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MONTHLY REPORTMONTHLY REPORT October, 2010October, 2010
Planning Planning DivisionDivision
Howard WangHoward Wang
29 Oct. 201029 Oct. 2010
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Market information
updated
Analysis of Product Sales
Statistics of Sales
promotion
The Reward Incentive for
Collectors
Progress of New Product
Engaged Project This Month
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Market News
In the first three quarters, its new premium turnover reached nearly VND 230 billion (US$ 11.5 million), up 51 per cent over the same period last year, with the highest position among foreign life insurance in Viet Nam.
In the first three quarters, its new premium turnover reached nearly VND 230 billion (US$ 11.5 million), up 51 per cent over the same period last year, with the highest position among foreign life insurance in Viet Nam.
Dai-ichi Life sees premiums rise 51%
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Market News
Italy’s largest insurer Generali has won permission on Oct. 20,2010 to open a life insurance company in Vietnam as part of its emerging country expansion. The Vietnam company, based in Ho Chi Minh City, will be operational with six months and is fully owned by Generali.
Italy’s largest insurer Generali has won permission on Oct. 20,2010 to open a life insurance company in Vietnam as part of its emerging country expansion. The Vietnam company, based in Ho Chi Minh City, will be operational with six months and is fully owned by Generali.
Insurer Generali sets up life company in Vietnam
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Market News
Last year, life-insurance firms signs 135,223 investment-linked contracts, an increase of 116% compared with 2008.
Total revenue from this type of insurance was worth VND 1.136 trillion (US$582.5 million), accounting for 9.6% of the total revenue and an increase of 5.1% in comparison with 2008.
Last year, life-insurance firms signs 135,223 investment-linked contracts, an increase of 116% compared with 2008.
Total revenue from this type of insurance was worth VND 1.136 trillion (US$582.5 million), accounting for 9.6% of the total revenue and an increase of 5.1% in comparison with 2008.
Insurance proves lucrative for investors
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Market information
updated
Analysis of Product Sales
Statistics of Sales
promotion
The Reward Incentive for
Collectors
Progress of New Product
Engaged Project This Month
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Analysis of Product Sales
Average premium 6.0M in Oct. 2010 is same as it in Sept. 2010
NOP and Premium by Month
Source : 2010.10.20 main data
938
3,216
420
1,509
677
3,138
702
3,646
763
3,922
908
4,826
925
4,892
1,076
5,829
1,037
6,244
739
4,413
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
201001 201003 201005 201007 201009
Policy Premium(VNDM)
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Analysis of Product Sales
% of payment mode
89.1%
10.9%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
201001 201002 201003 201004 201005 201006 201007 201008 201009 201010
% of company’s annual payment is 82.5%
Annual
Others
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Analysis of Product Sales
% of annual payment
88.9%
97.1%
58.8%
77.9%
85.2%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
201001 201002 201003 201004 201005 201006 201007 201008 201009 201010
HCM
HN
DNa
CT
DN
Advantage : 1.Pay lower premium
2.Get first year commission one time
3.Easily maintain policy
Advantage : 1.Pay lower premium
2.Get first year commission one time
3.Easily maintain policy
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Analysis of Product Sales
% of no. policy attached rider
34.7%
51.3%
30.0%
35.0%
40.0%
45.0%
50.0%
55.0%
201001 201002 201003 201004 201005 201006 201007 201008 201009 201010
% of company’s policy attached rider is 43.2%
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Analysis of Product Sales
% of policy attached rider
47.4%
25.6%
58.8%
21.1%
40.9%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
