reporter: agency planning dept. agency planning dept. stanley chao stanley chao 28.08.2009...
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ReporterReporter:: Agency Planning Dept.Agency Planning Dept. Stanley ChaoStanley Chao 28.08.200928.08.2009
Agenda
1
AA Performance
BB Plan for Bancassurance
CCOrganization strategy Review & Revision
Performance
Premium & PFYP
8th WKM 2009(1~8)
Prem PFYP Prem PFYP
ViteNam 3.63.0
(72%)28.4
20.2(79%)
( ) is percentage of Vietnamese Target
2
Billion
3
Performance
3 Region PFYP
100
600
1100
1600
07 08 09 10 11 12 13 01 02 03 04 05 06 07 08
HN
HCM
DN
1.91.9
1.71.7
0.40.4
1.11.1
0.80.8
Performance
Headcount
SM Full-Time agentsTotal
Pre-BM SM SEAS EAS SASAS
Viet-Nam 57 110 15 78 153 932
1345
Part-Time agents(IA): 2572 Total Agents: 39173917
4
167 SM 246 SAS↑+
5
Performance
3 Region Headcount(full-time)
0
200
400
600
07 08 09 10 11 12 13 01 02 03 04 05 06 07 08
HN
HCM
DN
765765
334334328328
167167
6
Performance
AS attaining Quota(%)
20%
40%
60%
08 09 10 11 12 13 01 02 03 04 05 06 07 08
HCM
DN
HN
54%54%
41%41% 39%39%
34%34%
30%30%28%28%
Agenda
7
AA Performance
BB Plan for Bancassurance
CCOrganization strategy Review & Revision
8
Plan for Bancassurance
Marketing DivisonMarketing Divison
Agency PlanningAgency Planning Agency AdministrationAgency Administration TrainingTraining PRPR
Support
Negotiate with BankMother Company support 1 experience staff& Trainer:Ho Trung Kien transfer to agency planning dept.Training For Bank staff
Planning & Analysis Agency Planning support
9
Plan for Bancassurance
14.09.2009Start
Cooperation BankIVB & Vietin (planning)
ProductShort-term & mortgage ins.
Market ShareEurope-70% ; Taiwan-55%
Agenda
10
AA Performance
BB Plan for Bancassurance
CCOrganization strategy Review & Revision
Organization Strategy
11
2008-07
Strategy Planning Open & running
2009-08
IA
AS
Organization Strategy
12
Vietnamese insurance market Cathaylife
SM
BM
Agent(IA)
SM
BM
Part-time
Full-timeCAS/SEAS/
EAS/SAS/ASrecruit Introduce & recruitment
bonus
Apply higher salary for full-time agents ( financail support/recruitment bonus/training allowance…)
Training agents well professional & good service
ExpericenceFinancial support
AS resignation rate↑↑
Empty Headcount Poor SM(experiecn
e)
Performance
13
Problem 1
Problem 2
Problem 3
Organization Strategy
14
Problem 1- Poor Pre-BM/SM(experience) performance
Lots of SM/Pre-BM resign Lots of SM/Pre-BM resign
During 2008 recruit 138 SM & Pre-BM 2009.08, remain 52 (37%) → after end financial support, remain ??? →lots of SM/Pre-BM are new (always pay higher financial support) SM: 5M 4M 3M 2M ; Pre-BM: 8M 7M 6M 5M
During 2008 recruit 138 SM & Pre-BM 2009.08, remain 52 (37%) → after end financial support, remain ??? →lots of SM/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 policySM/Pre-BM don’t sell policy
Only 35% SM/Pre-BM sell policy ( include IA policy)
→ How managers teach their agents??Only 35% SM/Pre-BM sell policy ( include IA policy)
→ How managers teach their agents??
No performance ,we still pay Financial support
Organization Strategy
AS & IA make moneyAS get more (recruit benefit)
15
Problem 2- Empty Headcount
TheoryTheoryCompany & AS & IA
WinHave 2 case
AS IA
AS sell 1 policyIA sell 1 policy
1 case 1 case
CCurrentntEmpty-Headcount2 agents→1 agent
Just 1 case
AS
AS sell 1 policy butIA submit and
return bonus to AS
AS:1 case
AS get moreBut IA get 0
IA
1. Who need to be responsible for policy ??2. Renewal premium bonus when IA terminate??
Brother/sister
Parents
Wife/husband
Organization Strategy
Organization Strategy
16
Problem 3- AS resignation rate↑
Only 9% AS still be full-time after 1 year
How can be professional and service well
SEAS↑ orSM ↑
07/2008 03/2009
Total recruit 12691269 AS Effective:243 (19%)
07/2009
648 AS didn’t sell any policy
WasteTraining
allowance 1M
Recruit7th month
23%23%13th month
9%9%
17
Organization Strategy
18
New Rule•Probation period for experience SM
•SM Financial support is related
to performance →EX: <15M:0 15M~20M:3M
20M~30M:4M >=30M:5M
→during 2 month attain 15M PFYP and 2 AS
•SM from AS also can get financial support →Same as above
Organization Strategy
19
New Rule•Reduce Pre-BM financial support and higher assessment
•Ask SM/Pre-BM sell policy →warning letter/meeting/can not promote
→8M,7M,6M,6M 6M,4.5M,3M,1.5M
Organization Strategy
20
讓顧客達到滿足
能夠將商品做搭配協調
Revise
Management
ReviseCompensation
Cancel AS position
•New AS delay to register→cancel training allowance•Roll-Call strictly →absentance↑,demote to IA
Agents’ new rule
•Higher AS salary and reduce recruit benefit•Revise AS promotion & assessment rule →excludes IA performance
•All agents starting from IA IA (AS)→ SAS → EAS →…. (don’t pay training allowance →move to others)
×01-2010
08~13/2009
07~08/2009
Organization Strategy
Conclusion
Low performanceLow performanceHigh perfomanceHigh perfomance
performanceperformance
ResourceRe-AssignResourceRe-Assign
All agents get same salary
All agents get same salary
promotionpromotion
Demote/terminateDemote/terminate
21
Before 07-2009 After 08-2009
Higher performance get higher salary
Higher performance get higher salary
SalarySalary
HighHigh
LowLow