eib monthly analysis report - january 2012

8/3/2019 EIB Monthly Analysis Report - January 2012

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[LIFE AGENCY UPDATES JANUARY 2012] February 13, 2012

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We would like to highlight our updates as per charts above on new business vs. spill over graph which comprise of

FYCP for the financial year 2011/12.

As we can see, our new business only contribute between 17%-39% for the past 5 months and the rest is spillover businesses from previous financial year. In January 2012, our new business contribution is 23%.

New Business Trend shows tremendous drop compared to previous month i.e. from 1.05mil to 0.53mil byalmost 50%. However when compare to SPLY (Jan 2011), we are still ahead by 0.16 mil i.e. 44.49%. Looking

into the past 6 months from August 2011, we note that our business trend is almost constant.

We would like to highlight on submission of cases in January 2012 as follows:-

When compare against SPLY, i.e. January 2011, our submission of cases have dropped by 12.53%.

Feb Mar April May June July Aug Sept Oct Nov Dec Jan

-459 257 349 62 -890 -274 214 551 -150 -11 -509 -304

-14.59% 7.37% 10.87% 2.01% -31.97% -9.44% 6.87% 22.60% -5.31% -0.39% -17.48% -12.53%

-43.99% -23.56% -32.83% -38.37% -63.57% -40.92% -19.76% -5.64% -37.07% -24.55% -37.32% -14.01%

26.61% 39.32% -4.94% -11.71% -39.74% 38.75% 26.75% -10.27% -10.44% 5.64% -15.03% -11.65%

VS SPLY

VS Budget (%)

VS SPLY (%)

VS Previous month (%)

Period of Feb 11 - Jan 12 :


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The further bad news is that we are also behind by 11.65 %compared to previous month i.e. December2011.

This is unusual for an after Financial Year End closing. The number of cases are expected to improve duringthe first one month of New Financial Year, as per previous trend.

Graph 2 Graph 3

Graph 1 Graph 4 Graph 5

Productivity ratio, it has gone well over its budget of 3.5 cases per active agent. On average, our activeagents are recording a whooping 5.24 cases. (Refergraph 2).

Whilst this is good news, other KPIs remain behind budget. Let this month be the beginning of many more good

news as we move into the year of Water Dragon.

Observation.

1. Active Agent vs. Inactive Agent and Activity Ratio vs. Expected Activity Ratio

Based on the chart above, only 17% of our agents are active i.e. 403 agents out of 2,394 total EIB manpower.

This small percentage also reflected in the activity ratio. Hence, we are short of our target i.e. 1,436 active agents

(60%).

2. Average Case Size (ACS) vs. Expected ACS

Our actual average case size is lower than the Expected average case size by RM 1326.00. This is due to

most of our agents' focus on "middle class income earners" market segmentation instead of the higher income

class.

0.00 2.00 4.00 6.00

Productivity budget

Productivity

Active Agent Productivity

1200 1300 1400 1500 1600

ACS Budget

ACS

Average Case Size

83%

17%

Active vs Inactive

Inactive Agent Active Agent

-

0.500

1.000

1.500

Aug Sept Oct Nov Dec Jan

New Business Trend (RM'000)

0% 50% 100%

1st Yr Persistency

Budget

1st Yr Persistency

Persistency


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3. 1st Year Persistency vs. Expected 1st Year Persistency

This graph shows that our1st year persistency is also off target, reflecting that a more efficient client servicing

is required from the agent. As it stands, we're at the 74.15% mark instead of the 90% budget that the company is

targeting. We find persistency to be very crucial in sustaining both the agent and the company's profitability apart

from the new businesses secured.

4. Active Agent Productivity (AAP) vs. Expected AAP

In contrast to the others, the Active Agent Productivity figures are showing a more promising sign. Even

though only the active agents are being counted in the statistic, productivity has gone well over its budget of 3.5

cases per active agent. In average, our active agents are recording a whooping 5.24cases each.

Recommendation.

In line with our last ABPC, it is wise to continuously use our Agency Management System (AMS) tool. AMS tool

is a good reference when we plan and monitor our new business activities that should be reflected positively in ourperformance.

We would also like to highlight that the more cases you submit the more proposals shall be inforced as there

will always be proposals that falls under the unexpected sub-standard medical underwriting.

The following is our top 3 performers by category in terms of monthly & YTD FYCP followed by number of monthly

& YTD submitted cases and current year collection efficiency.

