Bangkok--11 Jan--Aziam Burson-Marsteller
On the back of the company’s highest month of sales in its history, ING Life Limited recently held a grand 2011 kickoff event for its nationwide tied agency team with a strong show of executive support from Acting Co-CEOs Poolap Penkitti and Andrew M. Shaw. During the event, the company outlined its 2011 strategy and announced the ambitious agency first year premium (FYP) target of 1 billion baht. The ING Life Limited strategy for the agency channel is centered on three key pillars: adding to and promoting its diverse product portfolio, recruiting young high potentials, and increasing sales management support.
In their comments to the agents and agency leaders, Acting Co-CEOs Poolap Penkitti and Andrew Shaw reaffirmed ING Life Limited’s commitment to supporting its tied agents as a critical element in the company’s overall business. The agency channel accounts for the bulk of ING Life’s premiums and is a major source of new premiums for the company. A highlight of the event involved both executives accompanied by their agency leaders using massive sledgehammers to break open the 2011 FYP target of 1 billion baht.
“In Thailand, tied agency is especially critical to our business success and this will not change for the foreseeable future,” said Acting Co-CEO Poolap Penkitti, ING Life Limited. “We continue to develop a complete range of customer-focused protection and endowment products so that our agents can offer their clients a total financial solution. We are also focusing on recruiting the best and the brightest young candidates as our new agents as well as providing ongoing professional development for our high performing agents.”
In 2011, ING Life Limited will be actively recruiting high potential individuals who are interested in becoming life insurance agents by offering a comprehensive pre-licensing training program followed by ongoing professional training, personal mentoring and career development.
A central element of ING Life Limited’s 2011 strategy for the agency channel is to broaden the range of products. In addition to its highly competitive endowment products there will be a number of protection products specifically designed to meet the needs of today’s Thai consumers and will form an important part of the agent’s portfolio of offerings. The ability to offer a more comprehensive financial planning solution for their customers will be a key advantage for ING Life Limited’s agents and this is also in line with the concept of needs-based selling which is at the heart of the company’s training program.
“From all indications, 2011 will be another very competitive year for the Thai life insurance business, but we are very confident that ING Life Limited has the experience, financial strength and strategy to continue growing our business. Central to our strategy is the agency channel and our outstanding agents who represent us across Thailand 365 days a year. Their ongoing dedication to their customers and our company ensures that they will attain or even exceed this year’s FYP target of 1 billion baht,” concluded Acting Co-CEO Poolap Penkitti.
Photo shows: Acting Co-CEOs Poolap Penkitti and Andrew M. Shaw, use massive sledgehammers to unveil the 2011 FYP target of 1 billion baht. The announcement was made at the recent ING Life Limited tied agency 2011 kickoff event held at the Sofitel Centara Grand Bangkok Hotel.
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Aziam Burson-Marsteller Tel. 0 2252 9871
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