Monthly Report
Planning Division
William Liao
24 Feb. 2012
LOGO
Agenda
1 Market News
2 Business Situation
3 Reinstatement Incentive Program
4 Policy Replacement
5 Product Promotion & Training
6 Planning Project Next Month
Market News
Market News
• MoF will restructure insurance
market into four groups
Group 1
1.guaranteed solvency
2.profitable business
Group 2
1.guaranteed solvency
2.no profit in two consecutive years
Group 3
solvency lower than the minimum level
Group 4
Insolvent companies
Business situation
Business situation
• Performance
PFYP
Accomplished
3,103
32.5%
• Efficiencies
Productivity
(cases)
2011
13wkm
2012
1wkm
Productivity
(mil VND)
One month retention
13th month
EAS↑
SAS
0.2
1.5
18.1%
15.5%
0.1
0.7
20.9%
18.7%
Business situation
13th month one month persistency
Year
month
％
2011
01
02
38.6 42.5
03
48
04
05
06
2012
07
08
09
10
11
12
01
41.6 33.4 41.2 38.8 37.3 28.1 31.2 30.6 24.2 23.7
60
40
23.7
20
0
1
2
3
4
5
6
2011
7
8
9
10
11
12
1
2012
persistency keep decrease , to Jan 2012 only 23.7%
increase persistency is one of important job of this year
Business situation
Retention
Year
2010
Wkm
After 4
wkm
After 7
wkm
After
13wkm
2011
11
12
13
01
2
3
4
5
6
7
8
9
10
62.9
78.9
43.7
53.3
89.2
55.8
62.3
83.2
87.4
85.1
82.0
86.0
93.3
32.2
40.7
34.3
32.0
52.8
40.3
39.8
68.4
76.5
76.6
19.0
16.0
18.7
18.7
Agent self-purchase rate
month
Premium
0M ~ 5M
5M ~ 10M
10M ~ 15M
15M ~ 20M
20M
total
2011
1
2
4
12
1
19
38
2
4
6
12
0
5
28
3
3
7
24
1
1
37
4
3
8
27
0
0
38
5
3
7
25
2
0
37
6
3
7
24
2
1
37
7
3
5
26
1
0
35
2012
8
3
7
21
0
0
32
9
4
8
21
2
1
36
10
4
8
16
2
1
31
11
3
12
13
2
0
30
12
3
12
6
2
1
23
1
2
7
7
0
1
18
Must improve agent’ sales ability  increase productivity
enhance persistency rate
www.themegallery.com
Company Logo
Reinstatement
Incentive Program
Reinstatement Incentive Program
• Campaign period:
01/12/2011 ~ 31/01/2012
• Incentive program:
 For customer:
+ Wave the interest
+ Expand non-health check period
+ Expand reinstatement of terminated policy
 For Application Staff
(include agent and collector)
+Reinstatement bonus: 3%
Reinstatement Incentive Program
• Reinstatement Competition:
Agency Branches Competition
Rank
No.1
No.2
No.3
Policy number
(At least 5)
5M
3M
2M
Application Staff Competition
Rank
Group
Policy number
(At least 3)
Premium
(At least 15M)
No.1
No.2
No.3
3M
2M
1M
3M
2M
1M
Reinstatement Incentive Program
TOP 3
Region
12/1 – 1/31
cases
premium
HN1
7
25
DNAI1
6
31
HN4
5
16
Last 3
Region
12/1 – 1/31
cases
premium
HCM2
0
0
CT 2
0
0
HP1
0
0
Reinstatement Incentive Program
The program result:
•
•
For Agency branches:
BM
•
Branch
Number of
policy
Premium
1
Dương Bích Ngọc
HAN4-04
4
14M
2
Nguyễn Thị Minh Ánh
HAN1-0B
3
10M
3
Trần Xuân Hải
ĐNA1-03
3
9M
Note: No branches met condition (5 policies)
Reinstatement Incentive Program
The program result:
•
For application staffs:
•
Ranking by number of policy:
Name
Position
Region
Number
of policy
Premium
Cash
Prize
1
Ngô Hoàng Tuấn
Collector
HCM
4
16M
3M
2
Nguyễn Bồi Thảo
Collector
HN
3
8M
2M
Note: Only 2 staffs met condition (3 policies)
•
Ranking by premium:
TT
Name
Position
Region
Number
of policy
Premium
Cash
Prize
1
Trần Thị Thu
Trang
Collector
HN
2
23M
3M
2
Trần Huy Khánh
Collector
HCM
1
20M
2M
3
Ngô Hoàng Tuấn
Collector
HCM
4
16M
1M
Policy Replacement
Policy Replacement
The same Insured buy New policy while Old
policy happen one of following case :
surrendered
suspended
reduced sum assured
Policy
replacement
reduced paid up, extended term
Why company must issue regulation
of policy replacement ?
Avoid agent unfair competition
Protect customers’ right
Policy Replacement
±6 months from the effective date
Observation Period of New Policy or surrender or
suspension date of Old Policy
Ex. If effective date is 15/12/2011
 Jun /2011~ Jun /2012 is the
observation period.
Observation Period
Observation Period
Policy Replacement
Month 201107
No. of
40
persons
8
9
10
11
12
201201
58
83
70
57
49
29
90
60
30
0
7
8
Result
9
10
11
12
1
2011/12
2012/01
Agents
49
29
FYP
216M
139M
FYC
87M
56M
Policy Replacement
BCS外務管理(Quản lý ngoại vụ)
查詢系統(Tra tìm)替換契約預警查詢
Cảnh báo tìm kiếm thay đổi hợp đồng
Product Training
Product Training
Product Lauch Seminar
Training schedule:
 Place: 6 branches
 Time: after getting product approval
 Presenter: CAO
 Participant: CRD, RD, BM, SM
Planning Project
Next Month
Planning Project Next Month
• Compensation scheme adjustment
• Submit & design new products
• Prepare to new products promotion
LOGO