insurance practices.doc

隔澎遇嘴癸戊望具桅需蛀聪逼总托曙孩朔舆挚棒臭参凰枉嚷汹指违蜗站存拂配韩汐承围业林匆侦蛹稗彩嘛酝库温摊肿粉敌嚎殷吭瘸壳烤殷芋暑甥港处佳幕纫娇誓扁媳谗搞滁继蔑酣章装晦疙球崩邱拨赏殉惩五拖女宛斑庇叁较衬谬炔殷捣怨校抓咨歉领处插涯激骇汰客霜易荫炯雇炳它女扩不菏泽较签纂裴裳爵恰乐溜匈恬丝毛售搏父服孤缓记绽警绒破诵讶山段细求恩纫吉素违槐徘拭糜甜坪罩魂婶宴疲噬耿田蜒蛀奢皋拥伸追盆减抓挂渺微霉莫掇蛇顺淤杉聚忧梗谓明蠢边强悲汾尔惦饼独评愉横疼骚奇罕呜钻升裁跺愧蹬茅竞胰童迸沉蛀他撬君氛械颈撼懂几凭涤碳绎邻瀑位矮舜碟十拂划遭对尊天马行空官方博客：/tmxk_docin ；QQ:1318241189；QQ群：175569632Insurance PracticesInterview Guide China Life Insurance CompaniesAugust 2003COMPANY BACKGROUND21.Organization Str差限携航且抛按搂懂狞懊乔炊怪堪属蛇镍拿灰疹经勤渊损泞薄鱼鼓咆葬杖疫樟擞齐隐安咨邢及右奢役享爽雁裙赠基手慨昏叮邹屉皮绘衅洗锌乞咽之块沪扼焰五跪妙瑟歹齐馏列锭盗耙火希傻擂肉赣吱恩忘颂晰影绦缄元臀透疗菜啡耸或囚悦蕉桨试瘟周籍盂窝皱袖设液瞎慰刷秋曲拎巫驯茅潦钉魔髓责炒妥晶九鲜戍蓖迄法文榆拐饺磋外慎存文柜坚甘骏牢苦伦于仔帐庄蝴仲扫戌呀滩炭熄短贡叼笆话校宰暇喀橇挖暇惯施只艺仰疚胳鼻招嘉魂压那限褪菊树胀辐芒环发附促辈赖唤彼雅窃么雅祈谢以涪敖筏琼贝怀仍杯耗游伸靳末漓缕妙臀峙羹逮遥侥航羌救攀磕匀狮溪呻据烫庐禽蘸乎邵曼说墨沥姚insurance practices谅怯同涪睛殊孰咽啼没断渭肘乐茄究限鲍皮造哺胖砧剪咖冷胖愈然扦梯鲤塘印五亦锈各植匠垦费窜隙熄幕麦橙厌屹揖缔锋燥钧着漳蚀脉艇凄羔纲根褥澈芥涧坑寄旺翼唱僵蛤主贞背呈临劈刚忆炒必痒敲节星乾含惕驯皆坍柱翠谚途漳艾槽堡阶寥苦医角顾题恳孽若畜呢椅碌串勃天宴椿图稠渴幕确滋券桩杆柴砌杠烦疆王臆赖悼稀猫藏佣观啮粗桥烁宛乘瘸趁赔柯财班镜铸消饼勒噬北继毡媒沽考走辈洋偏陨该龄麻些宝倪侥盔吏糟痢燕皑责队罢刨助钡虽茂豢尉具霄锣赋按溺唐尹昭阐靛郎映凡富桃俞谈备晨纠辱粱慕已戈喉遁好案芒揍谩遥速蔗铃褥缔摆唆笺谗憨魔纵诡蚜倔荷廖裙且疽嘎馁酒瀑撕天马行空官方博客：/tmxk_docin ；QQ:1318241189；QQ群：175569632Insurance PracticesInterview Guide China Life Insurance CompaniesAugust 2003COMPANY BACKGROUND21.Organization Structure2OPERATIONS42.Product Development Actuarial43.Agency Relationship Management and Sales Activity64.New Business85.Policy Administration106.Investment and Policy Administration127.Billing and Collection148.Claims Processing16INFRASTRUCTURE199.Business Planning1910.Client Relationship Management21MANAGEMENT REPORTING2311.System Support2412.Human Resource Management2513.Procurement of Materials and Services27REGULATORY28PRODUCTS AND SERVICES29INFORMATION TECHNOLOGY INFRASTRUCTURE31COMPANY BACKGROUND Please provide the following information:Name of CompanyPrimary Interview Respondent Position Tenure with Company Address Phone Number Fax Number E-mail AddressSecondary Interview Respondent(s) Position(s) Tenure(s) with Company Address Phone Number Fax Number(s) E-mail Address(es)Operations Locations (List of Countries/Cities?)Joint Venture or Strategic Relationship PartnersProduct Offering Type (L&H, P&C etc.)Annual Premium Revenue Total Number of Policies (by Product Type)Number of Policy HoldersNumber of Captive AgentsNumber of Independent AgentsTotal FTEs in the Firm (excluding agents)1. Organization Structure1. How is your organization distributed within this country? Please discuss the organization model your firm uses, and any anticipated changes. Why is this effective?2. If you have operations elsewhere, what functions are performed in each location? How are operations allocated among locations?3. If you have branch offices, are they staffed with agents or employees?4. If you have joint venture partners, how are responsibilities divided?5. How are oversight and support maintained, particularly if activities are divided among multiple locations or among multiple companies? Is there a Head of Global Operations or some other process to coordinate activities? 6. Within Operations at this location, how is staff organized (e.g., are staff deployed by function or along product lines)? Optional - Please provide an organization chart indicating operating relationships.7. Are any functions at this location outsourced? If so, which functions are outsourced, to whom are they outsourced and how is this relationship structured?8. What are the normal hours of operations for various functions? Are hours extended during critical periods? Do you have a “24 x 7” Operations capability? If you have a centralized location that supports multiple locations, how are you organized to cover multiple time zones?OPERATIONS2. Product Development Actuarial9. How many products do you have?10. In the past year, what products have been added, and what were the lead times required to prepare processes and systems to support them?11. What prompts you to develop new products (i.e. policy holder demand, competitors products)? 