HDFC Life Concall was today at 5:00 pm
Here are the key highlights of the Conference call π
@dmuthuk @datta_arvind @Vivek_Investor @connectgurmeet @Prakashplutus
Here are the key highlights of the Conference call π
@dmuthuk @datta_arvind @Vivek_Investor @connectgurmeet @Prakashplutus
Data facts:
β’ Opening of economy and there is uplift now from corona
β’ Market shares of company has increase 2.35. Currently at 17.5% market share.
β’ Market share of group and overall business was 24.4%.
β’ Market share product was ULIP at 30%, non Par at 37% and PAr at 33%
β’ Opening of economy and there is uplift now from corona
β’ Market shares of company has increase 2.35. Currently at 17.5% market share.
β’ Market share of group and overall business was 24.4%.
β’ Market share product was ULIP at 30%, non Par at 37% and PAr at 33%
Data facts
β’ Policy sold over 4 lacs
β’ New margin business has seen good growth
β’ Main focus now is to control cost.
β’ 48 crores set for provision of Corona, and there is no need for additional provision issue.
β’ Policy sold over 4 lacs
β’ New margin business has seen good growth
β’ Main focus now is to control cost.
β’ 48 crores set for provision of Corona, and there is no need for additional provision issue.
Cases from COVID:
β’ 418 individual case and 28 company based case
β’ 45 day waiting period for Corona as per IRDA guidelines.
β’ 10 lac per customer is brought on average for per customer.
β’ 418 individual case and 28 company based case
β’ 45 day waiting period for Corona as per IRDA guidelines.
β’ 10 lac per customer is brought on average for per customer.
Solvency ratio:
β’ 203% solvency ratio increased with 198% last year. This was mainly because decrease insolvency to 180% during march.
β’ Newer agent partner increased as per the target
β’ New partnership with banks: Balance partnership with Yes bank for distribution network
β’ 203% solvency ratio increased with 198% last year. This was mainly because decrease insolvency to 180% during march.
β’ Newer agent partner increased as per the target
β’ New partnership with banks: Balance partnership with Yes bank for distribution network
Technology
β’ Video based sales enablement for distribution network.
β’ This has seen good growth in tier 2 and tier 3 cities
Digital + human interaction(WeServe) solving query via video call
β’ Video based sales enablement for distribution network.
β’ This has seen good growth in tier 2 and tier 3 cities
Digital + human interaction(WeServe) solving query via video call
β’ Strong growth 11% from bank assurance sector.
β’ Company still under doldrums and don't want to be hell bound on stating double digit growth.
β’ Strong product mix is the main focus of the company
β’ Economic variance reduced, because of downward slope of yield curve.
β’ Company still under doldrums and don't want to be hell bound on stating double digit growth.
β’ Strong product mix is the main focus of the company
β’ Economic variance reduced, because of downward slope of yield curve.
Products Segment:
β’ ULIP assumption were tighten. Due to ULIP target was missed, however there has been good recovery and coming to target of pre-covid levels. ULIP growth is going down.
β’ Bank assurance sector has done well for par and non part segment.
β’ ULIP assumption were tighten. Due to ULIP target was missed, however there has been good recovery and coming to target of pre-covid levels. ULIP growth is going down.
β’ Bank assurance sector has done well for par and non part segment.
β’ Par segment is going good.
However, company is looking all the 3 classification on holistic basis, whichever goes up remain main focus is to grow the business.
β’ New products are launched which can give flexibility with the claims assumed by actuarial.
However, company is looking all the 3 classification on holistic basis, whichever goes up remain main focus is to grow the business.
β’ New products are launched which can give flexibility with the claims assumed by actuarial.
β’ Market share in hdfc bank is 65-70% and company is constantly increasing its share in the HDFC bank.
β’ LP remain continue to grow
Focus:
β’ First to improve partner channels
β’ Focus on integrating digital improvement with partners
β’ Increase the partner other than HDFC
β’ LP remain continue to grow
Focus:
β’ First to improve partner channels
β’ Focus on integrating digital improvement with partners
β’ Increase the partner other than HDFC
β’ Credit product margins and annuity products are continue to grow well.
β’ Persistence ratio
Company is able to reach out customers for the premium collection driving this ratio
β’ Persistence ratio
Company is able to reach out customers for the premium collection driving this ratio
Online has been around growing 14%, and Q2 was muted than Q1.
Reason: Google searches were high, however not all the customer turned up buying the policy.
β’ Savings of customer is going up, resulted in lower claims for insurance . However company sees this issue to be short term
Reason: Google searches were high, however not all the customer turned up buying the policy.
β’ Savings of customer is going up, resulted in lower claims for insurance . However company sees this issue to be short term
There can been trend downward for the coming period, however on a longer note there will be good growth on longer period.
Risk underwriting:
β’ Company has dynamic underwriting parameters and they keep changing it with the respective factors.
Risk underwriting:
β’ Company has dynamic underwriting parameters and they keep changing it with the respective factors.
Non Hdfc bank growth
β’ HDFC bank has grown well. Agency channel has seen 6% growth. However same growth was not in the coming quarter. This was mainly because of base effect, which will be out looked in future periods
β’ Bandhan, PNB banks has been growth driver, not as expected
β’ HDFC bank has grown well. Agency channel has seen 6% growth. However same growth was not in the coming quarter. This was mainly because of base effect, which will be out looked in future periods
β’ Bandhan, PNB banks has been growth driver, not as expected
β’ Some of the banker partners is going to pre-covid levels and some are still settling with pressure.
Marketing strategy: Campaign on term and annuity is carried and branding activity on both tier 2 and tier 3 is growing in order to grab the untap market
Marketing strategy: Campaign on term and annuity is carried and branding activity on both tier 2 and tier 3 is growing in order to grab the untap market
Products demand after COVID:
β’ First realization is going on health, and then on Life. These are high consumer products
β’ Next demand comes from ULIP which takes time.
Next focus is how to reach to customer: Company is considering technology shift more on this
β’ First realization is going on health, and then on Life. These are high consumer products
β’ Next demand comes from ULIP which takes time.
Next focus is how to reach to customer: Company is considering technology shift more on this
β’ Agency growth: This was due to last capability program, transferring offline branch to online and other digitization with training.
β’ Operating Return on EV reducing: This was because of unwind and reduction of interest rate in the past few years has been the reason
β’ Operating Return on EV reducing: This was because of unwind and reduction of interest rate in the past few years has been the reason
β’ β’ β’
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