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Information rich, knowledge 
poor 
Overcoming insurer’s data 
conundrum 
November 2014
Contents 
Key takeaways 3 
State of the industry: Insurers are still information rich, knowledge poor 4 
Executing the blueprint 8 
The road ahead 17 
Contacts 19 
2 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
Key takeaways 
State of the 
Industry 
• Realizing data as a strategic 
corporate asset is a key 
differentiator for sustained 
growth, efficiency and 
compliance. 
• However, current data models 
are siloed, outdated and too 
narrow to capitalize on modern 
data management and 
analytics. 
Develop a 
blueprint 
• To surmount barriers to 
enterprise-wide data 
management (EDM) insurers 
should develop a blueprint - a 
flexible roadmap to balance 
short-term objectives and long-term 
vision. 
Execute the 
blueprint 
 Assess maturity of data management 
capabilities at the start, as well as 
periodically, to plan next steps and track 
progress 
 Secure complete endorsement of top 
executives and execute change 
management 
 Identify a data champion to lead the 
initiative from the front 
 Identify the business unit to initially 
champion the EDM, in line with 
overarching enterprise priorities 
 Establish and socialize robust enterprise-wide 
data governance framework 
 Identify talent gaps and consider third 
parties or non-industry sources while 
incubating internal capabilities 
 Ensure full alignment and compliance with 
regulations and data privacy standards 
3 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
State of the industry: Insurers are still 
information rich, knowledge poor 
“By prevailing over all obstacles and distractions, one may unfailingly arrive 
at his chosen goal or destination..” 
- Christopher Columbus
Enabling information as a strategic asset is emerging 
as an affirmative obligation 
Generating advanced insights from 
data is now a key differentiator for 
insurers 
There is an urgency to harvest 
and harness the valuable 
insights embedded in 
exponentially growing data 
sources, speed and volumes 
Regulators increasingly focus 
on EDM as a foundational 
element of effective 
compliance reporting 
The convergence of dynamics suggest that effective enterprise-wide data management 
is likely becoming the key success factor for insurers. 
5 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
Many insurers are still information rich, knowledge 
poor 
Data is the ‘life blood’ of insurers, but realizing its full value remains elusive 
Challenges include: 
Siloed, legacy 
technology 
architecture 
Fragmented 
governance 
processes persist 
Shortage of 
appropriately 
skilled 
professionals, 
both in-house 
and externally 
Outdated decision-making 
frameworks 
on how data is 
managed and 
consumed 
Insurers have to adopt a holistic approach with a long-term vision instead of tweaking 
existing systems and business models to elevate data as a strategic asset. 
6 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
A blueprint can help, but the path is flexible 
One size does not fit all 
The blueprint should align with the firms strategic priorities and balance short-term 
objectives and long-term vision. 
7 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
Executing the blueprint 
“The possibilities are unlimited once you decide to act and not react.” 
- George Bernard Shaw
Enterprise Data Management (EDM) maturity 
assessment helps determine a starting point 
Full master data 
integration to business 
processes and system for 
analytics 
Master data management 
implementation with 
harmonization rules for 
standardized data 
domains 
Processes exist for critical 
areas; single version of 
truth for critical master 
data domains 
IT and business 
representation in 
architecture decisions; 
enterprise-wide consistent 
data models 
Integration at business-unit 
level; changes to 
architecture goes through 
approval process 
Local IT team owns 
physical and logical data 
models; limited integration 
of tools 
Enterprise-wide data 
quality initiatives with 
clear ownership; metrics 
to measure progress 
Consistent data quality 
processes, standards, and 
tools; centralized data 
quality team 
Data profile and baselines 
established; data 
cleansing on critical areas 
No formal team recognized 
to own the architecture; 
point solutions 
Data architecture 
No consistent data 
management processes; 
multiple versions of truth 
Master data 
management 
Enterprise-wide 
standards; metrics to 
assess performance 
Cross-functional data 
owners and data stewards 
in a formal data 
management organization; 
consistent processes 
Limited owners; 
governance policies, 
processes, and standards 
exist for critical areas 
No awareness; no formal 
data owners or data 
stewards 
Data governance 
Advanced 
Defined 
and 
Predictive 
Evolving / 
Proactive 
Controlled 
No data quality processes 
or standards; no data 
profile or baseline 
Data quality 
Building an EDM is a multi-year journey with several maturity stages. Progression will 
enable advanced insights that can drive decisions from operational to strategic. 
