LIFE INSURANCE DISTRIBUTION in UKRAINE Pavol Norulák CEO, KD Life Ukraine UKRAINIAN INSURANCE FORUM Kyiv, June 4 th, 2009
Which distribution channels are the most effective in crisis conditions? & Building a successful sales network: Which factors should be taken into account?
NO DISTRIBUTION = NO BUSINESS
Existing distribution models CAPTIVE DISTR. • Bank offices • captive MLM • captive Agency • the same owner(s) INDEPENDENT • Diversified distribution channels or • No distribution at all
MLM Brokers: Agency in different way, future potential • • History and image of MLM in CEE Motivation “career” driven Commission income opportunity Organization and discipline Training and development People turnover, professional level Long term prospective (CE experience) Most effective – not manageable
Agency network: Hopes and Ukrainian reality • • History and image of Agent profession Motivation “job” driven Commission income pressure Organization and discipline Training and development People turnover, professional level Long term prospective (CE experience) Costly, lower efficiency – but manageable
Group insurance and related: Who needs current practice and why? • • Real needs vs. additional profits Taxation issues Insured person benefits Very effective (for some players) – competitive advantages hidden
Bank assurance: Captive players vs. real competitors • Real needs vs. additional profits. • “Competition” for individual clients in the banks (“Stand by” agents) • Trade-offs and dumping (deposits) • Long run, great risk – considerable know-how and resources needed.
So, what to do? • • • Diversify, diversify! Support. Professionalize. Create and lose. Don’t buy (what you can’t own). Lobby
THANK YOU FOR YOUR ATTENTION! pavol. norulak@kd-life. com. ua
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