AACP appoints new executive in charge of direct-sales channels
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Ayudhya Allianz CP has appointed a new executive to manage its direct-sales channels and plans to launch a new product aimed at the elderly that does not require any health check-up.
Bryan Smith, president and chief executive officer of the company, said yesterday that its direct-marketing business had been ranked No 1 in terms of sales in the country’s insurance market for four consecutive years.
The firm yesterday launched an aggressive marketing strategy that includes the restructuring of its management team. Chitra Karan Mukundan has been appointed as chief officer for direct marketing, bancassurance, DRTV (direct TV channel) and group business.
Chitra will be responsible for the profitable growth in sales via these channels and for continuing to build a leadership position in the market.
The new Soongwai Chai Luey product is designed to be easy to understand and to be approved without a health check-up. The company aims to defend its No 1 ranking for a fifth year with Bt1 billion in premiums by the end of 2012.
Chitra will be responsible for the solidification of the firm’s strong business partnerships and the development of new partnerships and channels of distribution.
His experience in telemarketing and other business channels in the life-insurance industry, and his previous roles in many countries across Southeast Asia, will smooth his management duties, the firm said.
Chitra said the company’s direct-marketing channel had provided the biggest share of gross written premiums and first-year premiums. First-year premiums from this channel totalled Bt250 million in the first quarter this year.
“For business direction and strategy in the second half of 2012, the company continues to strengthen its direct-marketing channel with a focus on DRTV as its core strategy. It realises that DRTV has high potential for growth and the capability to deliver product information to cover all targeted audiences,” Chitra said, adding that the main target group was the elderly.
Four key strategies have been undertaken to achieve the firm’s goals: deepening and expanding the network of partners; focusing on operational excellence; becoming the best in the industry in terms of compliance with direct-marketing regulations; and offering a wide variety of insurance products to meet all customers’ needs, he said.
