Educate Implement SWOT Analysis Strengths Challenges Strong image & knowledge of customer base Current CSR model assists in the community on a variety of levels Organic outreach to the local clientele Introduce Image of the insurance
industry is generally not high Opportunities Threats Marketing model based mainly on referrals Balance of customer value perception and premium pricing Cooperative business model has many advantages Lack of consumer understanding of risk Emerging CSR
trends provide new marketing & customer engagement techniques Analyze Modify Educate Implement Large, national providers, economies of scale and profitability Broad marketing efforts The Consumer 80.0% pursue outdoor activities Avid outdoorsman & adventurer Travels mainly with his RV Loyal customer of PEMCO
14.1% aged 65+ 38.3% non-native Native of the east coast Unaware of specific regional risks Easygoing, retired entrepreneur Spends time relaxing and volunteering in the community U.S. Census Bureau, 2014 WA. St. Rec. Office Introduce Analyze Modify Educate Implement Customer Characteristics Overarching Themes Innovative Culture Environmentally Conservative
Were a lot like you. A little different. Strong Sense of Community Active Lifestyles Favor Local & Sustainable Businesses Introduce PEMCO Campaign, C. 2010 Analyze Modify Educate Implement Trends in CSR 88% of customers think companies should try to achieve their business goals while improving society CSR Initiatives Creating efficiency in supply chain & technology
Other Causes Education, Health, Literacy, Culture Human Rights & Fair Labor Recycling & Clothing Donation Effects of climate change on coffee bean farming, sustainable sourcing Forestry, College Education for Employees Harvard Business Review Introduce Analyze Modify Educate Implement
Charitable Climate & Trends Growth Service Causes Charitable giving grew for 56% of companies between 2012 and 2014 Average contribution increased by more than 10% for 42% of those companies 47%: Direct Cash Contribution 17%: Non-Cash Contribution 36%: Service & Other Contribution Misc. Other; 31.00% Education; 29.00% Community & Economic Development; 15.00% Social Welfare & Health; 25.00% CECP.co, 2014
Introduce Analyze Modify Educate Implement Problem Create a new CSR plan for PEMCO Insurance that: is better aligned with the PEMCO image Introduce Analyze based on creative new ideas for the service sector Modify Educate
Implement Solution Overview Reorganize the existing CSR model to 1 2 Introduce create a larger impact within the company and in the community Create a new strategic CSR initiative that partners with customers in confronting uncertainty Analyze Modify Educate Implement Recommendation One | Modify the Current CSR Initiative
Introduce Analyze Modify Educate Implement The Current CSR Model Paid Time for Employees 8 hours annually paid time to participate in volunteering for a non-profit Monthly Employee Activities monthly drives to collect valuables, raise funds, gather donations Board Service lend leadership, skills and other expertise to serve on boards of nonprofit organizations Corporate Giving cash donation of 5% of the increase in surplus to local causes Introduce Analyze Modify Educate
Implement 16 in 16 16 in 16 is a year long internal company initiative and marketing effort that reignites employee volunteer efforts, employee moral programs and increases the annual incremental give. The program establishes a recognizable internal CSR program & increased image outside of PEMCO. Introduce Analyze Modify Educate Implement 16 in 16 Volunteer & Service Only 3% of employees nationally take advantage of similar volunteering offers 1 in 2 employees report paid volunteering as the best social tactic for increasing employee satisfaction 8 Hours: Compensated Volunteering at the Non-Profit of Employees Choosing 8 Hours: Company-Wide Service Effort With Chosen Local Charity 16 Total Annual Paid Volunteer Hours
Expected Outcomes (juniorachievement.org): 1. Increased Employee Retention Rates 2. Increase Job Satisfaction 3. Increased Positive Word of Mouth Increases VolunteeringRelated Wages from $127K to $255K Realized Worth Introduce Analyze Modify Educate Implement 16 in 16 Charitable Give Put The Power To Choose In The Customers Hands PEMCO Analyzes Values and Mission for Alignment Customers Propose Local Non-Profit Organizations
