Transcript PowerPoint 簡報 - Cathay Life Insurance Viet Nam

MONTHLY REPORT
July, 2011
Planning Division
Howard Wang
29 July. 2011
1
Engaged Project This Month
 Market information updated
 Analysis of Persistency
 Persistency VS. Premium Collecting
Efficiency
 Auto Pay Promotion Plan
 General Agency System
 2011 Promotion Campaign
2
Market News
Vietnam insurance grows 20.3% to June
Despite economic difficulties, Vietnam’s
insurance market still surged 20.3% in the
first half of the year against the same
period in 2010.
The 15.9% growth rate of life insurance in
H1 this year was higher than the rate of
14.4% in the same period last year.
3
Market News
Manulife Vietnam has opened the 2nd GA in HP
Manulife Vietnam has opened the second
GA in Hai Phone in the middle of July,
since then they confirmed to providing the
best service and most conveniences to
customers.
4
Engaged Project This Month
 Market information updated
 Analysis of Persistency
 Persistency VS. Premium Collecting
Efficiency
 Auto Pay Promotion Plan
 General Agency System
 2011 Promotion Campaign
5
Analysis of Persistency
Persistency by Month
Persistency
80.0%
Accumulated Persistency
Surrender and others
60.0%
Suspension
59.5%
60.0%
40.0%
45.4% 40.0%
39.3%
26.4%
53.7%
41.2%
20.0%
20.0%
19.9%
18.6%
0.0%
20
10
07
20
10
08
20
10
09
20
10
10
20
10
11
20
10
12
20
11
01
20
11
02
20
11
03
20
11
04
20
11
05
20
11
06
0.0%
 Persistency is decreasing.
07
08
09
10
11
12
01
02
03
04
05
06
0
0
0
0
0
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
20
20
20
20
20
20
20
20
20
20
20
20
 Surrender is higher.
6
Analysis of Persistency
Persistency by Branch
HCM
80.0%
HN
DN
CT
57.9%
60.0%
53.3%
53.2%
53.1%
47.3%
44.0%
34.3%
40.0%
39.9%
20.0%
06
20
11
05
20
11
04
20
11
03
20
11
02
20
11
01
20
11
12
20
10
11
20
10
10
20
10
09
20
10
08
20
10
20
10
07
0.0%
 Persistency of DN is increasing.
7
Analysis of Persistency
Persistency by Branch
Surrender and others-HCM
Suspension-HN
60.0%
60.0%
40.0%
Surrender and others-HN
Suspension-HCM
32.8%
51.6%
42.1% 40.0%
22.9%
13.8% 20.0% 24.0%
20.0%
13.5%
9.3%
07 008 009 010 011 012 101 102 103 104 105 106
0
1
1
1
1
1
1
1
1
1
1
1
1
20 20 20 20 20 20 20 20 20 20 20 20
20
10
07
20
10
08
20
10
09
20
10
10
20
10
11
20
10
12
20
11
01
20
11
02
20
11
03
20
11
04
20
11
05
20
11
06
0.0%
0.0%
 Suspension rate of HCMC is higher.
 Surrender rate of HN is higher.
8
Analysis of Persistency
Persistency by Branch
Surrender and others-DN
Suspension-DN
Surrender and others-CT
60.0%
60.0%
40.0% 32.2%
40.0%
38.7%
30.1%
23.8%
20.0% 27.9%
Suspension-CT
19.7% 20.0%
16.7%
12.2%
20
10
07
20
10
08
20
10
09
20
10
10
20
10
11
20
10
12
20
11
01
20
11
02
20
11
03
20
11
04
20
11
05
20
11
06
0.0%
0.0%
201102
201103
201104
201105
201106
 Suspension rate of DN and CT is higher.
