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MONTHLY REPORT September, 2011 September, 2011 Planning Division David Liu
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Sale performance analysis by product Bankassurnace survey Adjustment of Compensation Scheme Planning project next month Agenda
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Sale performance analysis by product Bankassurnace survey Adjustment of Compensation Scheme Planning project next month Agenda
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4 Unit: Billion VND New Business Premium(2011 H1) Our NB premium and market share grow strongly FYPMarket shareGrowth Prudential 59529.9%21.6% Bao Viet 44822.5%18.0% ACE Life 19810.0%29.8% Manulife 22811.5%28.7% Dai-ichi 20210.1%53.8% AIA 1899.5%39.2% Cathay 552.8%131.5% Korea 371.9%0.5% G.Eastern 221.1%1,218% VCLI 8.20.4%4,716% Prevoir 6.80.3%-53.1% Fubon 0.2560.0%-- Total1,99028.9%
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NB Premium - Cathay
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C11 and C12 are still our main product NB Premium - Main Product
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NB Premium - Rider NB premium of Rider grow strongly too.
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EndowmentInvestmentTerm Whole life Annuityrider Market49.0%39.5%2.1%0.5%1.2%7.6% In the market, Endowment and investment are main product ; Rider rate is about 7.6%. Product distribution EndowmentInvestmentTerm Whole life Annuityrider Cathay87.4%0.0%4.5%5.1%0.0%3.1%
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Offer customer more protection Premium per policy↑ salary ↑ Increase company’s profit
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Rider attached rate by product Our main product C11 、 C12 rider attached rate is not good and the trend is decreasing
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Basic planRiderPurpose C12R02 + R04Provide perfect protection to children C10, C11R04Increase medical protection C09R01+R03Increase accident benefit Package product 1.Design some package product Easier to sell 2.Promotion activity for selling package product
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Sale performance analysis by product Bankassurnace survey Adjustment of Compensation Scheme Planning project next month Agenda
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NameVietnam bank cooperation Prevoir ABbank, Sacombank, ACB, Habubank, Tienphongbank… VCLIVietcombank, SeAbank Bankassurance company
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Name200620072008200920102011H1 Prevoir 16,94627,95829,73743,90938,0316,786 VCLI -- 82,1388,235 Market ratio 1.3%1.5% 1.1%0.8% Premium income Market ratio is decreasing because insurance market grow over 30% and Prevoir has bad business performance.
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1. Number of bank cooperation (sign contract or MOU) Over 60% company has cooperated with 2~5 bank, and we just cooperate with Sacombank collecting premium and sign MOU contract with IVB.
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2. Main reason causing slow development Over 30% said that income is not attractive. Nearing 20% said that economic status is the main reason (high inflation + high pricing rate)
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3. Objective customer Mass affluent becomes objective customer in the future.
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4. Potential product Some product related with bank business.
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5. Future development key Customer behavior and macroeconomic status are most important factors.
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6. Development Time (Backassurance FYP ratio reach 25%) Over 80% think that at least need 6 years
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Need more time to develop bankcassurance. Bank doesn’t pay attention to bankassurance channel Customer’s demand of bankassurance is low. Conclusion 1. Making a good cooperation relationship now. 2. To develop our Bancassurance operation ability continuously and wait the opportunity.
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Sale performance analysis by product Bankassurnace survey Adjustment of Compensation Scheme Planning project next month Agenda
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23 2011.11 th Working Month NEW COMPENSATION SCHEME
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24 GDP (USD) 20062007200820092010 2007 2008 2009 2010 2011 23 % CPI (%) Economic grow strongly, inflation raise continuously Responsibility quota is too low
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25 Increase Responsibility Quota Adjust Promotion &Assessment Standard Adjust Agent and SM bonus
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26 levelSCASCASSEASEASSAS PFYP20M12M8M5M3.5M LevelSCASCASSEASEASSAS PFYP30M20M12M8M5M Responsibility Quota New
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27 Promotion Position Serving time in previous position PFYP PeriodAverage SCAS66 20M CAS66 12M SEAS33 8M EAS 335M SAS 333.5M IA- Promotion Position Serving time in previous position PFYP PeriodAverage SCAS33 30M CAS33 20M SEAS33 12M EAS 138M SAS 135M IA- Personal PFYP ≧ 5.0M Policy case reach at least 2 Personal PFYP ≧ 5.0M Policy case reach at least 2 Personal PFYP ≧ 3.5M New Agent Promotion Standard
