Download - Sbi General Set Ppt 2012
Agenda
• The General Insurance Opportunity
• The Partners
• Our Journey
• Our Objectives and Strategy
• What are the interesting things we are doing?
• What does a career at SBI General mean for you?
• Our SET Scheme & What is in it for me (WIFME)
• What is expected of you?
• Role – Sales & Marketing
The General Insurance opportunity…..
Gross Written Premium (INR B)
YOY Change% 19% 20% 13% 12% 17% 22% 12% 11% 15% 19% 24%
Penetration (GWP/GDP)
Density (GWP/Pop’n)
0.6% (0.55% in 2000)
USD$6.7 (US$2.3 in 2000)
* Un-audited Apr 10– Feb 11 data; Comparable quarter growth
Source: IRDA
The industry continues to enjoy consistent strong growth …
… and this is expected to continue
* Projected by Ernst & Young
Source: IRDA, E&Y Analysis
Legend:
LOB (growth p.a.)
Components of Growth:•Insurable Asset (Volume ) Growth•Rate Changes•Changes in Ins Penetration
Market Projections* – By Line of Business
INR M 358,499410,749
490,884
583,906
676,317
774,731
920,882
CAGR = 17%
Industry profitability remains challenging…
De tariffication
Incurred Loss Ratios for the Total Market – FY03 – FY 11
Loss Ratios, Expense Ratios & Combined Operating Ratios – FY09 – FY11
111%
112%
120%
129%
128%
140%
Private Sector*
Public Sector
COR in FY09 to FY11 are well above 100%. This has been caused by extreme competition since detariffication driven by new entrants to the market and expectation that high returns will continue to be earned on investments. In addition, the Public Sector companies have been seeking to maintain market share which was lost in the 2001-2007 period. Higher motor pool losses have also contributed. Expenses have also not been controlled as the companies have grown as systems, employees and processes have developed in an unplanned and inefficient way.
* Figures exclude specialised insurance companies (ECGC and Agricultural Insurance), but do include health insurersSource: IRDA, Interlink Insurance & Reinsurance Brokers, Annual reports
Private
75%70%
65%
68%
68%
72%
77%
81%
86%
Public 80%80%
82%
92%
85%
90%
91%
89%
98%
State Bank – The evolution
Bank of Bengal (1806/1809)
Bank of Madras (1843)
Imperial Bank of India (1921)
State Bank of India (1955)
State Bank of India (New Logo 1971)
A macro economic proxy for Indian economyA macro economic proxy for Indian economy
SBI achievements as on 31st March 2011
• Corporate Accounts Group (CAG) advances portfolio of Rs.1,08,774 crores.
• Mid Corporate Group (MCG) primarily catering to the banking needs of Mid Corporates, with a turnover of Rs.50 crores and above. Aggregate Advances level grew by 21.15% (YoY) to reach Rs.1,62,031 Crores.
• SME advances Rs.1,38,760 Cr with growth of 25.9%.
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•Currently, SBI is the market leader in Education Loans with a market share close to 25% amongst PSU banks . Total exposure of Rs.10,980 crores.
•SBI Auto Loans maintain its market leadership by increasing the market share from 15% to 18.2%%
•SBI Home Loans is India’s No.1 Home Loan brand. SBI Home Loans registered a growth of Rs.15,576 crores (21.88%) and is the No.1 Home Loan player in terms of the size of the Individual Home Loan booked– amongst All Scheduled Commercial Banks.
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SBI achievements as on 31st March 2011
IAG
•IAG generates annual gross written premium of AUD $8.05 billion (FY11).With an insurance margin of 9.1% and net profit after tax AUD $ 250 million.
•Core capabilities in motor insurance business, as well as world leading technical skills in underwriting, pricing and claims management
•Also experienced in partnering with local players and transferring capabilities across the Asian region to build shareholder value
•IAG is committed to building a sustainable growth platform in Asia
•Running established business in Thailand & Malaysia. Pursuing strategy of entering new markets – China, Indonesia & Vietnam.
