Sales Performance Excellence in Financial Industries

Sales Performance Excellence in Financial Industries

Quick Poll Bancassurance/Assurbanking

Sonja Hambach Head of Study for Insurances/IFAs Marcus Niebudek Head of Study for Banks

Horváth & Partner GmbH Mainzer Landstraße 41 D-60329 Frankfurt am Main

Abu Dhabi • Berlin • Budapest • Bucharest • Düsseldorf • Frankfurt • Munich • Stuttgart • Vienna • Zurich

Highland Worldwide offices in Australia, Belgium, China, France, Great Britain, Italy, the Netherlands, Singapore, Spain and the USA

www.horvath-partners.com

Sales Performance Excellence in Financial Industries – Quick Poll Bancassurance/Assurbanking © 2012 Horváth & Partners Management Consultants 1

Comments on the study and how to complete it:

Your responses will, of course, be treated with the utmost confidentiality.

The findings of the study will only be presented in summary form and anonymously. It will in no way be possible for third parties to trace any information you provide back to your company name or you personally.

It will take approx. 15 minutes to complete the questionnaire. Should you have any questions, please do not hesitate to contact either Ms. Sonja Hambach or Mr. Marcus Niebudek. You can find their contact details at the end of the questionnaire.

Further information and the questionnaire as a pdf-file can be found at www.sapex-fi.com.

Definition of terms: Bancassurance means selling insurance products via banks and savings banks. Sales staff of the re-spective insurance may be present for additional support. Bancassurance often takes the form of a sales cooperation. Occasionally, insurances even own bank affiliates or banks own insurance affiliates. Espe-cially for life insurance products, this concept has been popular. Assurbanking is the counterpart of bancassurance and describes the distribution of banking products via insurances. Please return the completed questionnaire to us… … by post to: Horváth & Partner GmbH Sales Performance Excellence Mainzer Landstraße 41 D-60329 Frankfurt am Main … by fax to: Horváth & Partner GmbH Sales Performance Excellence +49 69 2695898-99 … by e-mail to: [email protected] Thank you very much for your participation!


Personal Details

Findings of the Study

Please tick appropriately (multiple answers permitted):

Please send me the survey results free of charge.

Please send me further information on Sales Performance Excellence events.

Contact Details

Please provide us with your contact details.

Company _______________________________________________________________________

Name _______________________________________________________________________

Function _______________________________________________________________________

Address _______________________________________________________________________

E-mail _______________________________________________________________________

Telephone _______________________________________________________________________


A. Survey

1. Please classify your company based on the following categories:

Bank/savings bank

Insurance

Hint:

Please answer this questionnaire both from a “bancassurance perspective” and an “assurbanking perspective” since your company may be active in both fields – either as a supplier of products or as a distributor.

2. Please rate both current implementation and future importance of bancassurance and assurbanking in your company.

Current implementation Future importance

None at all Low Medium High Very

high None at all Low Medium High Very

high N/A

Bancassurance Assurbanking

3. What are your main strategic interests in terms of bancassurance/assurbanking? (Multiple answers permitted)


Expansion of product portfolio/diversification Joint product development (e.g. combination product)

Utilization of the partner’s brand image

Increase in sales volume

Improvement of customer loyalty Broadening of market access

Synergy effects through shared resources

Access to additional earnings potentials

Other (please specify):

______________________


4. Please rank the following forms of organizational design of bankassurance/assurbanking with regards to their potential of success (1 = highest, 3 = lowest).


Affiliation with the same group Strategic alliance/ exclusive partnership

Open architecture/ multi-sourcing

Please state the number of your current cooperation partners (if applicable) ______________________ ______________________

5. Please rank the following brand strategies with regards to their potential of success (1 = highest, 3 = lowest).


Use of distribution partner’s brand (white labeling)

Establishment of a separate brand (e.g. umbrella-brand concept)

Retention of product partner’s brand name

6. Which of the following decision criteria do you consider crucial for choosing a cooperation partner for bankassurance/assurbanking? (Multiple answers permitted)


Regional coverage Number of sales staff Market share

Brand

Reputation

Ease of closing process Financial strength

Product portfolio

Product competence

Advisory competence


______________________


7. Please estimate the importance of the following success factors and their complexity for the imple-mentation of bancassurance/assurbanking.

Importance Complexity



high N/A

Bancassurance Design and choice of product offer

Product quality Implementation of regulatory requirements

Provision/mapping in IT Anchoring in compensation and incentive system

Integration in advisory process

Training of sales staff

Specialist support of sales staff

Commitment of top management

Securing advisory quality Protection of respective customer base

Acceptance of customers Other (please specify):

______________________

Assurbanking Design and choice of product offer

Product quality Implementation of regulatory requirements

Provision/mapping in IT Anchoring in compensation and incentive system

Integration in advisory process

Training of sales staff

Specialist support of sales staff

Commitment of top management

Securing advisory quality Protection of respective customer base

Acceptance of customers Other (please specify):

______________________


8. How is the distribution of bancassurance and assurbanking organized?


Independent advisory and sales via own sales staff Support in sales via own specialists with access to customers

Support in sales via cooperation partner’s specialists with access to customers

Transition to sales staff of cooperation partner


______________________

9. Please rate the current and future importance of the following product areas for bancassurance and assurbanking.

Current importance Future importance



high N/A

Bancassurance

Life insurance

Health insurance

Property and casualty insurance

Other (please specify): ______________________

Assurbanking

Accounts and cards

Saving and investing

Securities transaction

Funding

Construction and housing

Other (please specify): ______________________


10. How would you evaluate the development of the relevance of bancassurance/assurbanking over both the past 3 years and the next 3 years?

Relevance up to now (past 3 years)

Future relevance (next 3 years)

Has decreased Has remained constant Has increased Will decrease Will remain

constant Will increase N/A

Bancassurance

For the industry

From a customer’s perspective

Assurbanking

For the industry

From a customer’s perspective


The study “Sales Performance Excellence in Financial Industries” is an initiative of Horváth & Partners.

Horváth & Partners are independent, international management consultants with over 400 highly qualified employees. Founded in 1981 and headquartered in Stuttgart, Germany, we have offices at locations in Germany, Austria, Hungary, Rumania, Switzerland and the United Arab Emirates. Moreover, our membership of the international consulting network “Highland Worldwide” strengthens our ability to undertake consulting projects with the highest professional expertise and precise knowledge of local circumstances in important economic regions of the world.

Our core competences lie in the fields of Corporate Performance Management and Performance Optimization – at overall company level, in its divisions and in the fields of strategy, organization, sales, operations, management accounting and controlling, finance, and IT. Horváth & Partners stands for project results which create sustainable benefit. For this reason, we accompany our clients from developing the business concept through to anchoring it in processes and systems.

Do you have any questions?

We look forward to hearing from you!

Head of Study for Insurances/IFAs: Head of Study for Banks:

Sonja Hambach Marcus Niebudek

Senior Project Manager Senior Project Manager

Horváth & Partner GmbH Horváth & Partner GmbH Cecilienallee 10 Mainzer Landstraße 41 D-40474 Düsseldorf D-60329 Frankfurt am Main

Phone: +49 211 577908-0 Phone: +49 69 2695898-0 Mobile: +49 162 2786376 Mobile: +49 162 2886054

E-mail: [email protected] E-mail: [email protected]

Thank you very much for your participation!

Documents

Sales Performance Excellence in Financial Industries