9 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
A supportive ‘tone at the top’ and alliance across the 
enterprise is foundational to success 
Securing executive-and 
board-level 
endorsements are 
the first steps 
After establishing ‘tone at the top’ change 
management initiatives are essential 
Conduct workshops that unite business and IT leaders and middle management across the company 
Set timelines and 
priorities; incorporate 
ROI into the blueprint 
Communicate and 
prioritize short- and long-term 
goals of the program 
Understand individual 
business unit and function 
requirements to incorporate 
into the blueprint 
Absent of high-level backing, data management initiatives will potentially stall or fail, as 
line of business and functional teams independently assess the value and cost of 
participation and compliance. 
10 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
Identify and empower a data champion to kick-start 
and drive the initiative forward 
Data Champion 
Often Chief Data Officer 
(CDO) 
Role 1 
Co-ordinate the data 
initiative between diverse 
business operations, 
functions, and IT 
Role 2 
Identify, shape, and 
implement data 
management strategies, 
standards, procedures, 
governance policies, and 
enabling tools 
Role 3 
Elicit funding for all data 
initiatives 
The data champion (whether or not designated as the CDO) should be an influential 
leader across the circles, empowered to execute the vision and plan. 
11 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
Identify initial business to position data strategically; 
align with firms’ strategic priorities 
Optimally Positioned Business Functions Potential Strategic Priority 
Holistic Customer View 
Cost Control 
Pricing/ Product 
Development 
Marketing 
Finance 
Uses data from all business lines, social media, and external-sources 
for information on life stage, demographic, customer 
sentiment to capitalize on customer relationships 
Uses transactional data from across all lines and functions, 
with minimal errors and lag time to generate company’s 
books, records and additional analysis 
Actuarial 
& Under-writing 
Uses products and claims related data from each of the 
firms business operations, to maintain pricing discipline and 
build better products 
Perhaps opt for a preliminary strategy that is low in complexity or limited in scope, but 
high in value – an ‘easy win’ that could potentially foster greater buy-in among doubters 
in the organization. 
12 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
Data champion establishes data quality and 
governance controls for enterprise-wide deployment 
Common 
language 
Continuous 
communication 
Enabling tools 
& technology 
Establish firm-wide standards for identification, definition, 
adoption and maintenance of meanings, values, descriptions, 
and uses for data elements across all business functions 
Ownership and governance of data must be a cohesive 
alignment between business and IT functions 
CDO and IT collaborate to define a target technical environment 
and enabling tools to operationalize data storage, aggregation, 
accessibility, investigation, modeling, reporting and visualization 
Effective and productive communication among all stakeholders along with robust 
standardization of processes and terminology will potentially multiply the return on 
investment. 
13 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
Identify talent gaps and implement innovative 
solutions 
Talent Shortage 
Challenge Solution 
Talent pool with specialized data-related skills 
is low, while demand is rising across all 
industries and geographies 
Dearth of skills is exacerbated by a general 
lack of understanding for the varied 
competencies required to reach advanced 
maturity stages 
Leverage skill-rich third parties to bridge 
the immediate competency gaps while 
the company incubates its own internal 
capabilities 
Design a multi-phase training program to 
cultivate additional teams of solution 
providers, as well as to help socialize 
new processes and infrastructure among 
the existing talent pool 
Data scientists are the pilots who fly the plane, and their shortage is a real challenge 
which requires innovative solutions. 
14 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
And, don’t forget the regulators and the villains… 
Legacy system modernization projects must be adapted to 
accommodate regulation-driven data aggregation and 
processing requirements 
Business and IT functions must collaborate with the CDO 
to ensure flexibility and capability to meet compliance 
obligations 
Insurers will be required to demonstrate both financial 
benefits of ‘opting in’ and the ongoing security of their 
disclosed PII to ensure data privacy 
As cybercrime transforms, insurers must remain vigilant 
and proactive in development and maintenance of secure 
data environments 
Business and IT functions must collaborate closely with one another and with the CDO/ 
DMO to help ensure that the flexibility and capability needed to meet external 
compliance and data privacy obligations is put in place. 
