Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009...
-
Upload
roderick-watts -
Category
Documents
-
view
213 -
download
0
Transcript of Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009...
![Page 1: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/1.jpg)
ReporterReporter:: Agency Planning Dept.Agency Planning Dept. Stanley ChaoStanley Chao 28.08.200928.08.2009
![Page 2: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/2.jpg)
Agenda
1
AA Performance
BB Plan for Bancassurance
CCOrganization strategy Review & Revision
![Page 3: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/3.jpg)
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
![Page 4: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/4.jpg)
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
![Page 5: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/5.jpg)
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↑+
![Page 6: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/6.jpg)
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
![Page 7: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/7.jpg)
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%
![Page 8: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/8.jpg)
Agenda
7
AA Performance
BB Plan for Bancassurance
CCOrganization strategy Review & Revision
![Page 9: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/9.jpg)
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
![Page 10: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/10.jpg)
9
Plan for Bancassurance
14.09.2009Start
Cooperation BankIVB & Vietin (planning)
ProductShort-term & mortgage ins.
Market ShareEurope-70% ; Taiwan-55%
![Page 11: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/11.jpg)
Agenda
10
AA Performance
BB Plan for Bancassurance
CCOrganization strategy Review & Revision
![Page 12: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/12.jpg)
Organization Strategy
11
2008-07
Strategy Planning Open & running
2009-08
![Page 13: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/13.jpg)
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
![Page 14: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/14.jpg)
AS resignation rate↑↑
Empty Headcount Poor SM(experiecn
e)
Performance
13
Problem 1
Problem 2
Problem 3
Organization Strategy
![Page 15: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/15.jpg)
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
![Page 16: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/16.jpg)
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
![Page 17: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/17.jpg)
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%
![Page 18: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/18.jpg)
17
Organization Strategy
![Page 19: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/19.jpg)
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
![Page 20: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/20.jpg)
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
![Page 21: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/21.jpg)
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
![Page 22: Reporter: Agency Planning Dept. Agency Planning Dept. Stanley Chao Stanley Chao 28.08.2009 28.08.2009.](https://reader035.fdocuments.in/reader035/viewer/2022070413/5697bfa51a28abf838c979ea/html5/thumbnails/22.jpg)
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