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28 LevelSCASCASSEASEASSAS FYC 8.04.83.22.01.4 FYC ratio 0~50%15%10%5%0% 50~100%25%20%15%5%0% 100~150%35%30%25%15%5% 150%~40%33%28%20%10% LevelSCASCASSEASEASSAS Standard FYC12.08.04.83.22.0 FYC ratio 0~50%30%15%5%0% 50~100%35%30%15%5%0% 100~150%40%35%30%15%5% 150%~50%40%33%20%10% New Agent meeting-requirement bonus
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29 Promotion Position Serving time in previous position Organization SAS ;IA(SAS ) PFYP PeriodAverage SESM1 year10;(15,7)655M ESM67;(10,5)638M SSM65;(8,3)628M SM 6 (EAS↑) 2;(4,1)611M Promotion Position Serving time in previous position Organization SAS(EAS ) PFYP PeriodAverage SESM616(4)680M ESM612(3)660M SSM68(2)640M SM 3 (EAS↑) 4(1) 620M 330M Personal PFYP ≧ 3.5M Excluding tracing PFYP ≧ 7.0M Personal PFYP ≧ 5.0M Excluding tracing PFYP ≧ 15.0M New SM Promotion Standard
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30 Level SAS IA EASSEASCASSCAS Standard PFYP3.5M5.0M8.0M12.0M20.0M PFYP Ratio (Personally only) 0% 00000 1~69% 00100200400 70~99% 100150300500900 100~149% 20030060010001800 150~199% 350550100016002800 200~299% 500800140022004000 300%~ 7501200210033006000 Level SAS IA EASSEASCASSCAS Standard PFYP5.0M8.0M12.0M20.0M30.0M PFYP Ratio (Personally only) 0% 00000 1~69% 00150300600 70~99% 1502504508501350 100~149% 30055090016002700 150~199% 500800150026004200 200~299% 6001000210036006000 300%~ 8001300310055009000 SM training bonus New
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31 Promotion Position Serving time in previous position Organization SAS;IA(SAS ) PFYP PeriodAverage SBM1 year 4 sub-unit 40 ; 60(20) 6400M BM 1 year (SSM ) 2 sub-unit 20 ; 30(10) 6200M Promotion Position Serving time in previous position Organization SAS( EAS ) PFYP PeriodAverage SBM1 year 8 sub-unit 60(20) 6400M BM 1 year (SSM ) 4 sub-unit 40(10) 6200M BM Promotion Standard
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32 Level SAS IA EASSEASCASSCAS Standard PFYP3.5M5.0M8.0M12.0M20.0M PFYP Ratio (Personally only) 0% 00000 1~69% 0050100200 70~99% 050200300500 100~149% 200250300500800 150~ 2003505008001400 Level SAS IA EASSEASCASSCAS Standard PFYP5.0M8.0M12.0M20.0M30.0M PFYP Ratio (Personally only) 0% 00000 1~69% 0080160300 70~99% 0100300500750 100~149% 3004004508501200 150~ 30050075013502100 BM training bonus New
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33 Level SAS IA EASSEASCASSCAS Standard PFYP3.5M5.0M8.0M12.0M20.0M PFYP Ratio (Personally only) 0% 00 000 1~69% 00 0510 70~99% 05 102040 100~149% 1015 254070 150~ 1025 4065120 Level SAS IA EASSEASCASSCAS Standard PFYP5.0M8.0M12.0M20.0M30.0M PFYP Ratio (Personally only) 0% 00 000 1~69% 00 0515 70~99% 05 153060 100~149% 1020 35 65 105 150~ 1040 60105180 BDO training bonus New
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34 New comerRecruiter LevelPFYP StandardBonusPFYP StandardBonus IA 5.0M0.5M5.0M0.5M 10.5M1.1M 10.5M1.1M SAS 10.5M1.2M10.5M1.2M 15M1.5M15.0M1.5M EAS 15M1.5M-- 24M3.0M24.0M2.0M New comerRecruiter LevelPFYP StandardBonusPFYP StandardBonus IA 10.5M0.6M10.5M0.6M 15M1.2M15.0M1.2M SAS 15M1.2M15.0M1.2M 24M2.0M24.0M2.0M EAS 24M2.0M- 36M4.0M36M4.0M New comer fails to meet policy case standard, no bonus to both ※ policy case standard: Policy case reach at least 2 New comer fails to meet policy case standard, no bonus to both ※ policy case standard: Policy case reach at least 2 Agent Bonus New
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35 SM fails to meet recruitment standard, get 80% bonus (Recruitment standard: 1 new comer and he/she sales 1 policy) SM fails to meet recruitment standard, get 80% bonus (Recruitment standard: 1 new comer and he/she sales 1 policy) OldNew PFYP (M)Bonus (M)PFYP (M)Bonus (M) PFYP < 20 0 PFYP < 30 0 20 ≦ PFYP < 30 3.2 30 ≦ PFYP < 40 4 4.5 40 ≦ PFYP < 60 5 6.0 60 ≦ PFYP < 80 7 60 ≦ PFYP 8.0 80 ≦ PFYP 9 1 st ~6 th working month 7 th ~13 th working month OldNew PFYP (M)Bonus (M)PFYP (M)Bonus (M) PFYP < 30 0 PFYP < 40 0 30 ≦ PFYP < 40 3 40 ≦ PFYP < 50 4 4 50 ≦ PFYP < 60 5 5 60 ≦ PFYP < 80 6 6 80 ≦ PFYP < 100 8 80 ≦ PFYP 8 100 ≦ PFYP 10 New SM Bonus
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36 ItemlevelperiodContent Responsibility quota and salary All - Form 2011.11 th working month Responsibility quota and salary calculation apply new compensation scheme AssessmentAll - ※ Form 2011.11 th working month Assessment apply new compensation scheme ※ Next assessment time is 2012.1 st working month PromotionAll1 wkm ※ Promotion in 2011.12 th wkm apply old scheme ※ Promotion after 2011.13 th wkm apply new scheme Reward regulation Agent1 wkm ※ New comer is promoted in 2011.12 th wkm, his/her bonus is higher amount between new and old reward regulation. ※ Other case apply new reward regulation SM - Form 2011.11 th working month SM reward apply new reward regulation. Transitional Method
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Sale performance analysis by product Bankassurnace survey Adjustment of Compensation Scheme Planning project next month Agenda
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New Product Launch Performance Incentive Activity Related work of New Agency Compensation System
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Thank you Planning Division David Liu
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