9
Analysis of Persistency
◆Suspension:
1. Know the reason why customer let his policy be
suspended
2. Persuade customer to reinstate
◆Surrender:
1. Demand analysis of customer
 There is a surrender value after 2 policy years for
new products from 2011
 Efficiency bonus is already related to persistency
 In the future, promotion, assessment, incentives and
GA system will connected with persistency
10
Engaged Project This Month
 Market information updated
 Analysis of Persistency
 Persistency VS. Premium Collecting
Efficiency
 Auto Pay Promotion Plan
 General Agency System
 2011 Promotion Campaign
11
Persistency VS. Prem. Collecting Efficiency
Persistency VS. Prem. Collecting Efficiency of 60 days
100.0%
80.0%
60.0%
40.0%
82.7%
New case
Verified efficiency
Old case
Persistency
63.0%
53.7%
53.5%
83.6%
66.7%
49.4%
41.2%
20.0%
0.0%
04
05
06
07
08
09
10
11
12
01
02
03
0
0
0
0
0
0
0
0
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
20
20
20
20
20
20
20
20
20
20
20
20
 Persistency and New case efficiency are closed
New case efficiency is leading target of persistency
12
Persistency VS. Prem. Collecting Efficiency
◆In the future, improving prem. collecting efficiency of
new case to increase persistency
 Having Policy Owner Convention to increase
willingness to pay the premium
 To establish Service Agent System to enhance
premium collection from other provinces
 Having Auto Pay Promotion Plan to increase prem.
collecting efficiency
13
Engaged Project This Month
 Market information updated
 Analysis of Persistency
 Persistency VS. Premium Collecting
Efficiency
 Auto Pay Promotion Plan
 General Agency System
 2011 Promotion Campaign
14
Auto Pay Promotion Plan
◆Purpose:
1. Used to develop a transfer to the agents, company
will focus on the new contracts first
2. To clarify the concept of agency side by education
guidance in the beginning
Time Interval Plan
May
June
July
Aug.
Step.
Oct.
Nov.
Incentive plan of Customer and Collector
(new + old cases)-Premium Dept.
Education
Guidance-CS
Regional incentive
10~11 WKM
15
Engaged Project This Month
 Market information updated
 Analysis of Persistency
 Persistency VS. Premium Collecting
Efficiency
 Auto Pay Promotion Plan
 General Agency System
 2011 Promotion Campaign
16
General Agency System
◆Reason:
1. It is vast in area in each province of Vietnam and is
difficult to provide service with inconveniency
transportation
Successful factors
2. It is easier than setting up a branch to expand
Good Person + Good Place
business
◆Consideration:
1. GA director :
Management experience, Performance and
Personal connection relations
2. Location :
Potential area, Saturation of office used and
Strategy developing region
17
General Agency System
Annual plan of company and
development of each branch
HN
BM can apply for GA, but it will be
assessed by head office and
branches
HP
Branch may recommend a suitable
DN
HCM
CT
candidate and potential places for
consideration of an overall
assessment of head office
DNa
Regular annual assessment of
organization and plan, to
determine the new number and
location of GA
18
Engaged Project This Month
 Market information updated
 Analysis of Persistency
 Persistency VS. Premium Collecting
Efficiency
 Auto Pay Promotion Plan
 General Agency System
 2011 Promotion Campaign
19
2011 Promotion Campaign
Happy Anniversary
Purchase more,
more chances
FP+ riders
 FP≥6M
 at least one rider
every 2M more, 1 more
chance
every 1 rider more, 1
more chance
Campaign period: 2011/6/16~2011/8/10
(7th ~8th working month of 2011)
20
2011 Promotion Campaign
Branch
Total
Policy
Drawing
number
% of
reach
standard
Drawing
times
Agent
number
(7WKM)
Times/
Agent
HCM
192
58
30.2%
245
1,674
0.15
HN
843
59
7.0%
161
5,815
0.03
DN
74
23
25.0%
68
312
0.22
CT
186
24
9.4%
73
1,481
0.05
DNAI
365
88
21.0%
270
847
0.32
HP
190
50
15.7%
132
1,438
0.09
1,850
366
13.8%
1,158
11,567
0.10
Total
21
Planning Project Next Month
 New Product Designs
 Review Agent System
 2011 Promotion Campaign
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