Billion Dollar Marketing

  • Course Details
  • Learning Outcome
  • Equipment

Course Details

Insurance product is another type of financial services. Unlike banks, their product is short-tail, and heavily rely middle-man to bring in premium income. More than 60% of sales come from a single channel; insurance broker.

The simulation was designed to educate marketing & sales related personnel to practice “Channel Management” while maintaining a healthy financial position; CAR ratio. Most participants understand their day-to-day operation, but unable to link their jobs to linkage to the company bottom line and CAR ratio.

Target participants are marketing executive, branch managers and sales representative where many of them had little knowledge in finance. The program offers practical view of how they should manage their sale channels and customer portfolio.

Learning Outcome

  • Develop “Channel Strategy” skills in choosing a correct mix of product, location, channel (agent, broker, tele-sales, branch, etc)

  • Practice resources allocation to maximize sales

  • Balance portfolio risk and operating cost;

    • Motor; high volume, low profit margin, high operating cost

    • Non-motor; low volume, high margin, low operating cost, high risk cost

  • Develop financial knowledge by requiring participants to create their own financial statements

  • Improve financial analysis skills to pin point area of weakness and underperform in comparison with other teams

  • Educate impact to company “Capital Adequacy Ratio” (“CAR”) as impose by RBC regulation

  • Educate “Provision for Adverse Deviation” (“PAD”) for each product, and other RBC items necessary to understand and how each decision impact CAR ratio