15 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
The Road Ahead 
“It's difficult to imagine the power that you're going to have when so many 
different sorts of data are available.” 
-Tim Berners-Lee
The road ahead 
“It's difficult to imagine the power that you're going to have when so many 
different sorts of data are available.” -Tim Berners-Lee 
Information Rich Knowledge Rich 
Data 
? 
? 
? ? 
Data 
Best Practices 
 Develop a blueprint 
 Assess the process 
maturity 
 Identify data 
champions 
 Get executive buy-in 
 Identify pilot function – 
align with strategic 
priorities 
 Build and socialize 
data governance 
 Ensure compliance 
17 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
Download now: Information rich, knowledge poor 
Explore for yourself the challenges and potential solutions to mastering 
information management. 
Download 
Share your thoughts with 
us by tagging and following 
@DeloitteFinSvcs 
18 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
Contacts 
Executive Sponsor 
Bertha Fortney 
Director 
Market Development 
Deloitte Services LP 
+1 203 918 3920 
bfortney@deloitte.com 
Industry leadership 
Gary Shaw 
U.S. Insurance Leader 
Deloitte LLP 
+1 973 602 6659 
gshaw@deloitte.com 
Deloitte Center for Financial Services 
Jim Eckenrode 
Executive Director 
Deloitte Center for Financial Services 
Deloitte Services LP 
+1 617 585 4877 
jeckenrode@deloitte.com 
Sam Friedman 
Research Leader, Insurance 
Deloitte Center for Financial Services 
Deloitte Services LP 
+1 212 436 5521 
samfriedman@deloitte.com 
Subject Matter Specialists 
Marc Zimmerman 
Director and Co-Leader 
FSI Analytics & Information Management Practice 
Deloitte Consulting LLP 
+1 203 905 2826 
mzimmerman@deloitte.com 
Arun Prasad 
Principal 
Deloitte Consulting LLP 
+1 212 618 4561 
aprasad@deloitte.com 
Jojy Mathew 
Principal 
Deloitte Consulting LLP 
+1 609 520 2362 
jojymathew@deloitte.com 
Andrew Liakopoulos 
Principal 
Deloitte Consulting LLP 
+1 312 486 2777 
aliakopoulos@deloitte.com 
19 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
About Deloitte 
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. 
DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see 
www.deloitte.com/about for a detailed description of DTTL and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte 
LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. 
Copyright © 2014 Deloitte Development LLC. All rights reserved. 
36 USC 220506 
Member of Deloitte Touche Tohmatsu Limited

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Information Rich, Knowledge Poor: Overcoming Insurers’ Data Conundrum

  • 1. Information rich, knowledge poor Overcoming insurer’s data conundrum November 2014
  • 2. Contents Key takeaways 3 State of the industry: Insurers are still information rich, knowledge poor 4 Executing the blueprint 8 The road ahead 17 Contacts 19 2 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 3. Key takeaways State of the Industry • Realizing data as a strategic corporate asset is a key differentiator for sustained growth, efficiency and compliance. • However, current data models are siloed, outdated and too narrow to capitalize on modern data management and analytics. Develop a blueprint • To surmount barriers to enterprise-wide data management (EDM) insurers should develop a blueprint - a flexible roadmap to balance short-term objectives and long-term vision. Execute the blueprint  Assess maturity of data management capabilities at the start, as well as periodically, to plan next steps and track progress  Secure complete endorsement of top executives and execute change management  Identify a data champion to lead the initiative from the front  Identify the business unit to initially champion the EDM, in line with overarching enterprise priorities  Establish and socialize robust enterprise-wide data governance framework  Identify talent gaps and consider third parties or non-industry sources while incubating internal capabilities  Ensure full alignment and compliance with regulations and data privacy standards 3 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 4. State of the industry: Insurers are still information rich, knowledge poor “By prevailing over all obstacles and distractions, one may unfailingly arrive at his chosen goal or destination..” - Christopher Columbus
