1 / 22

Reporter : Agency Planning Dept. Stanley Chao 28.08.2009

Marketing Divison. Reporter : Agency Planning Dept. Stanley Chao 28.08.2009. Agenda. Performance. A. Plan for Bancassurance. B. Organization strategy Review & Revision. C. 1. Performance. Premium & PFYP. Billion. ( ) is percentage of Vietnamese Target. 2.

rafael-fisher
Download Presentation

Reporter : Agency Planning Dept. Stanley Chao 28.08.2009

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Marketing Divison Reporter: Agency Planning Dept. Stanley Chao 28.08.2009

  2. Agenda Performance A Plan for Bancassurance B Organization strategy Review & Revision C 1

  3. Performance Premium & PFYP Billion ( ) is percentage of Vietnamese Target 2

  4. Performance 3 Region PFYP 1.9 HN 1.7 1.1 HCM 0.8 DN 0.4 3

  5. Performance Headcount 167 SM + 246 SAS↑ Part-Time agents(IA): 2572 Total Agents: 3917 4

  6. Performance 3 Region Headcount(full-time) 765 HN 334 HCM 328 167 DN 5

  7. Performance AS attaining Quota(%) DN 54% 41% 39% HCM 34% 30% 28% HN 6

  8. Agenda Performance A Plan for Bancassurance B Organization strategy Review & Revision C 7

  9. Plan for Bancassurance Marketing Divison Agency Planning Agency Administration Training PR Support Negotiate with Bank Mother Company support 1 experience staff & Trainer:Ho Trung Kien transfer to agency planning dept. Training For Bank staff Planning & Analysis Agency Planning support 8

  10. Plan for Bancassurance Start 14.09.2009 Cooperation Bank IVB & Vietin(planning) Product Short-term & mortgage ins. Market Share Europe-70%；Taiwan-55% 9

  11. Agenda Performance A Plan for Bancassurance B Organization strategy Review & Revision C 10

  12. Organization Strategy Look Back before open business Open & running Strategy Planning 2009-08 2008-07 11

  13. Organization Strategy Vietnamese insurance market Cathaylife BM BM Expericence Financial support SM SM Full-time AS CAS/SEAS/ EAS/SAS/AS Agent(IA) recruit Part-time Introduce & recruitment bonus IA • Apply higher salary for full-time agents • ( financail support/recruitment bonus/training allowance…) ? ? • Training agents well  professional & good service 12

  14. Organization Strategy Problem 2 ? Empty Headcount Problem 1 Poor SM(experiecne) Performance Problem 3 AS resignation rate↑ 13

  15. Organization Strategy Problem 1- Poor Pre-BM/SM(experience) performance • Lots of SM/Pre-BM resign During 2008 recruit 138 SM & Pre-BM 2009.08, remain 52(37%) → after end financial support, remain ??? →lots ofSM/Pre-BM are new (always pay higher financial support) SM: 5M 4M 3M 2M ; Pre-BM: 8M 7M 6M 5M • SM/Pre-BM don’t sell policy No performance ,we still pay Financial support Only 35% SM/Pre-BM sell policy( include IA policy) →How managers teach their agents?? 14

  16. Organization Strategy Problem 2- Empty Headcount Theory Company & AS & IA Win Have 2 case AS sell 1 policy IA sell 1 policy AS IA AS & IA make money AS get more (recruit benefit) 1 case 1 case Current Empty-Headcount 2 agents→1 agent Just 1 case AS sell 1 policy but IA submit and return bonus to AS Brother/sister AS IA Parents Wife/husband AS get more But IA get 0 AS:1 case • Who need to be responsible for policy ?? • Renewal premium bonus when IA terminate?? 15

  17. Organization Strategy Problem 3- AS resignation rate↑ SEAS↑ or SM ↑ Only 9% AS still be full-time after 1 year How can be professional and service well Recruit 7th month 23% 13th month 9% Effective:243 (19%) Total recruit 1269 AS • 648 AS didn’t sell any policy Waste Training allowance 1M 07/2008 03/2009 07/2009 16

  18. Organization Strategy Strategy Revision 17

  19. Organization Strategy New Rule SM/ Pre-BM • Probation period for experience SM →during 2 month attain 15M PFYP and 2 AS • SM Financial support is related • to performance →EX: <15M:0 15M~20M:3M 20M~30M:4M >=30M:5M • SM from AS also can get financial support →Same as above 18

  20. Organization Strategy New Rule SM/ Pre-BM • Reduce Pre-BM financial support • and higher assessment →8M,7M,6M,6M 6M,4.5M,3M,1.5M • Ask SM/Pre-BM sell policy →warning letter/meeting/can not promote 19

  21. Organization Strategy Agents’ new rule 01-2010 Cancel AS position • All agents starting from IA • IA (AS)→ SAS → EAS→…. • (don’t pay training allowance →move to others) × 08~13/2009 Revise Revise Compensation • Higher AS salary and reduce recruit benefit • Revise AS promotion & assessment rule • →excludes IA performance 07~08/2009 能夠將商品做搭配協調 Management • New AS delay to register→cancel training allowance • Roll-Call strictly →absentance↑,demote to IA 讓顧客達到滿足 20

  22. High perfomance Low performance ResourceRe-Assign Conclusion Before 07-2009 After 08-2009 All agents get same salary Higher performance get higher salary Salary performance High promotion Low Demote/terminate 21

More Related