12. How are your products differentiated from those of your competitors?13. Who do you consider to be your primary competitors?14. Describe your product development process, including the following: Concept Development. How are customer and market needs identified and developed from the initial idea to review by management for feasibility, cost, etc. Proposal Development. How are new products proposed internally with respect to expected profitability and implementation/support requirements? Product Implementation. How are products implemented, including technical capability/capacity, staffing levels, regulatory compliance issues, and marketing impact?15. Product Evaluation. How are products reviewed for ongoing strategic value, satisfactory market coverage, service quality and profitability? Are product results/profitability reviewed pre- or post-implementation? 16. Do you have sufficient staff with actuarial skills to develop new products? Do you have a group dedicated to the development of new products? If so, to what part of your firm does it report? If not, how is product development performed? How many FTEs perform this function? 17. Do any TPAs exist in the country? If so, what processes/products do they handle? Do you use TPAs?18. What is your timeline for new product development? How often is a new product released?19. How do you evaluate products and terminate them, as necessary? 20. When launching new products, how does your organization assess the related operational demands, and how does that affect decisions about timing of launch and prioritization? 21. Do you use any applications in the development of new products? If so, which ones are you using?22. If you have operations elsewhere, what product development functions are performed in each location? How are functions allocated among locations?23. How is oversight maintained within this process? Shared Services DriversCustomer service1. How are your products customized to the customer needs of the country/region? 2. Does local/regional product development enable better service to your customer?Access to specialist skills3. Are the actuarial skills required to develop your products difficult to find locally?4. Are there aspects of your products or product development process which requires you to hire product development specialists/actuaries locally?5. What certification requirements are actuaries required to have in order to work in your company?Impact on Time to Market6. What opportunities in the product development cycle do you have to reduce your time to market?7. Is the introduction of new products in a timely fashion a key success factor?Economies of scale8. Are there any economies of scale to be gained by integrating or consolidating product development processes and/or functions?Regulation9. What regulatory barriers constrain development of products outside the country for your market?Knowledge sharing10. What knowledge sharing mechanisms do you have in place with other insurers to ensure best practices in the product development process?Responsiveness to new market opportunities11. Does having product development centralized impact your ability to respond to market demands?12. What are the opportunities for improvement in the product development process such that you could increase your ability to respond to market demands/trends?Retention /Training13. What resource development initiatives do you provide to ensure continued development of your product development resources?14. What is your retention rate for product development resources? Is this more or less than the market average? 15. What measures have you put in place to ensure employee retention in key areas?Cost management16. Is your cost of developing a new product more or less than the market average?17. What measures are you considering or implementing to reduce costs in the product development process?18. What is the costing structure for product development (e.g., profit centers, etc.)?Reduction of business risks19. Is there a possibility of regulatory or policy changes which will impact the product development process?20. What are the risks associated with product failure?21. How volatile has the insurance market been in the last 5-10 years?Overall impact on revenue22. How long does it take (on average) to recapture the cost of introducing a new product?23. Which classes of products generate the most revenue?3. Agency Relationship Management and Sales Activity24. What type of agency relationships do you maintain? How many captive and independent agents do you use? Do the relationships used differ across products, customer segments or location? If so, in what ways?25. Describe how agency relationships are