  • 5. Enabling information as a strategic asset is emerging as an affirmative obligation Generating advanced insights from data is now a key differentiator for insurers There is an urgency to harvest and harness the valuable insights embedded in exponentially growing data sources, speed and volumes Regulators increasingly focus on EDM as a foundational element of effective compliance reporting The convergence of dynamics suggest that effective enterprise-wide data management is likely becoming the key success factor for insurers. 5 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 6. Many insurers are still information rich, knowledge poor Data is the ‘life blood’ of insurers, but realizing its full value remains elusive Challenges include: Siloed, legacy technology architecture Fragmented governance processes persist Shortage of appropriately skilled professionals, both in-house and externally Outdated decision-making frameworks on how data is managed and consumed Insurers have to adopt a holistic approach with a long-term vision instead of tweaking existing systems and business models to elevate data as a strategic asset. 6 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 7. A blueprint can help, but the path is flexible One size does not fit all The blueprint should align with the firms strategic priorities and balance short-term objectives and long-term vision. 7 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 8. Executing the blueprint “The possibilities are unlimited once you decide to act and not react.” - George Bernard Shaw
  • 9. Enterprise Data Management (EDM) maturity assessment helps determine a starting point Full master data integration to business processes and system for analytics Master data management implementation with harmonization rules for standardized data domains Processes exist for critical areas; single version of truth for critical master data domains IT and business representation in architecture decisions; enterprise-wide consistent data models Integration at business-unit level; changes to architecture goes through approval process Local IT team owns physical and logical data models; limited integration of tools Enterprise-wide data quality initiatives with clear ownership; metrics to measure progress Consistent data quality processes, standards, and tools; centralized data quality team Data profile and baselines established; data cleansing on critical areas No formal team recognized to own the architecture; point solutions Data architecture No consistent data management processes; multiple versions of truth Master data management Enterprise-wide standards; metrics to assess performance Cross-functional data owners and data stewards in a formal data management organization; consistent processes Limited owners; governance policies, processes, and standards exist for critical areas No awareness; no formal data owners or data stewards Data governance Advanced Defined and Predictive Evolving / Proactive Controlled No data quality processes or standards; no data profile or baseline Data quality Building an EDM is a multi-year journey with several maturity stages. Progression will enable advanced insights that can drive decisions from operational to strategic. 9 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 10. A supportive ‘tone at the top’ and alliance across the enterprise is foundational to success Securing executive-and board-level endorsements are the first steps After establishing ‘tone at the top’ change management initiatives are essential Conduct workshops that unite business and IT leaders and middle management across the company Set timelines and priorities; incorporate ROI into the blueprint Communicate and prioritize short- and long-term goals of the program Understand individual business unit and function requirements to incorporate into the blueprint Absent of high-level backing, data management initiatives will potentially stall or fail, as line of business and functional teams independently assess the value and cost of participation and compliance. 10 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 11. Identify and empower a data champion to kick-start and drive the initiative forward Data Champion Often Chief Data Officer (CDO) Role 1 Co-ordinate the data initiative between diverse business operations, functions, and IT Role 2 Identify, shape, and implement data management strategies, standards, procedures, governance policies, and enabling tools Role 3 Elicit funding for all data initiatives The data champion (whether or not designated as the CDO) should be an influential leader across the circles, empowered to execute the vision and plan. 11 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 12. Identify initial business to position data strategically; align with firms’ strategic priorities Optimally Positioned Business Functions Potential Strategic Priority Holistic Customer View Cost Control Pricing/ Product Development Marketing Finance Uses data from all business lines, social media, and external-sources for information on life stage, demographic, customer sentiment to capitalize on customer relationships Uses transactional data from across all lines and functions, with minimal errors and lag time to generate company’s books, records and additional analysis Actuarial & Under-writing Uses products and claims related data from each of the firms business operations, to maintain pricing discipline and build better products Perhaps opt for a preliminary strategy that is low in complexity or limited in scope, but high in value – an ‘easy win’ that could potentially foster greater buy-in among doubters in the organization. 