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