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David Schiff

Partner, Hong Kong
Advises financial institutions on a broad range of distribution, marketing, sales, and growth issues

About David

David advises global financial-services companies—including life- and property-and-casualty-insurance companies, wealth-management firms, and banks—on a variety of growth issues. These include growth strategy, multichannel distribution, new-business and -channel building, large-scale marketing and sales programs, and customer life-cycle management and loyalty. He also serves insurance clients more broadly on issues such as strategy, organization, distribution, service operations, marketing, and sales.

David leads McKinsey’s insurance-distribution work globally and leads the firm’s proprietary affluent and high-net-worth consumer insights across insurance and wealth management.

Examples of David’s recent client engagements include the following:

  • overhauling the consumer-segmentation, targeting, and go-to-market approach for a leading financial-services digital attacker, leading to more than 50 percent year-over-year growth
  • creating the five-year-and-longer strategy for a leading multiline insurance carrier to drive more than $200 million in incremental annual new premiums written
  • creating the strategy, developing the business case, and designing the pilot program for a remote advice center for a large life-insurance and wealth-management institution worth more than $100 million a year in run-rate incremental profit
  • developing a new distribution strategy, including identification, prioritization, and creation of a road map and pilot plan for new distribution tactics and channel entry, for a large insurance manufacturer to drive 20–25 percent revenue growth over five years,
  • developing a leading global entertainment and hospitality company’s approach to new-customer engagement, loyalty strategy, and direct marketing , including new-customer identification, consumer optimization, and marketing campaigns, to improve targeting dramatically and create efficiencies of more than $2 billion in marketing spend

Before joining McKinsey, David worked for a global hotel chain and credit-card company (initially for the vice chairman and subsequently for the president of the US consumer sector) on a range of customer-marketing, customer-engagement, and digital issues.

Published work

What insurers can learn from China’s continuing COVID-19 recovery,” McKinsey & Company, June 2020

Life insurance in China: Four priorities to transform the agency channel,” McKinsey & Company, September 2019

The insurance agency of the future: Building a digital service model,” McKinsey & Company, November 2018

Wholesale insurance distribution: Eight levers to unlock productivity,” McKinsey & Company, August 2018

Jonathan Gordon, David Schiff, and Jill Zucker, “How wealth advisors can capture money in motion,”, June 8, 2017

“Remote advice in life insurance: A new route to the customer,” McKinsey & Company, October 2016

Key trends in digital wealth management—and what to do about them,” McKinsey & Company, October 2016


Northwestern University
BA, economics