12 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 13. Data champion establishes data quality and governance controls for enterprise-wide deployment Common language Continuous communication Enabling tools & technology Establish firm-wide standards for identification, definition, adoption and maintenance of meanings, values, descriptions, and uses for data elements across all business functions Ownership and governance of data must be a cohesive alignment between business and IT functions CDO and IT collaborate to define a target technical environment and enabling tools to operationalize data storage, aggregation, accessibility, investigation, modeling, reporting and visualization Effective and productive communication among all stakeholders along with robust standardization of processes and terminology will potentially multiply the return on investment. 13 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 14. Identify talent gaps and implement innovative solutions Talent Shortage Challenge Solution Talent pool with specialized data-related skills is low, while demand is rising across all industries and geographies Dearth of skills is exacerbated by a general lack of understanding for the varied competencies required to reach advanced maturity stages Leverage skill-rich third parties to bridge the immediate competency gaps while the company incubates its own internal capabilities Design a multi-phase training program to cultivate additional teams of solution providers, as well as to help socialize new processes and infrastructure among the existing talent pool Data scientists are the pilots who fly the plane, and their shortage is a real challenge which requires innovative solutions. 14 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 15. And, don’t forget the regulators and the villains… Legacy system modernization projects must be adapted to accommodate regulation-driven data aggregation and processing requirements Business and IT functions must collaborate with the CDO to ensure flexibility and capability to meet compliance obligations Insurers will be required to demonstrate both financial benefits of ‘opting in’ and the ongoing security of their disclosed PII to ensure data privacy As cybercrime transforms, insurers must remain vigilant and proactive in development and maintenance of secure data environments Business and IT functions must collaborate closely with one another and with the CDO/ DMO to help ensure that the flexibility and capability needed to meet external compliance and data privacy obligations is put in place. 15 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 16. The Road Ahead “It's difficult to imagine the power that you're going to have when so many different sorts of data are available.” -Tim Berners-Lee
  • 17. The road ahead “It's difficult to imagine the power that you're going to have when so many different sorts of data are available.” -Tim Berners-Lee Information Rich Knowledge Rich Data ? ? ? ? Data Best Practices  Develop a blueprint  Assess the process maturity  Identify data champions  Get executive buy-in  Identify pilot function – align with strategic priorities  Build and socialize data governance  Ensure compliance 17 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 18. Download now: Information rich, knowledge poor Explore for yourself the challenges and potential solutions to mastering information management. Download Share your thoughts with us by tagging and following @DeloitteFinSvcs 18 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 19. Contacts Executive Sponsor Bertha Fortney Director Market Development Deloitte Services LP +1 203 918 3920 bfortney@deloitte.com Industry leadership Gary Shaw U.S. Insurance Leader Deloitte LLP +1 973 602 6659 gshaw@deloitte.com Deloitte Center for Financial Services Jim Eckenrode Executive Director Deloitte Center for Financial Services Deloitte Services LP +1 617 585 4877 jeckenrode@deloitte.com Sam Friedman Research Leader, Insurance Deloitte Center for Financial Services Deloitte Services LP +1 212 436 5521 samfriedman@deloitte.com Subject Matter Specialists Marc Zimmerman Director and Co-Leader FSI Analytics & Information Management Practice Deloitte Consulting LLP +1 203 905 2826 mzimmerman@deloitte.com Arun Prasad Principal Deloitte Consulting LLP +1 212 618 4561 aprasad@deloitte.com Jojy Mathew Principal Deloitte Consulting LLP +1 609 520 2362 jojymathew@deloitte.com Andrew Liakopoulos Principal Deloitte Consulting LLP +1 312 486 2777 aliakopoulos@deloitte.com 19 Copyright © 2014 Deloitte Development LLC. Deloitte Center for Financial Services | Information rich, knowledge poor | @DeloitteFinSvcs | All rights reserved.
  • 20. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a detailed description of DTTL and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright © 2014 Deloitte Development LLC. All rights reserved. 36 USC 220506 Member of Deloitte Touche Tohmatsu Limited