Monthly Report February, 2011 Planning Division Sam Lung 25 Feb. 2011
Agenda Market News 2010 Market Performance 2010 Sales of Products New Product Cooperation with Non-Life
Vietcombank cooperates with Prudential in collecting insurance charges via Internet Market News Customer Prudential’s customers who have their bank accounts in Vietcombank How Register for bank’s online services Paying the periodical premium at anytime Register for bank’s online services Paying the periodical premium at anytime
Charities Activities of Life Insurer Market News Dai-ichi Launched a blood donation program Prudential Reserve 10 million USD for community activities in Vietnam to 2015
2010 Market Performance
FYPShareRank(2009)Growth(%)agents #Prudential 1, %1(1)24.1%82,539 Bao Viet %2(2)10.8%19,999 Dai-ichi %3(6)76.1%13,822 ACE %4(4)38.2%8,162 Manulife %5(3)23.1%8,907 AIA %6(5)23.9%15,294 Cathay %7(7)49.8%8,122 Korea %8(8)113.2%5,398 Prevoir %9(9)-25.3%-- G. Eastern %10(10)3.6%180 VCLI %11(11)26,625%-- Total 3, %26.8%162,423 Unit: Billion VND 2010 Market Performance
SASEASSEASCASSCAS PFYP(M) Policy # ≥ 1 Policy ratio 20.9%20.8%19.8%35.7%66.7 SASEASSEASCASSCAS PFYP(M) Policy # Analysis of Agent Active 2010 SAS performance per wkm (Excluding SM ) 2010 Active SAS performance per wkm (Excluding SM ) Solution: Push agent to Active!!! Solution: Push agent to Active!!!
Sales of Product
Product Type Endowment 49.2% Investment 41.9% Rider 5.8% Term Life 2.5% Whole Life 0.6%PrudentialEndowment(81.5%) Bao Viet Endowment(50.0%) Dai-ichiInvestment(83.3%) ACEInvestment(96.9%) ManulifeEndowment(76.2%) AIAInvestment(85.9%) CathayEndowment(77.9%) KoreaEndowment(62.3%) PrevoirInvestment(88.1%) G. Eastern Endowment(93.9%) VCLITerm Life(100%) Main Product of Insurer 2010 Sales of Product-Market
2010 Sales of Product-Cathay First Year Premium# of Policy Unit: Million VND 58% 15% 13% 52% 18% 15% Endowment(C07) is still main force, followed by Education(C08) and Whole Life(C05)
New Product
Policy term10 years20 years Paying period5 years10 years Non-Accidental Death Benefit 10% Sum Assured 20% Sum Assured Accidental Death Benefit Increased Sum Assured: SA x (1+10% x T year) Maturity Benefit 10% Sum Assured 20% Sum Assured AO5: Accidental Endowment
M 110 M 120 M 130 M 140 M 150 M 160 M 170 M 180 M 190 M 200 M Period Non- Accidental Accidental 35 years old, Male Term: 10 years Sum Assured: 100M Premium:2.25M/year (Totally pay 5 year) New Product Low Premium, but High Coverage!
New Product Current(C05)New(C10) Death Benefit : 150% Sum Assured (10/20 yr) Death Benefit : 150% Sum Assured (10 yr) 180% Sum Assured (10 yr) Accidental Benefit: X Accidental Benefit : Extra 100% Sum Assured Cash Benefit (pay every 3 yr) Cash Benefit : 1~56~1011~ 5% SA7.5%SA10%SA 1~56~1011~ 5% SA8%SA10%SA
New Product Current(C07)New(C11) Death Benefit : 10% Increased SA (simple interest rate per year) Death Benefit : 15% Increased SA (simple interest rate per year) Accidental Benefit: X Accidental Benefit : Extra 100% Sum Assured Maturity: 10% Increased SA (simple interest rate per year) Maturity : 15% Increased SA (simple interest rate per year)
New Product Current(C08)New(C12) Education Benefit : Education Benefit Adjusted: Death Benefit: 120% Sum of Annual Modal Premiums Paid Death Benefit : Max(120% Sum of Annual Modal Premiums Paid, 100% SA) Maturity: 60% Sum Assured Maturity : 100% Sum Assured % % 25%15%
Cooperation with Non-Life
Make Contract End of February, 2011 Training Course Training Course Location: HCM Date: 2/14(1~2 courses per month) 44 agents finished the course 43 pass the exam Location: HCM Date: 2/14(1~2 courses per month) 44 agents finished the course 43 pass the exam Product Motor Vehicle Insurance Personal Accident Insurance Fire Insurance Marine Cargo Insurance Motor Vehicle Insurance Personal Accident Insurance Fire Insurance Marine Cargo Insurance Cooperation with Non-Life
Planning Project Next Month
New Product GA (General Agency) Assessment 2011 Customer Campaign Assessment Thank you!! Planning Division Sam Lung