ASN Broker Public Company Limited ASN Broker Public Company Limited Opportunity Day 11 November 2016
ASN Broker Public Company Limited Agenda I II III IV 2
ASN Broker Public Company Limited Company Overview 3
Company structure ASN Broker Public Company Limited ASN Broker Public Company Limited ( “ ASN ” ) capital registered (fully paid-up) 65 Million Baht 99.99% ASN Life Broker Company Limited (“ASNL”) capital registered (fully paid-up) 2 Million Baht ASN Broker Public Company Limited (ASN) operates the business as direct non-life insurance broker mainly focuses on motor insurance. The Company holds 99.99% shares of ASN Life Broker Company Limited (ASNL) which operates the business as life insurance broker. 4
Vision & Mission Statement ASN Broker Public Company Limited Our Vision To be the leader in insurance broker business focuses on developing world-class standard service to delight our customers and to protect the benefits of our customers, business partners, employees, shareholders, and society with fairness and integrity. Mission Statement • To create high quality standard services • To deliver highest customer satisfaction • To develop innovation in our management systems to promote efficiency with state of the art information technology • To develop highly professional personnel with the sense of entrepreneurship 5
Business Partners ASN Broker Public Company Limited ASN Company ASNL Non-Life Insurance Business Life Insurance Personal Life Personal Product Compulsory Voluntary Accident Insurance Accident Insurance Business Partners 28 Non-Life 2 Life 6
Key Company Milestones ASN Broker Public Company Limited ASN Broker Company Limited (ASN) was established with registered capital of 1.5 million baht to operate business as non-life The Company acquired 99.99% of ASNL insurance broker (tele-marketing) focused from major shareholder and ASNL then on motor insurance. becomes the Company’s Subsidiary. The Company successfully completed IPO and listed in mai on The Company increased its 12 May 2016. registered capital from 1.5 million baht to 2 million baht . 2008 2007 2011 2013 2015 2016 2005 ASN Life Broker Company Limited (ASNL) The Company registered as a Public Company on 5 th of June 2015, under the was established to operate business as life “ASN insurance broker. name Broker Public Company Limited”, and increased its registered capital to 65 million baht. The Company formed a business alliance with one of the non-life insurance company (Partner) to jointly source and manage customer database for telemarketing purpose. 7
Net Insurance Premium ASN Broker Public Company Limited Non-Life Insurance premium (by types) Life insurance premium (new/renewal) Million baht 154 314 611 658 461 Million baht 60 123 179 232 242 800 300 4% 4% 600 200 4% 400 76% 84% 4% 96% 96% 83% 100 96% 4% 200 82% 96% 86% 96% 24% 16% 17% 18% 14% 0 0 2014 2015 Q1/2016 Q2/2016 Q3/2016 2014 2015 Q1/2016 Q2/2016 Q3/2016 voluntary compulsory First year Renewal Non-Life Insurance premium ( new/renewal ) Commission rate to net premiums earned Million baht 461 50% 611 658 154 314 800 42% 40% 39% 36% 40% 31% 600 30% 61% 63% 400 16% 16% 70% 20% 17% 16% 15% 70% 200 12% 12% 13% 12% 12% 39% 37% 10% 74% 9% 8% 30% 8% 8% 8% 30% 26% 0 2014 2015 0% Q1/2016 Q2/2016 Q3/2016 2014 2015 Q1/2016 Q2/2016 Q3/2016 Non-life insurance brokerage - compulsory Non-life insurance brokerage - voluntary First year Renewal Life insurance brokerage - First year Life insurance brokerage - Renewal 8
ASN Broker Public Company Limited Targeted customers and revenue structure Main targeted customers group Non-Life (Motor) under 7 - passengers care owner Life Salary employees with 20-50 age group. 19% 1% 1% 0% 1% 2% 100% 10% 11% 10% 10% 11% 81% 90% 9% 9% 8% 11% 80% 15% 15% 12% 70% 20% 21% 12% 60% 50% 40% Non-Life Insurance Brokerage 64% 64% 60% 59% 30% 58% Life Insurance Brokerage 20% 10% 2% 2% 2% 2% 2% 0% 2014 2015 Q1/2016 Q2/2016 Q3/2016 Data as of September 30, 2016 Non - life insurance brokerage - compulsory Non - life insurance brokerage - voluntary Non - life insurance service Life insurance brokerage - first year Life insurance brokerage - renewal Life insurance service 9
