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Enhancing Cross-Selling: LDB and LICA Insurance Collaboration Goals for 3rd Quarter 2013

This report outlines the proposed goals and procedures for the LDB and LICA Insurance cross-selling project to improve customer engagement and open new accounts. As 80% of insurance renewals are on an installment basis, the initiative aims to assist customers seeking installment payment plans by providing easier access to checking and savings accounts with low requirements. The collaboration is expected to boost both LDB's depositor base and LICA's payment guarantee through post-dated checks (PDCs), with specific performance metrics outlined for success.

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Enhancing Cross-Selling: LDB and LICA Insurance Collaboration Goals for 3rd Quarter 2013

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  1. PRIORITY GOALS 3rd Quarter 2013

  2. Reference: KPI Report (Sept 2011 to May 2013)

  3. KPI

  4. CROSS SELLING PROJECT With an Affiliate (proposed)

  5. AFFILIATE: LDB

  6. GOALS : To introduce LDB to Insurance customers who are requesting for installment payment on insurance premium. : To offer customers to open an account of either : a. checking account b. savings account/auto-debit arrangement

  7. FACTS : About 80% of renewals are installment basis Ave. monthly renewals - 317 Installment - 253 : At present, about 30% of installment transactions have no pdc’s No checking account -80

  8. PROCEDURE: 1. LDB to provide the following to LICA Insurance a. Application form, Signature specimen, etc. b. List of requirements c. Bank branches directory 2. LDB to extend special accommodations to LICA Insurance referred clients: a. Low opening deposit b. Low maintaining balance c. Same day release of check books 3. LICA INSURANCE to offer customers without Checking account to open an account with LDB.

  9. BENEFITS :LDB : Additional depositors to the bankLICA Insurance : PDC’s will guarantee payment of outstanding balance without need of follow-up / demand

  10. PERFORMANCE MEASUREMENT : Ave. No. of Customers per month - 317 Ave. No. of Installment payment - 253 With PDC’s - 173 (estimate) Without PDC’s - 80 (estimate) • Target for endorsement to LDB - 20% • 80 x 20% = 16 new accounts / mo.

  11. THANK YOU.

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