Welcome to Visions for the Future and Austin, Texas Ron Wright CEO, Texas Mutual Insurance Company

Welcome to

Visions for the Futureand

Austin, Texas

Ron Wright

CEO, Texas Mutual Insurance Company

Thanks for coming!

•Visions for the Future– A Perspective from Policy, Claims & Legal

• Great theme!– We will spend all our time there

Conference Theme

The Future

• Rarely accurately predicted• “Trying to predict the future is like

driving down a country road at night, with no lights, while looking out the back window.” –Peter Drucker

The Future

• “The only thing we know about the future, is that it will be different.” –Peter Drucker

• The challenge is early recognition…….

……Of what is already occurring

Challenges for AASCIF members

• Rising Costs– Medical– Other

• Declining Revenue– Payroll– Competition

Challenges for AASCIF members• Medical

Management• Uncertain Legal

Environment• Uncertain

Regulatory Environment

Challenge for State and Canadian Funds

• How to maintain or strengthen position in tomorrow’s environment– Must succeed today– Must be prepared to compete tomorrow

• “The best way to predict the future is to create it” – Peter Drucker

Workshop Objectives

• Share Information• Provide insights for…

– Managing today– Confronting tomorrow

Information and Insights• National Workers’ Compensation Overview

– Bruce Hockman - Towers Watson

• CEO Summit– Lanny Hubbard, Tom Phelan, Ken Ross

• Medical Cost Containment Panel– Dr. Tsourmas, Scott Brener, Shannon Pounds

• Workshop Sessions

Remember

• State Funds outperform private industry

Workers Compensation State Funds; Evolution of a Competitive Source

Conning Research and Consulting

Insurance Journal October 21, 2009

But also remember…

• “If you have seen one state fund……you have seen ONE STATE FUND!”

Thank you!

Enjoy the conference!