Docstoc

VIP - PowerPoint

Document Sample
VIP - PowerPoint Powered By Docstoc
					                  VIP


This epic journey began in the year 2000,
    when Ceylinco Insurance chose to
differentiate its Vehicle Insurance Policy
   from the generic products available
             in the market.
              VIP
       In 2003 Ceylinco VIP
revolutionized not only the vehicle
    insurance market but the
   entire insurance industry world
 over by introducing On the spot
         claim settlement
                 VIP


  A similar replacement vehicle in
case of an accident , where repairs
         exceed four days
             VIP


  Free personal accident cover for
every passenger up to Rs 200,000/-
                 VIP


  Increase in insured value of the
vehicle by 10 % with no increase to
            the premium
             VIP


Entitlement for no claim bonus
 regardless of any claims
                VIP


       Payment of upto two lease
installments, in the event of a repair
         exceeding 30 days
               VIP


Plastic surgery cover for ladies upto
           Rs 100,000/-
             VIP


Roadside assistance 24- hrs a day,
       365 days a year
               VIP


   Up to Rs 1,000,000 to the vehicle
leasing company and Rs 500,000 to
the family, in case of Death or Total
  permanent disablement due to an
               accident
               VIP


  Up to Rs 500,000 to the vehicle
leasing company and Rs 500,000 to
the family, in case of Death or Total
   permanent disablement due to
           natural causes
          VIP
 Year   Premium Rs.   As a % of Total
                      Premium

2002       954             36.6

2003      1,932            51.9

2004      3,312            59.3

2008      6,584            58.3

2009      5,332            58.3
        VIP
 Year     Profitability Rs.

2002      230,244,745

2003      446,458,971

2004      621,466,287

2008     1,680,959,448

2009     1,440,204,323
VIP
           VIP


        Monarch
           VIP
     On the Spot
( logo will be inserted here)
VIP
           VIP
• TVCM 1
           VIP
• TVCM 2
           VIP
• TVCM 3
• TVCM 4
• Radio - 3 Commercials
• Image of Hoarding
               Objective


• To increase our Ceylinco VIP portfolio by
  attracting competitor customers
                  How ?
• When a Ceylinco VIP customer meet with
  an accident, with competitor a vehicle,

 “ We take over the burden of their guilt ”
                  How ?
• Ceylinco VIP customer will be given a
  replacement vehicle or an Air ticket

• Non VIP party to the accident will also get
  an Air ticket
                        Criteria

               COST
SUM INSURED             MAX COST       REWARD
              PER DAY


  Up to 1 M                Rs. 3,500            Gift voucher

  1M – 2M                  Rs. 7,000            Gift Voucher

                                                  Air Ticket
  2M – 3M                 Rs. 12,700


  3M – 5M                 Rs. 20,000

  5M – 7M                 Rs. 30,400

7M & ABOVE                Rs. 57,000

  Three
                           Rs 2,500
 Wheelers
                                                                      Appoint
                                                                     an assessor

         VIP vehicle                   VIP Insured                    Keep the
        Accident with                  contact call                     T/P
         Competitor                      centre                       Customer
           Vehicle                                                     @ Site
                                                                                          Inspect &Offer
                                                                                                GIft
                                             T/P Customer Approach U/W                        Voucher

  Assessor                                   Dept For the Renewal
      Call Centre
Nerve Centre
Create SMS with
 Assessor
        Insured
VIPAppoint an               VIP
Referringvoucher  the
following &
Contact Info..
 Inspect
Collect VIP Gift the
from assessor
                                                                                            Send SMS To
                                                                                             IT System
                         Generate Policy.
      the
SMSAirinsured /&Gift /
             OTS
         &Ticket report,
-vehicle &Customer
Call Centre No.
      advice
Issuing
     CIC Vehicle
up date additional Info.
     Voucher encashment.
-IssueVehiclethe T/P
      to
     T/P keep
2393939 No.
     the IT system
to Voucher Code.
-VIP Gift Voucher
      Vehicle @ Site                                                                     Update


