Allianz banks on new agency chief

The company said that, based on Virong’s expertise and the commitment of its agents, it is confident that he will lead the channel to continued success and achieve its goal of recruiting 6,500 new codes and generating total premiums of Bt32.5 billion by the end of the year from all channels, up 8 per cent from last year. 
Bryan Smith, president and chief executive officer of Allianz Ayudhya Assurance, said: “As the new CAO, Virong will lead the agency channel to maximise overall sales growth and profitability. He has almost 30 years of experience in the life insurance business building professional agency operations throughout Thailand. 
“Combined with the commitment of the sales team, I am confident that he shall lead the channel, which is the company’s largest revenue contributor, to further growth and drive key strategies including digitalisation, protection and recruitment. The company aims to achieve a total premium of Bt32.5 billion by the end of this year.”
 Virong said the agency channel under his leadership would continue to pursue the company’s core strategy by increasing the number of quality professional agents. 
He said sustainable growth must come from a strong foundation, “which Allianz Ayudhya has already a strong foundation in all aspects”
“Whether it be a management structure, digital tools to help optimise efficiency and facilitate the operations of our agents, attractive incentives structure, including the most prominent life and health products on the market,” Virong said.
He added that for the growth strategy of the agency channel in the second half of 2017, five key areas will be focused:
lRecruitment. “We are focusing on increasing the number of agents. This year is the year of recruiting or year of recruitment, because the agents make up 50 per cent of the company’s achievements,” Virong said. “This year we are focusing on nationwide seminars under the concept of life changer. We are inviting knowledgeable speakers including successful agents to share their knowledge and inspirations to encourage the new agents to success. The seminars have attracted a lot of target groups. The company aims to create 6,500 new agents by the end of the year.
lIn-force agent management. Virong said this would be done by “analysing the current agents' work and divided them into different segments to strategically develop and promote activities appropriately for each group”.
lAgency leaders. Similar to the agent, the agency leaders are segmented by portfolio and achievement, Virong said, “so that we can design an appropriate overview of benefits and promotion. We are also looking for a new executive management to help drive the work through digital tools”.
lAgency management. “We have restructured our agency management team and training courses so that our internal employees are enhanced with skills, knowledge and capabilities to manage the agency as well as the productivity and work assessment,” Virong said.
lDigital tool. “We employ digital tools to enhance and facilitate the operations of the agents, making it more convenient and faster while raising the efficiency,” Virong said. “The highlight includes Allianz Discover, a region-wide project using across Allianz in Asia Pacific, which is a digital tool that help making the life of agent easier while offering product to customers. 
“We are confident that with all of the above proactive strategies, Allianz Ayudhya will be ready and successfully be the employee of choice for agents as the key business partners, increasing the number of new quality agents that offer best life and health protection to the Thai families.
“For the second half of the year, which is the peak season for insurance business, it is the important period of time for sales team to achieve their goals. So I hope they fully commit on their work with smooth transition and together drive the company to achieve the goals with the first year's premium from all channels at Bt6.5 billion and the total premium of Bt32.5 billion in 2017.”