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Slide 1

Management Orientation School

Day6

Todays Agenda Test on previous day learning Understanding & calculating months

Compensation M Compensation Right Ethical Practices and Market Conduct Activity

Test Your Learning .....

Understanding Man Months

Purpose, Process, Payoff Purpose: To understand the impact of regular recruitment on building man- months and the business Process: Understand the impact regular hiring can have on business and standards achievement Payoff: 1. Regular and continuous recruitment by the ADM 2.Be able to increase the prospects of busting business goals at the end of the year

Man- months It is the number of months an agent has worked in a year Man- months = beginning of period + contracting TerminationsYTD ( year to date) Man-months = Man-months of all previous months added together

Agent Man-months A key Driver

Higher man-months indicate higher man power

Regular recruitment is necessary to ensure quality of A&As

This will ensure that business plans are met by ensuring good case rate and case size

Agent Man-months A key Driver

Secret to increasing productivity and performance of year Team: Secret is Recruit, regularly Quality Agents One Should start appointing from January as it makes a difference at the end of the year.Beginning late, you will be hard-pressed for time you panic and compromise on quality. This affects the survival rate agents

Three- fold mantra to maximizing man-months

Recruit Regularly

Recruit Quality

Retain MoreIf you recruit nothing else matters; if you dont recruit nothing else matters !

Benefits of High Man-months Results of Maximizing Man-months from Quality & Consistent Recruitment

Higher AFYP

Higher Earnings

Higher Incentives

Challenges in building higher man-monthsLack of focus by ADM

Lack of Names

Late Recruitment

Drop outs

Low pass percentage

Check your UnderstandingSolve the case studies given in the Participant Guide.Man-months = Beginning of period + Contracting Terminations

Year to Date Man-months = man-months of all previous montha added together

M G

Purpose, Process, PayoffPurpose: To better understand the GPS for an Manager

Process: Identify The right different vectors which constitute the ADM GPA and learn how to calculate GPA

Payoff: Focus on the right parameters resulting in a profitable agency. Be able to strategize and ensure professional growth.

goal SheetsAssociate

2013-2014

GPA Parameterwelghtage50%15%10%10%15%

Goal SheetParameterwelghtage80%20%

Mission india consultancy

GPA Grid

Minimum P

2013-2014

Minimum Performance Standards (MPS)Quarterlyof Less then 1.0 on both and. Of the is of 1 on either or MFYP. He will not be a part of MPSThe Development plan process to be initiated at Level for. The development plan will be for 3 months Consequence management Process- List of falling info MPS consecutively in two Quarterly evaluations. Bottom 10% in this list will be asked to leave

ADMs confirmation CriteriaFor ADMs joining 1st of Jan 2013 onwards

Evaluation at end of Months 6

All ADMs with GPA of 1.0 or more on either QR or MFYP standard will be confirmed

ADMs not meeting the above criteria will be given a 3 month extension

Consequence management process List of ADMs not meeting above criteria in Month 9. Bottom 10% in this list asked to leave

Agent Advisor Compensation

ADM Compensation

Check Your Understanding

Right Ethical Practices and market Conduct

Purpose, Process, Payoff Purpose: To understand the importance of right ethical practices and market conduct of an agent in life insurance selling

Process: By understanding the role of an agent advisor in conducting right practices

Payoff: To sell life insurance products in an ethical to keep customer benefits as top priority

Activity :

Role-plan-Present career opportunity to Nominator and COI

Thank You