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Argus Appreciation Day
Transcript of Argus Appreciation Day
Thank you for being here with us
Thank you for being here with us
~ Participation in international fora
- Finance Transformation,
- Finance Communication
- Team Enhanced Close
~ First in Group to submit quarter-end reports
~ Debtors vs last year went down by 6%
~ 2nd secondment to GIB.
~ Assist commercial and PL in TOBA
~ New team structure
~ Improvement in Spark Engagement index!
Destination: Drive change
~ Debtors – reduce balances > 90days
~ Implement electronic funds transfer
~ Enhance internal reporting
- Benchmark vs market
- Challenge everything
~ Revise business planning process
~ Enhance relationship with Commercial Dept.
to work closer with all departments to help achieve company objectives
~ Continued staff development
~ Smooth integration of Millennium portfolio to Argus which
greatly contributed to this year end results. This was only possible thanks to the whole team for their input.
~ GWP for 2016/2017 - an increase of 18%
- This can only be possible by maintaining our current level of service and exploring additional covers.
- Furthermore we need to attract new business from new clients as well as from Argus policy holders.
~ Build up business accounts
~ Promote the company's insurance products and services
~ Develop new products
~ Joe Avellino has moved from the commercial team and set up a new division within the company called the business development unit.
~ David is still a new member of the Argus family and
therefore the destination of this function will be clearly mapped once he joins us in May.
Our Growth - lifting Strategy 2016-2017
~ Argus Malta is the company's centerpiece as it continues to grow its footprint within our international company.
~ We have earned this spot, as we have enjoyed 156% growth in our non-motor GWP within the last 3 years. We have exceeded all our targets in 2015-2016.
~ Our Alpha talent pool, our engagement and our determination, have served as the main engine to this growth.
~ The company continues to recognise our efforts and today, on behalf of the company, we say a big thank you.
~ We will continue to showcase our talents, ensuring a steady growth, growth that would trigger the mother company to continue its drive to invest locally.
~ As depicted in the video clip, each of us our catalyst to this growth, we are more than just passengers. We are the engines of the planes which will transport us from our destination to the next ambitious yet achievable destination. Together we will reach new performance heights.
Air Pacific Airlines
~ Increase standard motor excess
~ Reduce legal & survey costs
~ Contingency plan for hailstorm claims
~ Maintain the constant reviews of open claims & audits
~ Enhance reporting standards
~ Forecast Net Loss Ratio at 57%
~ Claims Re-engineering
~ Motor retention was in line with forecast
~ Exceeded target with a 57:43 (Motor/ Commercial) split
~ Individual assessment per motor risk prior to renewal
~ Home is currently 6% of current portfolio
~ 90% Home retention rate
~ Successful home renewal and chasing methodology
~ To reduce motor from 57% to 49% of combined portfolio
~ Revision of current underwriting guidelines
~ Deeper analysis of driver age vs performance
~ Rewording motor policy in line with the revised parameters
~ Increase on Home GWP to reach 700,000
~ Set new home sales & targets for TIIs & Brokers
Key Performance Indicators