       VIP Vehicle Accident with competitor Vehicle
- Voucher No.
                        Collect gift
                        Voucher from
                                                                   Recall voucher
                                                                   code & amount
                                                                                     Additional Info..
                                                                                        to the IT
                                                                                         System
                        The insured &         PREMIUM SETTLEMENT
                                                                   from the system
                        Update IT system
At the Accident site Assessor Generate 2 SMS’s
1. Existing SMS for OTS Inspection
Inspection Doc.      Vehicle No      OTS Amount      Type of payment
      No
     0087            WPPA9520           9,500/-            P

             Link


2. Proposed separate SMS for new scheme (T/P)
CIC vehicle NO      T/P Vehicle No   VIP Gift Code     Voucher No
  WPPA9520           WPGU7484          1A HIGH         COMC5078
– Extract additional information from the scanned
  OTS inspection report & update to the VIP Reward
  IT System.

– Distribute records for the respective branches &
  to Motor Dept 2 months prior to the DUE DATE
  OF RENEWAL for follow-up with competitor
  Customer.

– Prepare consolidated status reports each month for
  management information & to be forwarded to
  respective DGM’s & AGM’s
                                               Report
                                              formats
• Educate customer to keep the T/P vehicle in the accident
  site.
• Introduce the scheme over the phone if possible

• If the vehicle owner is not present at the accident site,
  owner should contacted over the phone and inform the
  benefit immediately
• When a new customer approach CIC for
  the debit settlement, recall the UW records
  & update the settlement to the scheme
• Referring the nerve centre report, renewal to be
  followed by the branch 2 months prior to the respective
  renewal due date.

• Each month status of the renewals to be updated to the
  nerve centre, in the format given bellow.

Report format No 3
Report to be completed by the branch (Follow up status)

            Voucher                Renewal      Renewed /
  Branch              Vehicle No                             Premium     Reason
              No                   due date    Not renewed
 Kaduwela   08250     WPGU2020     31/12/2010 Renewed        Rs.45,250
 Kaduwela   02020     WPPA9520     17/05/2010 Not renewed    -           Sold
• Only 1 coupon to be accommodated for any new business, even
  multiple vouchers have been issued for deferent accidents during the
  year.

• Proposer will have the option to use the voucher, even for any other
  vehicle belonging to him (vehicle number should be unlocked by the
  nerve centre)
• If customer does not agree to get the air ticket he could use the
  voucher to get a reduction of premium to the stated value of the
  voucher
• Maximum validity period of the voucher is only 01 year from the issuing
  date.
• Voucher will be issued under the name of owner & will be given to any
  driver who’s available at the accident site.
• The voucher is non-transferable

• Records of CIC Vehicle & the competitor vehicle will be
  updated in the IT system for auditing purpose.

• Loss of voucher - can be accommodated with SMS record,
  after obtaining the respective approvals.

• Institutional vehicles – Respective institute should nominate
  the eligible person, who should be entitled for the foreign
  tour.
• In the event T/P customer produce a low
  value vehicle for insurance reduce benefit
  proportionately :

 Eg:
  – Accident Vehicle Value   = Rs. 5,000,000/
    VIP REWARD               = Rs.30,400   (BANGKOK / SINGAPORE)



  – Proposed Vehicle Value   = Rs. 2,000,000/
    Eligible VIP REWARD      = Rs.12,700 (INDIA – MADRAS)
               Growth

To give these benefits we are spending a
huge amount. Hence, we expect a
bigger return.

We expect that our premiums will grow
by at least ½ a Billion during the next 5
months
    Expected Increase in Premiums
      August – December 2010


•   City Office   - Rs   140 million
•   Branches      - Rs   360 million
          Expected Increase in Premiums
          Region      Annual Budget 2010 Rs   Additional Premium for 5 months
Western               505,660,000                        34,500,000
Wayamba               515,847,000                        35,300,000
Metro Outer           359,344,000                        24,500,000
Eastern               383,451,000                        26,300,000
Western Outer         407,723,000                        28,100,000
North Western         579,036,000                        39,600,000
South Western         672,552,000                        46,100,000
Central               273,903,000                        18,700,000
Colombo Outer         177,005,000                        12,200,000
Uwa                   552,024,000                        37,800,000
East West             399,599,000                        27,400,000
Southern              415,030,000                        28,400,000


City Office
    Budget
    Adjusted Budget                                     140,000,000
Thank You

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:927
posted:4/29/2011
language:English
pages:48