Ocean Life Insurance Unveils Successful Results of 2011’sFirst-Year Premium, Totaling 22% GrowthReady to Conquer 2012 Market with Newly-Recruited 4,500 Insurance Representatives, Coupled with New Concept Entitled:“Change to Win” to Completely Win the Grassroots Market
Ocean Life Insurance Company Limited celebrates its success in the 2011’s first-year premium collection, totaling Bt.3.46 billion, a 22% growth compared 2010’s results. The company paces hard to form an army of 4,500 new-generation insurance representatives to conquer the market, as well as announcing to roll out new strategies for 2012 under the concept: “Change to Win”. Ocean Life Insurance aims to enhance the business strength and underlines its image of an innovative insurance company that caters to all lifestyles of the new generation without compromising the needs of its grassroots clients, a true “Life Partner…and Beyond”.
Nusara (Assakul) Banyatpiyaphod, president of Ocean Life Insurance Company Limited, reveals: “Ocean Life Insurance has enjoyed its tremendous success in 2011. Our overwhelmingly successful business performance was a result of our aggressive operational strategies in all aspects that we had implemented over the past two years. We have collected over Bt.3.47 billion first-year premium in 2011, which shows the growth of 22% and a total premium collection of Bt. 13.273 billion, which is calculated a 14.34% growth compared to our income from the first-year premium in 2010.”
To further develop the company’s sales channels, Ocean Life Insurance has recruited 4,500 new insurance representatives through its caravan project to select suitable resource people from all parts of the country last year. At the moment, the company is in the process of training these young-generation representatives in order to form a strong army of sales warriors. At the same time, the company has improved its training materials for insurance representatives to be more intensive and stringent. Newly-recruited representatives will focus on ways to present their products using the method: “Need-based Selling”, which will better respond the clients’ interests and maximum benefits. Apart from this, Ocean Life Insurance will also launch a series of sale promotional programs to motivate the spirit of its representatives in order to achieve their best work efficiency and productivity. In the past year, Ocean Life Insurance has pocketed 6.38% return from the company’s investment.
Nusara continues: “For the policy and strategy of 2012, Ocean Life Insurance continues aiming for growth expansion by rolling out a new concept, entitled: ‘Change to Win’. The new concept focuses on the importance of change in the sales procedure into a more intensive one, in order to maintain the strength in growth for the new-generation insurance representatives. The company also organizes the ‘Ocean Academy’ as a center of training and learning for Ocean Life Insurance on the whole. The center will serve as venues for the training of sales personnel, as well as other divisions. This year, the company also aims to maintain its strength in the up-country market alongside the expansion of new-generation market. To win the heart of new generations, the company will utilize various marketing activities to reach the target groups. We will still follow the ‘Customer Centric’ strategy by paying importance to each client’s individual needs. By studying the clients’ behavior and lifestyle, we will be able to offer them with the products that are best catered to their needs. For 2012, we have set a target to collect the first-year premium of Bt.4.336 billion, which is a 25% growth and a total premium collection of Bt. 14.979 billion, which is a 12.85 growth. We will also expand the insurance representative team to be equipped with 5,000 members within the end of 2012.”
Moreover, Ocean Life Insurance focuses on retaining the rate of insurance representatives’ turnover. This is to enhance the company’s growth sustainably and securely. Other main business strategies include adjusting the portion of each product selling, offering flexible insurance policies that feature an array of benefits, expanding recognition among target customer groups through advertising media and various marketing activities, as well as continually improving the image of Ocean Life Insurance’s branches nationwide.
For the target investment this year, Ocean Life Insurance aims to achieve 6.20% return of investment by focusing on low-risk assets that give stable income, as well as diverse assets that give good returns.
“With our promptness and velocity in changing the business strategy during the past 2 years, the company is confident to create continuous results of success in 2012. We will constantly progress in the business growth, as well as focus on the importance of carrying out the best customer care to highlight our company’s philosophy: “Life Partner…and Beyond,” Nusara concluded.
For more information, please contact :
Marketing and Corporate Communications Division Verve
Ocean Life Insurance Co., Ltd. Khun Nitida Asawanipont (Nida)
Khun Sunee Puamornyut (Nee) Tel. 02-204-8226, Cell
Tel. 02-261- 2300 ext 1621, Cell Khun Piyaporn Chullapushpa (Toom)
Khun Adisak Srichan (Tor) Tel. 02-204-8217, Cell
Tel. 02-261-2300 ext 1621