Top Group Agency Managers - January 2012

NOAGENCY

CODE

AGENT

CODEAGENT NAME

FYCP

January 2012

FYCP YTD

January 2012

Current Year

Collection Efficiency

# Cases

Monthly

# Cases

YTD

1 75114 062752 T CHANDRARAJAN A/L THANASAGARAN 241,348.77 241,348.77 85.11 202 202

2 75120 073569 ANANDAN A/L PATTAPAN 195,761.13 195,761.13 88.92 135 135

3 90140 082552 YUSOF MAT SAHAT 118,893.20 118,893.20 94.40 25 25

Top Direct Unit - January 2012

NOAGENCY

CODE

AGENT

CODEAGENT NAME

FYCP

January 2012

FYCP YTD

January 2012

Current Year


# Cases

Monthly

# Cases

YTD

1 75120 073569 ANANDAN A/L PATTAPAN 153,245.66 153,245.66 91.22 91 91

2 77117 025973 TEE SOH TIN 110,959.84 110,959.84 95.22 94 94

3 90140 082552 YUSOF B MAT SAHAT 103,496.56 103,496.56 95.13 9 9

Top Personal - January 2012

NOAGENCY

CODE

AGENT

CODEAGENT NAME

FYCP

January 2012

FYCP YTD

January 2012

Current Year


# Cases

Monthly

# Cases

YTD

1 90140 155051 ERANZA BT HAMID 78,363.73 78,363.73 98.09 0 0

2 75114 160093 MOHAMMAD FENDI B ZAHARIE 49,362.42 49,362.42 95.28 7 7

3 75120 171827 SALBINA BT SHAFIEE 47,984.07 47,984.07 95.41 27 27


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In reference to Life Insurance collection efficiency, we found that Current Year CollectionEfficiency for Personal

Producers is as follows:

764 agents (33%) achieved above 80% persistency. 103 agents (8%) achieved between 70% to 80% persistency. 424 agents (59%) achieved below 70% persistency.

Please refer to below table for our KPI for the month of January 2012:

.

> 80 %

59%

70% - 79.99%

8%

< 70%33%

Current Year Collection Efficiency

KPI Budget :Activity

RatioProductivity

Average

Case Size

GREEN On Target 0.60 3.50 1,500.00

YELLOW 10% Below Target 0.54 3.15 1,350.00

RED Above 10% Below Target 0.48 2.80 1,200.00

Region FYAPProposal

SubmissionManpower

ActiveAgent

ActivityRatio

ProductivityAverageCase Size

Central 516,199.34 443 231 40 0.17 11.08 1,165.24

East Coast 75,308.17 37 93 10 0.11 3.70 2,035.36

Kuala Lumpur 370,756.42 303 421 65 0.15 4.66 1,223.62

Northern 803,856.87 526 387 65 0.17 8.09 1,528.25

SABAH 248,580.89 211 333 50 0.15 4.22 1,178.11

SARAWAK 399,248.80 268 522 110 0.21 2.44 1,489.73

SOUTHERN REGION 345,459.46 293 250 57 0.23 5.14 1,179.04

Direct Business 54,845.56 42 157 8 0.05 5.25 1,305.85

Grand Total 2,814,255.51 2,123 2,394 405 0.17 5.24 1,325.60

KEY PERFORMANCE INDICATOR ( KPI ) - January 2012

By Region

Key Performance Indicator


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This is the Life Insurance Agent Profiling forJanuary 2012:

Profiling Criteria YTD Criteria # Agents ( % )

Superstar 100,000 and Above 8,333 and Above 56 4.34%

Star 50,000 - 99,999.99 4,167 - 8,332.99 88 6.82%

Average 10,000 - 49,999.99 833 - 4,166.99 340 26.34%

Laggard 1,000 - 9,999.99 83 - 832.99 423 32.77%

Inactive Below 1,000 Below 83 384 29.74%

Total Productive Agent 1,291

In reference to our last ABPC, all Leaders are advised to look into their agent profiling so that decisions that

will benefit their Agency can be made.Please also refer to your pledge activities to improve your agents from Average profiling to Star profiling.

We hope you find the above useful.

SUPERSTAR

4%STAR

7%

AVERAGE

26%

LAGGARD

33%

INACTIVE

30%

# AGENTS

eib monthly analysis report - january 2012

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