2016 Giving Increase Increase the give from 5% to 16% of the change in surplus Customers Choose Annual Non-Profit Via Online Voting Breakdown of Corp. Giving in terms of Revenue MIN Total Amount of Donation Raised from Around $250,000 to $750,000 Q1 M Q3 0.11% 0.20% PEMCO Pre-2016 Give MAX
PEMCO 2016 Give CECP.com, 2014 Introduce Analyze Modify Educate Implement Recommendation Two| Educate the Community Introduce Analyze Modify Educate Implement Asset Protection Program (APP) The Asset Protection Program partners with customers
in the reduction of personal and asset risk through three strategies tailored to each of PEMCOs insurance offerings: 1 Property Risk Assessment 2 Defensive Driving Courses Safe Practice Education Series 3 Partner With Customers through Risk Mediation Introduce Analyze Modify Educate Implement Risk Assessment Assess Educate
Mediate Personal Risk Consultants work with you at the property to identify the specific vulnerabilities Risk Consultants provide a report that assists in the quoting process and is given to PEMCO and the customer Risk Consultants provide educational resources through the Safe Practice Video & Education Series specific to the identified hazards in your home Based on the report prepared by Risk Consultants, additional resources and education tools will be provided to assist in risk mediation Introduce Analyze Modify Educate Risks Specific to Property Fire Burglary Flood Earthquake
Renter Liability By improving safety of 600 homes, we have reduced 70% of seismic risk. -Adela Caceres Del Carpio, Ministry of Education, Peru Implement Driving Courses Safe driving courses are associated with up to 40% reduction in fatal and injury-causing accidents Regional Partner The Safe Driving Program Elective program that allows drivers to pursue individualized education on safe driving practices Courses are optional but would allow PEMCO to offer specific discounts based on risk factors cdc.gov, 2015 Introduce Analyze
Modify Educate Implement Safe Practice Education Series A multimedia education and marketing series designed to Partner with Customers in reducing the risk in their everyday lives, hosted by the Northwestern Profiles Video | Print | Promotional SCOMMUTER will host a series discussing how to safely operate a moped Introduce WALLA WINE WOMAN instructs on how to alleviate fire hazards when cooking Analyze Modify Educate 4-WAY STOP GUY teaches safe
highway driving practices Implement Safe Practice Distribution & Benefits Variety of Distribution Methods & Platforms Referral Engagement Partner with customers to spread the Safe Practice Series Print Media & Billboards Customers who refer new customers through the Safe Practice Series are recognized through a gift to the chosen non-profit in their name from the existing gift structure Commercial & Television Grassroots Engagement: Social Media Introduce Analyze Modify
Educate Implement Insurance Alignment Flexible Education Across All Service Lines Offering Driving Courses Safe Practice Education Auto Insurance Y Y Risk Assessment Home Insurance Y Y Renter Insurance
Y Y Condo Insurance Y Y Boat Insurance Y Y Motorcycle/Scooter Insurance Y Y RV/Trailer Insurance Y Y
Y Y Y Earthquake Insurance Introduce Analyze Modify Educate Implement Associated Program Costs Asset Protection Program Customer Costs Defensive Driving Courses $30.50 Risk Assessment
$42.84 Safe Practice Program Total Cost/Customer Less Elective Costs $0.07 $73.40 $42.90 Rollout In Years 1 2 3 4 5 6 7 8 9 10 Total Adoption Rate 5% 15% 25% $748,721.98 $2,246,165.93 $3,743,609.88 $374,360.99 $1,123,082.96 $1,871,804.94
$249,573.99 $748,721.98 $1,247,869.96 $187,180.49 $561,541.48 $935,902.47 $149,744.40 $449,233.19 $748,721.98 $124,787.00 $374,360.99 $623,934.98 $106,960.28 $320,880.85 $534,801.41 $93,590.25 $280,770.74 $467,951.23 $83,191.33 $249,573.99 $415,956.65 $74,872.20 $224,616.59 $374,360.99 Assuming a CSR budget between $100,000 and $400,000, rollout can be achieved between 5 & 10 years for between 5% & 20% of customers Introduce Analyze Modify Educate Implement Long Term Benefits 1 Decreased risky behavior of customers: Inherently good for the bottom line but difficult to quantify
2 Positive Growth for Consumer Lifetime Value: Companies with rigorous CSR initiatives & referral programs experience 2-5% increase in customer base & loyalty Present Value of Inc. Revs. EXPECTED PolicY GROWTH WITH INITIAVE IMPLEMENTATION $8,729,255.07 432972.86 $8,623,988.61 424483.2 $8,520,233.54 416160 408000 $8,417,969.10 400000 2016 $8,317,174.81 2017