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Our Journey………….Notable milestones in evolution of SBI General
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Year 2008-09
Date Event
November ‘08 SBI & IAG sign JV Agreement signed
February ’09 SBI General incorporated
Year 2009-10
Date Event
November ’09 IAG inducted as shareholder and company fully capitalized
December’09 General Insurance License received from IRDA.
IAG Directors inducted and first joint Board meeting held
March ’10 Signed IT solution implementation partner contract with HCL Technologies
First Reinsurance Program signed
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Year 2010-11
Date Event
April ’10 Sale of first policy
September ’10 Execution of Corporate Agency Agreement with SBI
October ’10 Launch of Long term Home policy
March ‘11 17 Branch Offices, 400 plus employees, Rs 43 Crs. GWP, launch of employee and customer portals and live IT system
Year 2011-12
Date Event
April -October GWP Rs 100 Crores +
HR strength more than 600+
Our Journey………….Notable milestones in evolution of SBI General
Our (Expected) Competitive Advantage(How We Will “Win” )
• A brand focused on superior customer experience which
cannot be replicated in the Indian general insurance
industry (FY12* onwards)
• A true retail and SME banc-assurance model delivering
real distribution cost benefits (FY12 onwards)
• A Corporate banc-assurance model which develops long
term general insurance relationships (FY13 onwards)
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* All timings are as at 1 April of the financial year** By FY14, we would have collected two full years of data, which will facilitate superior risk selection
Our (Expected) Competitive Advantage(How We Will “Win” )
• An infrastructure platform, focusing initially on SBI, and then expanding rapidly beyond the bank, reaching more customers, many of which currently may not have access to general insurance products and services. Scalability will deliver cost benefits in all segments of the business. (FY14 onwards)
• A deep understanding of risk, which will be reflected in superior risk selection and risk-based pricing, as well as the offering of broader customer risk management solutions (FY14 onwards**)
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* All timings are as at 1 April of the financial year** By FY14, we would have collected two full years of data, which will facilitate superior risk selection
What are the interesting things we are doing?
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•Building a data driven and high performance culture an organization driven by values great teamwork at all levels
•Developing an innovative and powerful IT platform
• Implementing risk based pricing in all lines of business
•Developing true bancassurance model…………and many more!
What does a career at SBI General mean for you?
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•Great opportunity for professional development . Learn best practices whether in Sales, Underwriting, Operations or Claims. Learn from most talented people
•Great advancement opportunities keeping in view Company’s potential to grow
•Professional work environment
•Market driven pay package
SET Scheme 2012
- Department placement right at campus
- Profile – Sales and Marketing
- CTC – 3 Lacs with 5% Variable
- Cities – Could be anywhere in India .If you are not geographically mobile or want a home town posting only, disclose in the CV and speak in the Interview
- Probation Period-1 Year from the date of joining
- Confirmation Designation – Strictly as per individual performance
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Sales Executive Trainee
What is expected of you?
•Get to know your strengths:
• Do you know what you're good at?
• Do you know what you need to learn so that you get the full benefit of your strengths?
•Treat others as associates and partners:
• Learn to work with people as a team player; not only with your team but with other teams also
•Expose yourself to challenges:
• Volunteer for new assignments
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What is expected of you?
•Continuously enhance knowledge:
• Domain knowledge, processes, IT systems, customers etc. Knowledge has power. It controls
access to opportunity and advancement
•Always measure the gap between what is your contribution and what
should be your contribution
•Acquire understanding of the organization , its purposes, its values, its
environment and markets and its core competencies
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Sales & Marketing Department-Role Profile
Position Title: Sales Executive Trainee
Key Responsibility Areas: •Responsible for ground level implementation of sales strategy/business plan of the
organization through various channels:– Bancaassurance channel– Other channels like agency, broking, direct etc
•Relationship management with customers and channel partners including redressal of grievances
•Organizing regular structured meeting with channel partners to monitor business performance
•Daily review of business achievement with vertical head and providing constructive feedback to vertical head on issues faced
• Coordination with support functions to ensure superior customer service•Responsible for process adherence as per IRDA norms and flawless
documentation
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Thank You
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