Consequent on the impending loss of business relating to OAP money orders from September 2011 there will be a drop in revenue to the circle. The drop can only be managed by sourcing additional revenue through procurement of RPLI policies.
Hence the revised RPLI targets fixed for the year 2011-12 is given below:
Name of the Sub Division | Target for number of policies | Target for I year premium (in crores) | Target for renewal year premium (in creres) | Target for total premium (in crores) |
Namakkal East | 10230 | 3.2 | 3.05 | 6.25 |
Namakkal West | 11000 | 3.4 | 3.28 | 6.68 |
Tiruchengodu | 8855 | 2.75 | 2.64 | 5.39 |
Sankari Drug | 8525 | 2.65 | 2.54 | 5.19 |
In our effort to make our establishment viable by procuring business, not all BOs have contributed, as a result of which many of the BOs in our Region continue at unremunerative level. As per rule, even a GDSMD, a GDS packer, a GDSMC can procure RPLI business which will not only help turning the office viable but also earn incentive income for the GDS.
The strategy for achieving the target takes in to account the first year premium as well renewal premium and the target may be achieved by a combination of new policies and live policies. Here one should not ignore revival of lapsed policies. Mere procurement of micro policies just to achieve the target of no of policies will not lead us anywhere. The criterion to check whether targets have been achieved is whether your Sub Division has earned premium income as mentioned above or not. Achieving target relating to number of policies should be a means to an end and not the end in itself.
Without waiting for the financial year to approach the last quarter, please take action in advance and achieve the target by December 2011.
No comments:
Post a Comment