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Hungarian Affluent Program

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Generali Biztosító

on 26 October 2015

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Transcript of Hungarian Affluent Program

Affluent Program Target
(2014-2015)
Soft target > to move towards the affluent segment


Hard target > increase the number of affluent client contracts and premium within the Generali Group

Hungarian Affluent Program
Katalin Borbenyi

Main parts
CRM Affluent model
CRM model is based on the existing client portfolio (First model is 12/2013)
Question > How wealthy is the client?
Analyzing i. e. the address, house, savings, type of car, special products, real estate price from external database, single premium products’ data, new car value...
Using score system
Mustn't communicate to the clients.
Why? Because the
affluent feature is just assumption
(i.e. bough database)
Cross- and upsell campaigns are supported by this CRM model




Content
Affluent Program target, subprograms
2 pillars > Affluent CRM aspect and Premium Agent system
Focus points in 2015
Experience, recommendations
Two main dimensions >
Performing affluent segment activities
and
setting up a premium agent system

Premium sales system (internal sales channel)
Affluent
Segment
activities
1) CRM Affluent model definition
2) Lead campaigns
3) Marketing events
4) Client Clubs
5) Partner Program
1) Setting up premium agent system - pilot
2) Premium training system
3) Measurement system
4) Needs Analysis (online tool)
Affluent Program
Affluent statistics
Lead
campaigns 2014
Based on the affluent CRM model
In the internal sales channel (not just in the premium sales system)
Kamatfix1 (single premium product), Kamatfix2, Pension (single premium product for pension) lead campaigns in 2014

Results
1) Kamatfix 1-2:
578 millió HUF single premium + 208 millió HUF
life and non life regular premium cross selling (1 EUR = 310 HUF)
2) Pension lead campaign:

Leads: 7880 leads > 3000 affluent lead
Sold pension single premium: almost zero
Cross selling activity:
42 000 th HUF cross selling and
25 000 th HUF affluent cross selling






Affluent
Segment
activities
Affluent lead campaigns experience and plans in 2015
CRM model is good for lead campaigns
Leading the sales and supporting with (own) leads recommendation > it is working
We would like to focus on the affluent lead campaigns in the future

Good experience
Existing affluent clients who has UL, Trad or Health insurance
Good health care clients (lower insurance risk)
Proposal > High sum (33 000 - 100 000 EUR sum insured) life insurance with extra client benefit and sales support
In the whole internal sales channel > all agents have affluent clients
Program is ongoing
High sum lead campaign 2015. Q2-Q3
Marketing and hook events 2014
Target > finding the affluent clients according to jobs, hobbies, sports...
Golf day was organized and we visited a boat show as well
Decision > this year we wouldn't like to visit or organize these types of events
Why? > difficult measurement, low new business
Experience > agents have to be part of these social group
Not recommended
Client Clubs in the whole internal sales channel
26 clients clubs were organized in 2014 from the Affluent budget
Clients: prospect, existing affluent clients
Topics: investment, healthcare, pension
Location: country-wide (Generali building if possible or elegant restaurants, coffee bars, etc…)

Regular premium (life and non life) 215 000 EUR; single premium: 62 000 EUR, investment funds: 138 000 EUR.
Cost to achieve: 22 300 EUR
Premium agents system- the logic
Selecting premium agents - 2014
More than 50 agents were selected
as potential premium agents (throughout the country)


Life insurance new business volume is above 10 000 EUR/ year
Total (life + non life) new business is above 12 000 EUR
The affluent rate is min. 20% regarding the new business year (according to the CRM model) > it need to be changed and we need to define premium pure premium contracts which is based on just the premium - ongoing
Rate of the storno is below 9,5%
Rate of the outstanding premium is below 9,5%
The agent should fulfil the subjective criterias

Advanced for the premium agents
Extra benefits
Extra training course
Extra initial commission
Closed communities on Partner Portal and Facebook („We are an elite group”)
Special marketing materials

Special training course
Professional product knowledge, concentrate on affluent needs (funds, UL...)
Sales technique, negotiation skills in the affluent segment
Know-how to build and keep this type of clientele

Premium sales system in 2015
Using the experience from 2014
Maximum 100 premium agents in the whole internal sales channel
One responsible premium sales person
Be highly qualified premium agents with financial knowledge

Thank you for your attention!

katalin.borbenyi@generali.com
Summary II.
Premium agent system dimension
Summary I.
Recommendations
Affluent segment dimension
Summary III.
Focus points in 2015
Premium Training System

Tools (e.g.: online Needs Analysis Tool)

Product (UL, Asset funds…)

Processes (e.g.: Client Clubs System)
Online Needs analyzer
In addition, each department (CRM, Product Development, Operations…) has to focus on the affluent segment within their own organization/competence.
The affluent mindset will have to be the generally applied approach in the future.

Unit Linked (child/pension plans), investment, life risk, property, home, motor, casualty, health, travel needs/ habits...
Risk-tolerancy questionnaire
ONLINE tool
Product recommendations
Modules/boxes
Sortable - easy to rearrange based on the importance
Quick / detailed analysis
Household based

In the middle of the whole is the client > 360 degree
Life
Kamatfix 2-3 lead campaign experience
Motor
In the whole internal sales channel not just among the premium agents
Kamatfix > single premium UL product
All agents/ all types of clients could sell/ buy this product > there wasn't any extra product feature
Result of the Kamatfix 2-3
lead campaigns: 1 900 000 EUR single premium; 86 200 EUR life and non life regular premium cross selling
Kamatfix 2-3 2014.Q1-Q4
Pension lead campaign experience
Target: Selling pension product
There wasn't any extra product features for the affluent segment
3000 affluent leads were shared
Result: 3-4 pension product was sold (zero) BUT the cross selling was 83 300 EUR (life and non life)
Total cost to achive for lead camps. (2014):
5000 EUR (IT developments)
Partner Program
(not Affinity)
Pilot project with 6 nominated tide agents (not just premium agents) + 3 key accounts managers
Selecting companies who have corporate Generali existing contracts
Extra marketing materials for the tied agents
- Extra offers for the employees
- Special offer with discounts
- Face to face insurance consultancy (at the workplace)

It is not a real "affinity" program > It is worksite pilot program.

What does the "worksite" program mean? > Special retail insurance offer for Generali corporate clients' employees
Partners where the negotiations, meetings are ongoing > Sberbank, Mátrai Power Plant Company, Dana, Toyota
Results (new business) till now > 0 EUR
Products, small talk, communication and presentation trainings are ongoing
Partner Program Status
(2015. Q1)
New criteria in 2015 Q2!
Full transcript