Mr. Aubert also remains as the CEO of Willis Limited, the Willis Group’s principal U.K.-regulated entity.

Previously, Mr. Aubert served as the CEO of Willis Great Britain. Prior to joining Willis, he served as the COO of American International Group (AIG) in Europe, the Middle East and Africa, and formerly as the managing director of AIG in the U.K. He joined AIG in June 2002 to lead AIG France, and after served in various other senior management positions including managing director of Southern Europe. Prior to AIG, Mr. Aubert held various leadership roles at ACE, CIGNA and GAN, and started his career at GENERALI.

Mr. Aubert holds specialized master’s degrees in insurance law (DESS Assurances) from Pantheon-Sorbonne University of Paris and Institut des Assurances de Paris (Universite Paris-Dauphine), and an M.B.A. from the French High Insurance Studies Center (CHEA).

Adam Garrard Adam Garrard leads the International business at Willis Towers Watson. Mr. Garrard spent over 20 years at Willis Group in a variety of senior roles worldwide. Between 2012 and 2015, he served as the regional CEO of Willis Asia, based in Singapore, leading Willis’ strategy in high-growth markets in the region. Prior to this, he held regional CEO roles in Continental Europe and Australasia. During his time in Asia, he also spent 18 months in Shanghai setting up Willis’ China operation.

Mr. Garrard has a bachelor’s degree in business studies from De Montfort University.

Carl Hess Carl Hess co-leads North America at Willis Towers Watson. Mr. Hess served as managing director, the Americas, of Towers Watson beginning in February 2014, and previously served as the managing director of Towers Watson’s Investment business since January 2010. Prior to that, he worked in a variety of roles over 20 years at Watson Wyatt, lastly as global practice director of Watson Wyatt’s Investment business.

Mr. Hess is a Fellow of the Society of Actuaries and the Conference of Consulting Actuaries, and a Chartered Enterprise Risk Analyst. He has a B.A. cum laude in logic and language from Yale University.

Todd J. Jones Todd Jones co-leads North America at Willis Towers Watson. Previously, Mr. Jones served as CEO of Willis North America and was a member of the Willis Group Operating Committee. He also served as president and board member of The Willis Foundation, a nonprofit corporation affiliated with Willis Group Holdings. From 2010 to 2013, Mr. Jones served as president of Willis North America, and prior to that, he was the national partner for the Northeast U.S. region. Mr. Jones originally joined Willis in 2003 as the North America practice leader for Willis’ Executive Risks practice, overseeing its professional liability offerings.Before joining Willis, Mr. Jones held various leadership roles in the insurance industry. Before that, he was a financial analyst and corporate banker for a regional bank that is now part of Wells Fargo.

Mr. Jones graduated from Wake Forest University and earned his M.B.A. from the Stern School of Business at New York University.

Paul Morris Paul Morris leads Western Europe at Willis Towers Watson. Previously, Mr. Morris served as managing director for Towers Watson Europe, the Middle East and Africa, and before that was director for International Consulting Services. Mr. Morris joined The Wyatt Company in 1988. Following the establishment of the global Watson Wyatt Worldwide alliance in 1995, he served as a senior consultant of Watson Wyatt Partners from 1995 through 1999 and became a partner in 1999.

Mr. Morris is a Fellow of the Society of Actuaries and a member of the Institute of Actuaries, and has a B.A. in applied mathematics from Harvard College and an M.S. in applied mathematics from Harvard Graduate School of Arts and Sciences.

Leadership biographies — regions


Introduction to Willis Towers Watson_FINAL

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