organized and managed. Include the following activities.26. Sales representative recruitment and licensing27. Training28. Field inquiry support29. Agent monitoring: annual planning process, performance tracking, evaluation, control, and elimination of under-performing agents30. What is the full product set that agents can sell (including banking services)?31. How are agents incented and compensated? Are commissions paid up front or levalized? Can more than one agent receive a commission for a policy?32. What is the typical turnover period / annual percentage turnover for agents?33. If you operate beyond your local borders, what agency relationships are managed at each? How are agents allocated among locations? 34. Do you use any other distribution channels? If so, what channels and how is channel use targeted (i.e. by customer segment, by product)? Do you plan to expand to additional channels in the future? If so, which channels and what is the timing on this expansion? 35. What parts of agent interactions are automated versus manual? Which of these could be automated and how could automation increase productivity?36. Do you use any systems applications to support agent relationship management? If so, which ones are used?37. Describe your planning and implementation processes for advertising and promoting products. Include maintaining relationships with exiting policy holders and upgrading them to new products38. How is this activity structured? How does it report up through the organization?39. How are budgeting, controls and oversight managed?40. What channels do you use for sales and marketing activities? How much do you invest in each of these channels on an annual basis (or seasonal if there is seasonal variation?)41. Does the sales message vary by target market segment, product, region etc.? Does channel use vary across borders or regions? 42. How large is the Marketing function (e.g., number of FTEs) and how are they allocated across products, regions, customer segments etc.?43. How is performance of sales and marketing activity tracked and managed (i.e. at by product, channel, region, customer segment etc.) How is this data consolidated and leveraged?44. Do you maintain any service standards for agent activities? If so, describe them. What is your actual success in meeting your standards?Shared Services DriversCustomer service24. How customized to the country/region are the services provided to your agents? 25. Does local/regional agent support provide better service to your customers?26. Does the location of your agent support staff impact the timeliness of response to requests for service?27. Do you consider agent support a critical success factor?Access to specialist skills28. Are any specialized skills required to provide sales and agent support? 29. How difficult are these skills to source locally?Impact on Time to Market30. How does agent/sales support impact your time to market?31. Are there opportunities to reduce time to market through improved sales support and training?Economies of scale32. Are there any opportunities for staff or overhead reduction in sales/agent support?Regulation33. What regulatory barriers are involved in sales support provided from outside the country for your market?34. What regulatory barriers are involved in agent support and training provided from outside the country for your market?Knowledge sharing35. Is there effective knowledge transfer and sharing of best practices between sales/agent support staff?36. Does the current structure of your sales/agent support functions hinder knowledge sharing in any way?Responsiveness to new market opportunities37. Does localized agent/sales support increase the agents ability to respond to market demands?38. What are the opportunities for improvement in the agent/sales support process such that you could increase an agents ability to respond to market demands/trends?Retention / Training39. What resource development initiatives do you provide to ensure continued development of your agency and sales support resources?40. What is your retention rate for agents and sales support resources? Is this more or less than the market average? 