06/02/2020

Product
life cycle
for product
management
Cahyadi Rusnandar – Officer Development Program

01 02
Existing Condition Post Launch
Product Asessement
outline

03 04
PRODUCT NEXT STEP
MONITORING

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BNI Life’s Products

What is Product Made 144
product? Product sold 64

A goods or service that most

Bancassurance
closely meets the requirements agency
affinity
of a particular market and yields
enough profit to justify its eb
continued existence.

http://www.businessdictionary.com

Product
BNI Life initiative
Post launch
Product asessement
Development
Flow Chart
Product
Making
Preparation
Product
Launching
Preparation

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• Revamp/Repricing

Post launch assessment • Continue to sell

• Stop Selling
Decision

BOD decide is the

Quarterly Reach product meet the
Performance Target / Not target or not
Report the achievement of
Review
the product sales to BOD

• Sales Volume
• Marketing Staregy Report
• VNB to BOD

Existing post launch assessment

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Post product Launch issues

TOOLS

PEOPLE Limited supporting system

capabilities Product
Lack of Human Resource
Limited review element such as Management
complain, persistency

Lack coordination for insight Lack of anticipation for

about product after launch saturated market

Data is uncomprehensive Many Product make it hard to analyze

across division Limited Analysis for Product and

its actual segmentation
Preoccupied Priority
No Plan for after Product launch
ENVIRONMENT
METHOD

Room for Comprehensive

Product creation
improvement Product management

by design thinking
Customer profiling

Product life cycle

analysis & strategy
Capable human resource
In product development field
Dedicated system to analyze
with machine learning

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Comprehensive Product creation

high impact
Product management by design thinking

Can be Done Customer profiling Dedicated system to analyze

Semi Automaticly with machine learning
Product life cycle
analysis & strategy

Effort
Impact Low effort high effort
Capable human resource
analysis In product development field

Low impact

Product Management dashboard

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Product life cycle

Product life cycle (PLC) is the cycle through which every product goes through from
introduction to withdrawal or eventual demise.

When the product The market Where sales The product is

is brought into start to knows grow at no longer
the market the product slowing rates relevant or useful

INTRODUCTION GROWTH MATURITY DECLINED

11

All
BNI Life Sales per product
product 50000

sales 45000

summary
40000

35000

30000

25000

20000

15000

10000

5000

0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

B-LIFE OPTIMA SAVING BLIFE CASH PRO BLIFE MAKSIMA PRO BLIFE MAKSIMA Hybrid Endowment

BLIFE TERM PRO SOLUSI PINTAR SOLUSI ABADI PLUS BLIFE PERISAI PRIMA BLIFE PLAN MULTIPRO

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Analysis BNI Life Sales per product

and 45000

strategy 40000

35000

30000

Know and understand the market 25000

segmentation and when to launch 20000
the product
15000

10000

5000

0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Hybrid Endowment BLIFE PLAN MULTIPRO

INTRODUCTION GROWTH MATURITY DECLINED

13

Analysis BNI Life Sales per product

and 45000

strategy 40000

35000

30000

Product Improvement, promotion, 25000

and distribution to meet the 20000
customer satisfaction.
15000

10000

5000

0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Hybrid Endowment BLIFE PLAN MULTIPRO

INTRODUCTION GROWTH MATURITY DECLINED

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Analysis BNI Life Sales per product

and 35000

strategy 30000

25000
Expand the Number of User
& Usage Rate : 20000
• Market Modification
• Product Modification
15000
• Marketing Program Modification

10000

5000

0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
SOLUSI PINTAR SOLUSI ABADI PLUS

INTRODUCTION GROWTH MATURITY DECLINED

15

Analysis BNI Life Sales per product

and 45000

strategy 40000

35000

30000

Eliminate Weak Product retain 25000

loyals 20000

15000

10000

5000

0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
B-LIFE OPTIMA SAVING BLIFE CASH PRO BLIFE MAKSIMA PRO BLIFE MAKSIMA BLIFE PLAN MULTIPRO

INTRODUCTION GROWTH MATURITY DECLINED

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Claim Amount

Comprehensive Premium
amount
Persistency

review element

Case count complain

17

250 45000
Billions

40000
200 35000
30000
Total Premi

Claim Amount 150

25000

Premium
20000
Persistency 100
amount 15000

50 10000
5000
Case count complain
0 0
2010 2011 2012 2013 2014 2015 2016 2017 2018

TotalAnnuallized
Total AnnualizedPremium
Premium PaidofClaim
Sum Klaim Dibayar CaseCount
Case Count

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ANNUALIZED PREMIUM
NUMBER OF POLICY SURRENDER
RANGE IN IDR
25000 0.24%
0.02%
15.22%
20000

Claim Amount
15000

Premium
Persistency 10000
amount

84.52%
5000

Case count complain <10,000,000

0
1 2 3 4 5 6 7 8 9 10 11 12 10,000,000 - 120,000,000
Year # 120,000,000 - 450,000,000
>450,000,000

19

500

450

400

350

Claim Amount 300

250
Premium
Persistency 200
amount

150

100
Case count complain
50

0
Proteksi Prima BNI Life Active BNI Life Plan Multi PA Protection Plus Solusi Abadi Plus
Protection

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Penurunan NAB, 2

Miss selling, 112

Kurangnya pemahaman nasabah, 10

Claim Amount Kelalaian pada proses pengiriman surat/polis, 13

BNI Life Plan

Kelalaian pada proses pengajuan polis, 12
Premium Multi Protection
Persistency
amount Kelalaian pada proses klaim, 9

Kelalaian input data, 3

Case count complain Kelalaian dalam proses pelayanan nasabah, 1

Fraud, 2

0 20 40 60 80 100 120

21

INTERCONNECTED
ANALITICAL

DATA
INTEGRATION

AI

DATA STORAGE
CAPACITY

Next step

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Thanks!
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