The seasons of Indian life insurance                          •    How well do you know                               your...
Sure, it pours in March every year.              But do you know:•Which month always has second-highest sales?•Is there a ...
Which month always has the        second-highest sales?•   Options: Feb; Jan; Dec; Nov.; None of the above.
Which month always has the                      second-highest sales?•     Options: Feb; Jan; Dec; Nov.; None of the above...
The March sales skew: is it usuallysharper for LIC or for private insurers?•   Options: LIC; Private Insurers
The March sales skew: is it usuallysharper for LIC or for private insurers?•   Options: LIC; Private Insurers•   Answer: U...
Seasonality measurements need to           take into account•    Options:      –   Rate of annual growth/decline      –   ...
Seasonality index can be used for•   Options:      –    Performance assessment      –    Predicting future trends      –  ...
Thank You © IBEXI Solutions Pvt. Ltd.                           .
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The seasons of Indian life insurance - a sample

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The seasons of indian life insurance; what do the charts tell?

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Transcript of "The seasons of Indian life insurance - a sample"

  1. 1. The seasons of Indian life insurance • How well do you know your seasons? • Can you use that knowledge to run the business operations more profitably? Presented by: IBEXI Met Department ( IBEXI Analytics and BI team)
  2. 2. Sure, it pours in March every year. But do you know:•Which month always has second-highest sales?•Is there a greater skew for group vs.individuals?•For single premium or regularpremiums?•Has the skew changed over the lastfew years?•Are there outlier companies? Whatdo they tell us? • Does your guess/ intuition•How can a company use its match the data?seasonality index? • Check it out.
  3. 3. Which month always has the second-highest sales?• Options: Feb; Jan; Dec; Nov.; None of the above.
  4. 4. Which month always has the second-highest sales?• Options: Feb; Jan; Dec; Nov.; None of the above.• Answer: None of the above. – It varies from year to year! In 2006-07, it was November. In 07-08 and 08-09, it was January. In 09-10, it was December. In 10-11, it was August! And it was back to January in 11-12. 25% 20% 15% 10% 5% 0% Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
  5. 5. The March sales skew: is it usuallysharper for LIC or for private insurers?• Options: LIC; Private Insurers
  6. 6. The March sales skew: is it usuallysharper for LIC or for private insurers?• Options: LIC; Private Insurers• Answer: Usually, and on the average, private insurers have a sharper March skew than LIC. 30% 25% 20% 15% Private LIC 10% 5% 0% 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 Average
  7. 7. Seasonality measurements need to take into account• Options: – Rate of annual growth/decline – Regulatory changes – Management changes – All of the above• Answer: All of the above
  8. 8. Seasonality index can be used for• Options: – Performance assessment – Predicting future trends – Planning for temp staff for March operations – Understanding impact of product launches. – Deciding when to launch advertisement campaigns. – All of the above• Answer: All of the above – Performance assessment should be relative to the normal seasonal variation. So we should set targets by season to achieve annual targets. – Predicting future trends e.g. sales figures for the rest of the year. – Planning for temporary increases or decreases in staff, space etc. to manage predictable peaks e.g. additional staff for March operations support – To eliminate it for analysis of other effects, e.g. advertisements, product launches. – Make operational decisions for seasons – pricing, advertisements etc.
  9. 9. Thank You © IBEXI Solutions Pvt. Ltd. .

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