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MONTHLY REPORT Feb., 2010

MONTHLY REPORT Feb., 2010. Planning Division Jimmy Lai 5th Mar. 2010. ENGAGED PROJECT THIS MONTH. Market Information Updated Policy Issued Report Accumulated Persistency Analysis Products Submission Status New Products Information Progress Report-New Branch.

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MONTHLY REPORT Feb., 2010

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  1. MONTHLY REPORT Feb., 2010 Planning Division Jimmy Lai 5th Mar. 2010

  2. ENGAGED PROJECT THIS MONTH • Market Information Updated • Policy Issued Report • Accumulated Persistency Analysis • Products Submission Status • New Products Information • Progress Report-New Branch

  3. Dai-ichi Life reports steady growth Market Info • The insurer obtained VND744 billion from insurance premiums last year with new policies increasing by 39%. • This is also the second straight year the Japanese-invested company has posted profits from the local market after three years of operation. • The company expanded its market share from 4.8% in the first year to around 7% in 2009. • Dai-ichi Life Vietnam plans to obtain 8% of the market share this year and increase the figure to 10% two years late.

  4. AIA opens customer service centers Market Info • AIA has opened its customer service centers in Da Nang, Nha Trang (Middle of VN) and Can Tho (South of VN), which aim to provide customers with a better and more professional service. • The move is part of AIA Viet Nam’s ongoing plan to upgrade and renovate its customer service centers.

  5. Manulife seeks dual-track growth in Vietnam urban and rural areas Market Info • Last September, Manulife Vietnam initiated a micro-insurance project in Hai Phong and Tien Giang, in cooperation with Vietnam Women's Union. • Manulife Vietnam is looking to build up this rural customer base to 500,000 to 600,000 policyholders in the future. • It is anticipated that 10% of these policyholders may emerge as a higher income group, who could then purchase a regular insurance policy. Developing Accidental Term Life (A05)

  6. Market Info AIA collect premiums through post offices • AIA Viet Nam's life insurance policy holders can pay their premiums at any of VNPT's (Viet Nam Post Corporation ) local post offices at their convenience without any extra fees charged. • This collection service is effective from March.

  7. Policy Issued Report Policy Report because of the lunar new year vacation

  8. Policy Issued Report(cont) Policy Report Main product: C07 &C08 Keep observing : C06

  9. Accumulated Persistency Analysis Persistency Analysis 1.Accumulated Persistency Analysis 13th accumulated persistency is not desirable

  10. Accumulated Persistency Analysis(cont) Persistency Analysis 2.Problem Source Analysis agents leave work agent-relationpolicies dismiss Suspend after gaining financial support or performance-related salary agents terminate pay premium lack of safeguard sense and incomeunstable customers terminate pay premium Surrender have cash value after 1st policy year

  11. Persistency Analysis(cont) Persistency Analysis 3.Method to improve • Modify Collector salary related to their collect performance • Add the new official level,Collector Supervisor,to train and supervise Security • Service agents can get 50% service commissions from orphan policies • Develop multiple channel to collect premium and provide premium discount program • Design product that don’t have cash value if surrender within 2nd policy year

  12. Product Status Products Submission Status ※1 basic products and 2 riders have been sent to MoF.

  13. New Product Progress Report - New Product • 1.Loan Portection Insurance (D01)： • ◎Death Benefit : • Decrease Sum Assured depends on the policy • term and year • ◎Policy Term:2-year~20-year • NOTE: It is a Single Pay Insurance. This is the specific product for the bank. It will be sent to MoF next week.

  14. New Product Progress Report - New Product(cont) • 2.Accidental Term Life (A05) ： • ◎Death Benefit : • Non-accident：20% × Sum Assured • Accident：(1+policy year×10%)×Sum Assured • ◎ Maturity Benefit: • at 10-year(P.P.P.：5-year)：10% × Sum Assured • at 20-year(P.P.P.：10-year)：20% × Sum Assured • ◎ Premium Paying Period: 5-year or 10-year This is the specific product with lower premium. It will be sent to MoF as soon as possible.

  15. New Product Progress Report - New Product(cont) • 3.Product Market Share Analysis UP! We will develop UL insurance as soon as possible. We plan it will be the star product in the second half-year. We expect UL will be 10% of our company FYP this year ,and new short-term endowment (A03) will be 20%.

  16. Dong Nai 芹苴 Can Tho New Branch Progress Report - New Branch MoF has approved of operating new branch-Dong Nai. Expecting to open this new branch on April 2010

  17. PLANNING PROJECT NEXT MONTH • Developing New Products Universal-Life Advanced Medical Ridder • 2010 Q2 Promotion Campaign Promotional period:March 25th ~ June 22nd 2010 The 1st prize is up to 30M • Independent Region Research

  18. Thank You!

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