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FV Strategy (Competitors (Formosa/Lockton/Eagle Ocean (Commisson from…
FV Strategy
Competitors
Giant Ocean
Formosa
Sun Rise
SOP
MS Amlin
Eagle Ocean
Formosa/Lockton/Eagle Ocean
Commisson from underwriters 20% only
Great American
Fubon P&I
LINE strategy
Other sales initiatives
Periodical article
Seminar
China_Wechat
Ice cream coupon
information to post (ex squid sale)
Product
Standalone P&I
Hydor
Sunderland
Combined H&M + P&I
Sunderland
Standalone H&M too?
H&M coverage - better wider than Total Loss?
Hull
Business Model/Challenges
Removal of moral hazards
No local adjusters
claims - no local surveyors
Valuation of vessels against insured values
No funny business
Commission to producers?Provide incentives? How to put their interests in line with ours?
Steel? FRP? others 誰的風險高? How do we decide what risks to accept?
How to avoid being anti-selected?
AP : Lack of officers' license + survey issue
To clarify Fishing License issue
How to deal with our existing P&I business? Just to renew but add Sunderland?
What is our business model?
Who are our potential Hull clients?
Support a local hull inusrers as RI?
Direct?
Market
Sunderland
5% commission + profit sharing?
Core Solution
P&I + Hull?
Only insure their H&M if we have the P&I
Direct accounts
Koo's Fishery
via Helen?
陳董
Marketing
Big seminars
Small seminars
Invite Chailease to our seminar
Producing Channels
Existing Producers
Fubon Kao
Miss Tu
Small owners group seminar?
Hung Hwa Rosario
CTX support both H&M and P&I since TFMI not doing marine?
New Channel/New Producers
Cathay Kaohsiung
We support both H&M and P&I
Daniel Wang?
陳俊誠
中租廸和
金財滿_waiting for 黃思漢
Jointly organize marketing event?
Oscar/Mingtai 東港陳英國
和泰?
Andy@SK
TLG?
豐群水產
Fishing Cooperation companies
Crew manning agents
Ship's supply companies
汰建權代理
High sea bunker supply
commisson %?
Follow up on all strategies is KING !!!
SWOT Analysis
Weaknesses
Not enough direct accounts and producers
We share the fate with hull underwriters so can only write profitable business
But local hull underwriters are never short of capacity for profitable business
Local hull insurers would only give us bad business if we work with them as RI.
CTX has no local people in KHH
Insufficient knowledge about the fishing vessel market
Highly rely on producers
Opportunities
Guy Pierpoint leaving Osprey?
Toyota?
Dong Gang?
Sunderland Hull
Strength
Hull capacity
P&I - two good securities
Threats
Upset Fubon?
Traditional Type Producers
Uncoventional Type Producers