monthly report february, 2009
DESCRIPTION
MONTHLY REPORT FEBRUARY, 2009. Planning Division Hans Wang 27 Feb. 2009. ENGAGED PROJECT THIS MONTH. New Product – R03 Declared Interest Rate Main Products v.s. Riders Market Information. New product. New Product – Accident Medical Rider R03. 2009 Feb. 18th - PowerPoint PPT PresentationTRANSCRIPT
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MONTHLY REPORT FEBRUARY, 2009MONTHLY REPORT FEBRUARY, 2009
Planning DivisionPlanning Division
Hans WangHans Wang
27 Feb. 200927 Feb. 2009
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ENGAGED PROJECT THIS MONTH
New Product – R03
Declared Interest Rate
Main Products v.s. Riders
Market Information
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New Product – Accident Medical Rider R03
2009 Feb. 18th R03 was approved by Head Office
2009 Feb. 20th seeking MOF’s approval
2009 Mar. 23rd (Estimated) Receive approval from MOF
2009 Mar. 31st (Estimated) R03 launched
New New producproduc
tt
Expected 30-day Expected 30-day to receive to receive approvalapproval5 working days 5 working days preparation such preparation such as set up IT system as set up IT system 、、 inform Head inform Head Office Office 、、 printing printing DM and so on…DM and so on…
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Benefits – Accident Medical Rider R03
1~7 Days : 100% SA / per day8~120 Days : 150% SA / per day
1~120 Days : 50% SA / per day
1~30 Days : 100% SA / per dayIn addition to Hospitalization
New New producproduc
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Occupation Class
GP/per year
I 100
II 150
III 225Unit : per Unit : per 100VND SA100VND SA
Premium TablePremium Table
3. ICU or BICU3. ICU or BICU
2. Home Health Care2. Home Health Care
1. Hospitalization Indemnity1. Hospitalization Indemnity
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Example – Accident Medical Rider R03
10 days in 10 days in hospitalizatiohospitalizatio
n = 7 x n = 7 x 100,000 + 3 x 100,000 + 3 x
150,000 150,000 =1,150,000=1,150,000
First 3 days in First 3 days in ICU = 3 x ICU = 3 x 100,000 = 100,000 = 300,000300,000
Home Health Home Health Care = 10 x Care = 10 x
50,000 = 50,000 = 500,000500,000
Total =
1,950,000
SA = 100,000VNDSA = 100,000VND
Premium = 100,000 per year for occupation Class IPremium = 100,000 per year for occupation Class I
New New producproduc
tt
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Declared Interest RateDeclaredDeclaredInterestInterest
5.0%
7.0%
9.0%
11.0%
13.0%
15.0%
17.0%
19.0%
07/08 08/08 09/08 10/08 11/08 12/08 01/09 02/09
1-year Deposit Rate 10-yr Gov. Bond Yield Declared Interest Rate
9.3%9.3%
8.5%8.5%
7.5%7.5%
*Declared Interest Rate for *Declared Interest Rate for C01C01 、、 C02 C02 、、 C03 and C03 and C04C04
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Number of Policy Issued
C03
A01C04
A02
C03A01C04A02
Product C03 A01 C04 A02 C02 C01 Total
# of Policy 1098 880 799 399 32 20 3228
Proportion 34% 27% 25% 12% 1% 1% 100%
Main Main Products & Products &
RidersRiders
*Verified Policies only *Verified Policies only * R01(220 cases)* R01(220 cases) 、、 R02(98 cases)R02(98 cases)
34%34%
10981098
27%27%
880880
25%25%
799799
12%12%
399399
04/07/08~20/02/0904/07/08~20/02/09
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Premium Income – by Products
A02
C03
C04
A01
0
1000
20003000
4000
5000
6000
70008000
9000
10000
A02C03C04A01
Product A02 C03 C04 A01 C02 C01 Total
Premium Income 9461 4745 3084 1246 119 66 18721
Proportion 51% 25% 16% 7% 1% 0.4% 100%
Main Main Products & Products &
RidersRiders
*Verified Policies only * R01(51 millions)*Verified Policies only * R01(51 millions) 、、 R02(19 millions)R02(19 millions)
51%51% 25%25% 16%16% 7%7%In MillionIn Million
04/07/08~20/02/0904/07/08~20/02/09
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Main Products w/ Riders Attached
Duration Main products w/o Riders Main Products w/ Riders Total
04/07/08~20/2/09 2549 (90%) 279 (10%) 2828
27/11/08~ 1006 (78%) 279 (22%) 1285
MainProducts w/o
Riders
MainProducts w/
Riders
0
200
400
600
800
1000
1200
27/11/08~
Main Main Products & Products &
RidersRiders
Note : A02 & C01(single payment) can’t attach ridersNote : A02 & C01(single payment) can’t attach riders
MainProducts w/o
Riders
MainProducts w/
Riders
0
500
1000
1500
2000
2500
3000
ALL
90%90% 10%10% 78%78% 22%22%
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Standard Chartered Provides Prudential
Pru Triple EduCare(Education)
Pru Cash Double(Endowment)
Pru Retire Easy(Pension)
GOALS:Providing a combined financial Package.
Set up a Bancassurance Distribution Channel.
Market Market InfoInfo
For both For both Agency Agency
and Banc and Banc AssuranceAssurance
1 branch
in Hanoi
1 branch
in HCMC
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Contract Account Value Contract Account Value (97% of main products are Universal (97% of main products are Universal
Life)Life)Issuance DateIssuance Date
Contract Validity StatusContract Validity Statusetc…..etc…..
Ace Life Online Insurance Contract Service
Market Market InfoInfo
Customers fill a Customers fill a request formrequest form
Policy Service Dept.Policy Service Dept.
Sent toSent to
Username and Username and password will password will be send via be send via emailemail
Info that Ace life Info that Ace life must disclose.must disclose.
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PLANNING PROJECT NEXT MONTH
New Branch Establishment
New Product – C05 & C06
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New Branch Establishment – Da Nang
芹苴 Can Tho
Date : New Branch plans to be opened on Mar 26th 2009
Location : Green Plaza BuildingSacomBank Building
NewNewBranchBranch
New Airport in Can Tho: HCMCCan ThoBus : 5~6 hrs if no trafficAir : less than 1 hr Hope to see a new air routefrom HCMC to Can Tho in the future
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NewNewProducProduc
ttBenefits – C05 (proposal)
3030 5050 9999Premium Paying PeriodPremium Paying Period
= 20 yrs= 20 yrs
………………………………..
DB = 100% SA + Total Annualized Premium PaidDB = 100% SA + Total Annualized Premium Paid
10% SA / each 3 yrs10% SA / each 3 yrs
20% SA / each 3 yrs thereafter20% SA / each 3 yrs thereafter
100% SA + Total 100% SA + Total Premium PaidPremium Paid
Interest Interest FeedbackFeedback
•Brand new products borrowed from TaiwanBrand new products borrowed from Taiwan
•Survival benefits will be paid every 3 yrsSurvival benefits will be paid every 3 yrs
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NewNewProducProduc
ttBenefits – C06 (proposal)
3030 5050 9999Premium Paying PeriodPremium Paying Period
= 20 yrs= 20 yrs
DB = 100% SA + Total Annualized Premium PaidDB = 100% SA + Total Annualized Premium Paid
100% SA + Total 100% SA + Total Premium PaidPremium Paid
100%SA100%SA
Interest Interest FeedbackFeedback
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