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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
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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 R03 was approved by Head Office 2009 Feb. 20th seeking MOF’s approval Expected 30-day to receive approval 2009 Mar. 23rd (Estimated) Receive approval from MOF 5 working days preparation such as set up IT system 、 inform Head Office 、printing DM and so on… 2009 Mar. 31st (Estimated) R03 launched
New product 1~7 Days : 100% SA / per day 8~120 Days : 150% SA / per day 1~120 Days : 50% SA / per day 1~30 Days : 100% SA / per day In addition to Hospitalization Benefits – Accident Medical Rider R03 1. Hospitalization Indemnity Premium Table 2. Home Health Care Unit : per 100VND SA 3. ICU or BICU
New product Example – Accident Medical Rider R03 First 3 days in ICU = 3 x 100,000 = 300,000 10 days in hospitalization = 7 x 100,000 + 3 x 150,000 =1,150,000 Home Health Care = 10 x 50,000 = 500,000 Total = 1,950,000 SA = 100,000VND Premium = 100,000 per year for occupation Class I
Declared Interest Declared Interest Rate *Declared Interest Rate for C01、C02 、C03 and C04 9.3% 8.5% 7.5%
Main Products & Riders Number of Policy Issued 04/07/08~20/02/09 34% 1098 27% 880 25% 799 12% 399 *Verified Policies only * R01(220 cases)、R02(98 cases)
Main Products & Riders Premium Income – by Products 04/07/08~20/02/09 51% 25% 16% 7% In Million *Verified Policies only * R01(51 millions)、R02(19 millions)
Main Products & Riders Main Products w/ Riders Attached 78% 22% 90% 10% Note : A02 & C01(single payment) can’t attach riders
Market Info Standard Chartered Provides Prudential 1 branch in Hanoi 1 branch in HCMC GOALS: Providing a combined financial Package. Set up a Bancassurance Distribution Channel. Pru Triple EduCare (Education) For both Agency and Banc Assurance Pru Cash Double (Endowment) Pru Retire Easy (Pension)
Market Info Ace Life Online Insurance Contract Service Contract Account Value (97% of main products are Universal Life) Issuance Date Contract Validity Status etc….. Customers fill a request form Sent to Info that Ace life must disclose. Policy Service Dept. Username and password will be send via email
PLANNING PROJECT NEXT MONTH • New Branch Establishment • New Product – C05 & C06
New Branch 芹苴 Can Tho New Branch Establishment – Da Nang Date : New Branch plans to be opened on Mar 26th 2009 Location : Green Plaza Building SacomBank Building New Airport in Can Tho: HCMCCan Tho Bus : 5~6 hrs if no traffic Air : less than 1 hr Hope to see a new air route from HCMC to Can Tho in the future
New Product Benefits – C05 (proposal) • Brand new products borrowed from Taiwan • Survival benefits will be paid every 3 yrs 100% SA + Total Premium Paid Interest Feedback DB = 100% SA + Total Annualized Premium Paid 20% SA / each 3 yrs thereafter 10% SA / each 3 yrs ………………. 30 Premium Paying Period = 20 yrs 50 99
New Product Benefits – C06 (proposal) 100% SA + Total Premium Paid Interest Feedback DB = 100% SA + Total Annualized Premium Paid 30 Premium Paying Period = 20 yrs 50 99 100%SA