Ayudhya Allianz C.P.’s customer-centric approach continues to bear fruit, as witnessed by an increase of 36% to 2,578 million baht in its first year premiums (FYP) for the first eight months of the year. This coupled with strong renewal premium has resulted in an 8% per cent increase in total overall premiums, taking the total up to 9,599 million baht. The company will continue to concentrate on the ‘six strategic pillars’ of the “Blue House Strategy” that exemplifies its theme of, ‘Ayudhya Allianz C.P. will paint every Thai house blue’.
“Our performance for the first eight months is very impressive, given that the First Year Premium sales generated leapt by 36% to 2,578 million baht,” said Mr. Stephen Appleyard, President of Ayudhya Allianz C.P. Life.
“Our three main distribution channels contributed to this success. In Direct Marketing, where we are ranked number one on new premiums, our sales increased to 510 million baht or up 26%. In agency where we are ranked third on new premium, sales jumped to 1,533 million baht or up 41%. And in bancassurance where we are ranked seventh, sales increased to 475 million baht or up 30% against the same period of the previous year.”
Mr. Appleyard believes that this success is the result of the customer-centric approach which encourages customers to have confidence in the company. It also intends to continue its PR strategies of highlighting the company’s strong financial status. At present Ayudhya Allianz C.P. has a total asset of 87,666 million baht with 1.3 million policyholders and every month the company pays claims and benefits to about 50,000 policyholders, reflection of its strong cash flow and customer service.
“One thing that makes our clients feel secure and confident in us is the fact that Allianz Group, Germany, the world’s biggest insurance and financial service provider, is a major shareholder,” said Mr. Appleyard.
He explained that Allianz Group was the only insurer credited as stable during the current financial crisis by leading credit rating agencies. Despite all the financial turmoil over the past 18 months, it is a credit to the Allianz Group’s conservative approach to business that they have been able to maintain their high credit ratings of AA from Standard & Poor credit rating, A+ credited from AM Best, and Aa3 from Moody’s.
“As one of the country’s leading insurers with the strongest financial status, Ayudhya Allianz C.P. has not been affected by the economic crisis. It enjoys continuously growth, and we have a firm determination to move ahead with our current, sustainable approach,” said Mr. Appleyard.
“We mean to paint every Thai house Blue, in accordance with our vision of “Ayudhya Allianz C.P. will provide security to every Thai family”. To achieve that, we have been focusing on Blue House Strategy with six strategic pillars, with the first three emphasizing development of three core distribution channels; agency, bancassurance, and direct marketing.”
The other three that will support the balancing in the organisation are:
1) Customer-centricity following our local value proposition of “Ayudhya Allianz C.P. provides the best service and products through life’s important moments”. It includes providing services and products to meet customers’ real demands, services centres covering all regions of the country, plus CSR activities in which customers are invited to take part and contribute back to the society.
2) Operational efficiency providing the best organizational and data management.
3) Employer of choice opening opportunities for employees to participate in training courses to be held in Thailand and abroad, with handsome benefits and welfare options.
Mr. Appleyard added that the company would continue to focus on expanding its core insurance business whilst developing new and improved customer-centric products and services.
“We know that for people to be interested in insurance, the products and services must be attractive and be able to respond to everyone of their needs,” he said. “As of now, we have best selling products to meet those criteria: they are “My Plan” designed to cover all the customers’ savings requirements and “My Life” designed to be ready-made life insurance packages consisting of protection plans “My Safety Pack” and saving plans “My Savings Pack”.
“With the high quality of our employees, our determination to improve efficiency in every distribution channel, and our customer-centric approach, the company is confident that it will soon be painting every Thai house blue. We are sure that we are going to achieve this year’s goal,” Mr. Appleyard concluded.
For more information, please contact:Ayudhya Allianz C.P. Life Pcl.
Saisamorn Lertkhochalug
Direct Line: 0-2305-7408
DC Consultants & Marketing Communications
Ltd.
Chonthicha Ungkanungdecha Tel: 0-2610-2380
[email protected]
Roongrawee Wongstissathain Tel : 0-2610-2371
[email protected]
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