Implementation Introduce Analyze Modify Educate Implement Interface Analysis People Profit Produc t 1/2 of insurance customers want increased online interaction with insurance providers 2-5% year-over-year customer base
growth in CSR brands 16 in'16 further supports existing community involvement efforts Augmented customer engagement cycle Creating a corporate culture around partnership contributes to customer loyalty Risk mediation techniques increase bottom line at marginal one-time cost Perception of increased value of insurance correlated with educational resources & risk
mediation Provides foundation for increased referral and marketing efforts Introduce Analyze Modify Educate Proces s Implement Timeline & Next Steps Area Q1 2016 Q2 2016 Q3 2016
Q4 2016 Q1 2017 Q2 2017 16 in 16 Initiative Risk Assessment Safe Practice Video Series Driving Course Partnership 2017 2016 Content Development Begin Marketing To Costumers Pursue Driving Course Partner Introduce
Analyze Modify Onboard Risk Consultants Begin Risk Assessments in the Quoting State Educate Implement Recap Introduce the 16 in '16 Internal Initiative 8 Hours of Paid Volunteering 8 Hours of Company-Wide Service Initiatives Lets Customer's Choose The Benefactor of Corporate Giving Partner with Customers through the Asset Protection Plan Assess Sources of Risk Educate on Best Practices Improve Skills with Safe Operation Courses
Lead Washington Enterprises in the Arena of CSR Now & In Future Introduce Analyze Modify Educate Implement Partner with Customers 16 in 16 Integrity | Responsibility | Courage Appendix SWOT Consumer Local Charities Volunteer Cons. Themes Problem State.
Driving Courses Costs Risk Asses. Cost Other Sources Long Term Ben. Rec. 2 Cost/Cust. Risk Education APP Revenues Introduce Analyze Modify Educate 16 in 16 Implement Local Charities Rec. 2 Cost/Customer
Based On Customers Who Take Advantage of Every Program Low Range Upper Range Defensive Driving Courses $21.00 $39.99 Risk Assessment $25.24 $60.44 Television/Customer $0.00 $0.01 Social Media/Referral $$Billboard & Large Reach Strategies $0.01 $0.12 Total Television Social Media Billboards $46.25 Av. Cost/Customer $100.56
73.4041152 Safe Practice Series Breakdown Lower Range Upper Range # of Households $200.00 $1,500.00 204000 $$$1,500.00 $24,999.00 Risk Assessment Cost Upper Range Case Lower Range Case *Salaries aggregated from Glassdoor.com Policy Growth Table Donation Summary Other Sources Other Risk Education Resources Fire: Insurance Institute for Business & Home Safety Disastersafety.org
Burglary: Insurance Institute for Business & Home Safety Flood: Insurance Institute for Business & Home Safety Earthquake: National Earthquake Hazards Reduction Program (NEHRP) http://www.nehrp.gov/pdf/strategic_plan_2008.pdf Renter: Insurance Institute for Business & Home Safety Liability: Insurance Institute for Business & Home Safety Proposed Local Charities Customers Propose Local Non-Profit Organizations PEMCO Analyzes Values and Mission for Alignment Customers Choose Annual Non-Profit Via Online Voting Asset Protection Plan Revenue Effects
POSSESSIVE ADJECTIVES There are 2 ways to express possession in English. Use 's to show an item belongs to a specific person Ex. Maria's sweater 2. Use a possessive adjective Ex. my sweater Instead of adding 's to the owner,...
Used to separate salt solutions. Example: Obtaining sea salt from sea water evaporation ponds Methods of Mixture Separation 7) Density Separation: More dense components sink to the bottom and less dense components float. The components cannot be soluble within each...
Tests for Corporate Advantage. The Industry Attractiveness Test. The Cost of Entry Test. The Better-off Test. Industry Attractiveness Test: It is based on the number of competitors, their relative strength, width of margins, and rate of growth in demand for...
Differentiation. Provide opportunities to expand, enrich, and challenge abilities. Consider individual learning styles and special abilities. Develop analytical thinking, problem-solving, creativity, and cooperative skills
OFERTA DE POSGRADO ESTADOS UNIDOS ECOLE NATIONALE SUPÉRIEURE DES ARTS ET INDUSTRIES TEXTILES www.ensait.fr AREAS: Todas las Científicas y Tecnológicas Contacto: Mauricio Camargo ENSAIT 9 Rue de L´ Ermitage BP 30329 F-59056 Roubaix Cedex 01 FR.
Ready to download the document? Go ahead and hit continue!