201001 201002 201003 201004 201005 201006 201007 201008 201009 201010
HCM
HN
DNa
CT
DN
Advantage : 1.Have more complete protection
2.Increase commission and PFYP Advantage : 1.Have more complete protection
2.Increase commission and PFYP
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Market information
updated
Analysis of Product Sales
Statistics of Sales
promotion
The Reward Incentive for
Collectors
Progress of New Product
Engaged Project This Month
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Statistics of Sales Promotion
Period: 07/10/2010~1/12/2010 (11~12 WKM)Period: 07/10/2010~1/12/2010 (11~12 WKM)
Participant:
Direct Agent who can sell products
Requirement:
Performance First Premium (PFP) / Per Policy Draw Chances
/ Per PolicyGroup 1:(HCM & HN) Group 2: (Others)
6.0M PFP < 12.0M ≦ 4.0M PFP < 8.0M ≦ 1
12.0M PFP <18.0M ≦ 8.0M PFP <12.0M ≦ 3
18.0M PFP <24.0M ≦ 12.0M PFP <16.0M ≦ 5
24.0M PFP ≦ 16.0M PFP ≦ 7
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Statistics of Sales Promotion
Draw Chances / Per
PolicyGroup 1 Group 2 Total
Total of Draw Chances
1 45 35 80 80
3 1 9 10 30
5 - 1 1 5
7 - 1 1 7
Subtotal 46 46 92 122
Total Policy 101 91 192 -
No. of Policy achieved the requirement
Data: from 2010.10.07 to 2010.10.20 (11 WKM)
48%
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Statistics of Sales Promotion
Analysis of Payment Mode with Performance First Premium
PFP Mode 0~1 1~2 2~3 3~4 4~5 5~6 Total
Group 1
Monthly 2 1 0 0 0 0 3
Quarterly 6 2 0 1 0 0 9
Semiannual 0 1 1 1 0 0 3
Annual 3 0 7 9 11 10 40
Group 2
Monthly 1 0 0 0 - - 1
Quarterly 6 3 2 0 - - 11
Semiannual 2 1 1 1 - - 5
Annual 3 1 6 18 - - 28
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Statistics of Sales Promotion
Conclusion :
Group1 : 1.PFP in 5~6M, around 70% policy has attached riders
2.HCM1 and HN2, percentage of annual payment is less
than 80% in 11 WKM.
Group2 : 1.PFP in 3~4M, only 42% policy has attached riders.
2.DN and CT, percentage of annual payment is less than
80% in 11 WKM.
Conclusion :
Group1 : 1.PFP in 5~6M, around 70% policy has attached riders
2.HCM1 and HN2, percentage of annual payment is less
than 80% in 11 WKM.
Group2 : 1.PFP in 3~4M, only 42% policy has attached riders.
2.DN and CT, percentage of annual payment is less than
80% in 11 WKM.Add
Rider
Annual
Payment
More
Chances
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Statistics of Sales Promotion
Analysis of Payment Mode with Performance First Premium
PFP Mode 0~1 1~2 2~3 3~4 4~5 5~6 Total
Group 1
Monthly 2 1 0 0 0 0 3
Quarterly 6 2 0 1 0 0 9
Semiannual 0 1 1 1 0 0 3
Annual 3 0 7 9 11 10 40
Group 2
Monthly 1 0 0 0 - - 1
Quarterly 6 3 2 0 - - 11
Semiannual 2 1 1 1 - - 5
Annual 3 1 6 18 - - 28
68%
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Market information
updated
Analysis of Product Sales
Statistics of Sales
promotion
The Reward Incentive for
Collectors
Progress of New Product
Engaged Project This Month
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The Reward Incentive for Collectors
Encourage Collectors to sell productsEncourage Collectors to sell productsPurposePurpose
ProgramProgram
Period: 2010/12WKM~2011/4WKMReward:
Period: 2010/12WKM~2011/4WKMReward:
PFYP (Million) Reward(% of PFYP)
3.5≤PFYP<5 2%
5≤PFYP<10 4%
10≤PFYP<20 6%
20≤PFYP 8%
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Market information
updated
Analysis of Product Sales
Statistics of Sales
promotion
The Reward Incentive for
Collectors
Progress of New Product
Engaged Project This Month
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Progress of New Product
Product for Bank Channel Single PaymentInsurance Term : 2~15 YearsBenefits : 1.Death Benefit
2.Total Permanent & Disability BenefitNot permitted to attach any rider
Product for Bank Channel Single PaymentInsurance Term : 2~15 YearsBenefits : 1.Death Benefit
2.Total Permanent & Disability BenefitNot permitted to attach any rider
Cathay Loan Protection (D01)
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New Product Launch
Annual Plan for Next
Year
Review Agent
Compensation
System
Planning Project Next Month
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