Business Strategy ASN Broker Public Company Limited • Comprehensive range of insurance products with fast and reliable service and Product and fair price • Intelligent customer database management and analytical platform Service • Convenient services and payment channels • Contract between Company and insurance partners clearly spell out the Price commission and services rate • Company provides various distribution channels that can reach customers 7x24 1. Telemarketing • Company acquires customers database from third party provider and from customers database jointly managed with one of the partner Distribution • Ongoing telesales agent skills development and training Channels 2. Online Marketing • Through various online marketing technique such as Search Engine Marketing (SEM) and Social Media 3. E-Commerce • Payment installments • Publicity through company media Promotion • Promotional vouchers with retail stores 10
ASN Broker Public Company Limited Financial Performance 11
Company and Subsidiary Revenue ASN Broker Public Company Limited Total income Gross margins by business Million baht 153 161 39 42 79 82 118 123 70% 180 2% 160 1% 60% 58% 54% 57% 50% 53% 22% 140 26% 51% 2% 50% 45% 1% 120 19% 38% 23% 100 40% 36% 31% 37% 37% 1% 1% 30% 80 29% 29% 19% 23% 30% 29% 76% 60 73% 2% 80% 1% 76% 20% 40 19% 23% 80% 76% 20 79% 76% 10% 0 0% Other Life Insurance Brokerage Services Non-Life Insurance Brokerage Services Non-Life Insurance Brokerage Services Life Insurance Brokerage Services 12
Revenue per Telesales Agent ASN Broker Public Company Limited Q1'2015 Q2'2015 Q3'2015 Q4'2015 Q1'2016 Q2'2016 Q3'2016 Insurance broker and service income (MB.) 40.00 38.10 38.40 40.70 38.90 41.70 40.23 Telesales (Person) 229 259 229 218 180 192 203 Insurance broker income per Telesales (MB.) 0.175 0.147 0.168 0.187 0.216 0.217 0.198 Insurance broker and service income per Telesales 0.250 0.200 0.216 0.217 0.198 0.187 0.175 0.150 0.168 0.147 Insurance broker and service income per Telesales 0.100 0.050 0.000 Q1'2015 Q2'2015 Q3'2015 Q4'2015 Q1'2016 Q2'2016 Q3'2016 13
Profit margins ASN Broker Public Company Limited Profit Profit Margin Million baht 50% 60 NP ↑ 40% 57 40% 41% 50 41% 36% 40% 50 35% 47 31% 32% 34% 40 40 NP ↑ 17% 30% 33 30 31 19% 18% 27 27 27 17% 20% 20% 17% 20% 25 NP 0% 13% 20 21 21 15% 18% 19 17% 17% 17 17 15% 15% 15 14% 15 14 13% 14 10% 10 11% 9 12 8 7 7 - 0% Gross Profit Operating Profit Net Profit Gross Profit Margin Operating Profit Margin Net Profit Margin 14
Q3 2016 MD&A ASN Broker Public Company Limited Key Highlights; • In the first nine months of 2016, the Company recorded total revenues of THB 122.75 million , rising from the corresponding period of 2015 by THB 4.71 million or about 4.0%. • The Company posted a gross profit of THB 50.02 million and a gross profit margin of 40.8% , which grew from 33.8% recorded in the same period of 2015. • Net profit for the nine-month period as of Q3/2016 totaled THB 21.27 million, soaring by THB 6.14 million or about 40.6% year-on-year due to the total revenue growth and slight drop in cost and expenses of services. 15
ASN Broker Public Company Limited Investment Highlights 16
Why invests in ASN ? ASN Broker Public Company Limited • ASN is a well established insurance broker with proven services quality and fair price • Experienced executive team in insurance brokerage business for more than 10 years • Partnerships with leading Non-life and Life insurance business partners • State of the art information technology in insurance brokerage business, Customer database management, and analytical platform • E-Commerce Platform • Decent gross profit margin at 35.51%, 31.29%, 35.90% and 40.75% during 2013-Q3/2016 • Low D/E ratio 17
Why invests in ASN? ASN Broker Public Company Limited Opportunity to acquire more market share in insurance industry Totally insurance premium market size for motor and life insurance was 658,062 million baht in 2015 The company has the opportunity to expand market share; Motor Life Insurance Insurance premium premium Total The value of total premium in insurance industry (MB ) 120,780 537,282 658,062 The value of total premium sold through by company (MB) 658 242 900 The Percentage of premiums sold through by 0.54 0.05 0.14 company total premiums in the industry (% ) 64% of motor insurance was sold through brokers and telemarketing 18
ASN Broker Public Company Limited Key Developments 19
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