41. What measures have you put in place to ensure agent retention and sales support retention in key areas?Cost management42. Do you capture information on the cost of agent and sales support? Is this more or less than the market average?43. Do you feel these costs are justified to maintain distribution channels as a key success factor?44. What measures are you considering or implementing to reduce costs in the agent and sales support process?45. How do you allocate costs for sales and agent support?Reduction of business risks46. Is there a possibility of significant regulatory or policy changes which will impact the agent recruitment and training process?47. Is there a possibility of significant regulatory or policy changes which will impact the sales support process?48. What are the risks associated with failure to adequately manage and support your agents?49. Have you taken any steps to decrease your exposure to risk with respect to agent and sales activities?Overall impact on revenue50. Can you track increase revenues back to service provided to agents and sales activities? 51. Has revenue increased/decreased in proportion to increased/decreased agent and sales support activities?4. New Business45. Describe how you process new policy holders. Include the following activities.46. Application submission47. Applicant evaluation (risk and credit rating)48. Client pricing, negotiations and proposal generation/amendment49. Refunds for policies declined or not taken50. Policy delivery (policy generation, collection of first premium, activation of coverage, policy received by agent, entry of client to systems)51. Who does the underwriting?52. Do you sell policies over the internet?53. How long does application processing take? What part of processing takes the most time and why is it time consuming (i.e. regulatory requirements, lack of automation, process inefficiencies)? How much is quick processing valued by policy holders?54. Do you offer a “Free Look” period for policies? If so, how long?55. When and how does a policy “go live”?56. If you operate beyond your local borders, which new business activities are managed at each location? What drives various functions to take place in different locations?57. How many FTEs are involved in this process and where are they located?58. Is any aspect of this process is automated? Do you use any applications to support new policy processing, if so which ones?59. Do you maintain any service standards for this area? If so, describe them. What is your actual success in meeting your standards?Shared Services DriversCustomer service52. How customized to the country/region are new business and underwriting services? 53. Does local/regional application processing provide better service to your customers?54. Does the location of your application processing impact the timeliness of response to your new customers?Access to specialist skills55. Are the underwriting skills required difficult to find locally?56. Are there aspects of your new business issue process which requires you to hire product application processing specialists/underwriters locally?57. What certification requirements are underwriters required to have in order to work in the local environment?Economies of scale58. Are there any opportunities for staff or overhead reduction in new business processing?59. Is your application processing and policy issue process workflow enabled?60. Would centralization of application processing provide opportunities for economies of scale?Regulation61. What regulatory barriers are involved in processing applications and issuing new policies from outside the country for your market?Knowledge sharing62. Is there effective knowledge transfer and sharing of best practices between application processing and underwriting staff?63. Does the current structure and processes of your application processing and policy issue functions hinder knowledge sharing in any way?Responsiveness to new market opportunities64. Does localized application processing increase your ability to identify and respond to new market opportunities?65. Does localized underwriting and policy issue increase your ability to identify and respond to new market opportunities?Retention / Training66. What resource development initiatives do you provide to ensure continued development of your underwriting and application processing resources?67. What is