Discovery in Chinese acquisition

first_img2 December 2009South African healthcare insurer Discovery has announced its intention to expand into China with the acquisition of a 24.99% stake in Ping An Health Insurance.While China’s private health insurance market is still nascent, there is strong growth potential – in 2007, gross written premiums were approximately 19-billion Yuan (R21-billion), while McKinsey & Company estimates that in 2008, private healthcare premiums reached approximately 55-billion Yuan (R59-billion).The Chinese company is owned by Ping An Insurance, the second largest insurer in China with a market capitalisation of 292-billion Yuan (about R319-billion).“Ping An is an excellent partner,” Discovery CEO Adrian Gore said in a statement this week. “The group is a leader in the Chinese insurance market, providing immediate scale, brand and distribution capability in this rapidly growing market.”Social health insurance limitationsWhile large portions of the Chinese population are covered by the Social Health Insurance (SHI) system, this has strict coverage caps and co-payments, and there is inadequate access to top-tier hospitals and healthcare facilities.According to Discovery, this inadequate cover, coupled with increasing consumer awareness about the need for preventive healthcare, has created demand for private medical insurance.The growing disposable income amongst the 25-40 million middle-class households means many consumers can afford top-up cover, while there is also increasing demand for cover for private healthcare facilities, diagnostics and branded drugs that fall outside the limited SHI schedule of benefits.According to Discovery, the Chinese government recognises the limitations of the SHI, and through their reform process, is encouraging private healthcare insurance providers to play an active role in developing a multi-level health insurance system.Ping An Health currently holds one of a limited number of health insurance licences issued by the Chinese Insurance Regulatory Commission.Middle and upper class customers“Ping An Group currently has a 30% share of the ‘riders’ or ‘supplementary’ private health insurance market,” said Gore. “In 2005, Ping An grasped the enormous growth opportunity and potential of the comprehensive health insurance market, and Ping An Health was established in Shanghai.”Ping An Health’s products and services are primarily aimed at middle and upper income customers, and it has branches in Shanghai, Beijing and Guangzhou. It has recorded significant growth over the last three years with sales increasing more than 400% over the period.“Ping An Health is a fast-growing, well capitalised business,” said Gore. “We are confident that it will be able to maintain its growth trajectory as the Chinese health insurance market develops and it is able to leverage off Ping An group’s comprehensive distribution network and scale in the Chinese market.”The conclusion of the transaction is subject to definitive agreement between the parties, following which it would be subject to the requisite regulatory approvals and other conditions precedent.SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

World Cup Becomes Most Popular Web Event Ever

first_imgFacebook is Becoming Less Personal and More Pro… Tags:#Real-Time Web#Social Web#web Related Posts deane rimerman The Dos and Don’ts of Brand Awareness Videos Guide to Performing Bulk Email Verification A Comprehensive Guide to a Content Audit The 2010 FIFA World Cup is now the most popular event in Web history. Record usage began last Friday before the wins and losses. Not since Obama’s election day victory has the Web swayed under a greater burden of Internet-connected hope.The official FIFA World Cup website is currently receiving as many page views as Facebook. For all of us creators of the Web it’s a great time to learn more about real-time visualizations as well as how to better handle soaring usage numbers. So here’s a roundup of how Twitter, Facebook, Univison, ESPN/ABC and app makers are handling all the excitement. Univision Promises 900 Hours of CoverageUnivision.com is an official internet broadcaster of the World Cup and is offering live streaming of all 64 matches. On average a quarter of a million people in the U.S. and Puerto Rico are watching live streams of each match. These streams have helped drive 16 million page views to Univision’s interactive media platform, including mobile and mobile apps. Its Soccer App also recently became the second most popular free app in the iPhone store.World Cup on TwitterThe official FIFA World Cup website is currently receiving as many page views as Facebook.Radio and TV once gave the world real-time soccer coverage. But today you can forgo both and simply watch Twitter’s World Cup tweets as fans of each team go head to head as each game is being played. With peaks up to 3,000 tweets per second this marvel of millions of soccer tweets is inspiring, except that Twitter can’t really handle it. In a recent blog post Twitter suggests users brace themselves for weeks of Fail Whales.Facebook CoverageAs always Facebook is in the thick of it with its campaign to get you to like everything. Facebook’s sports page has a passion rank, which currently puts Chile’s victory over Honduras in the number one spot. Almost a half a million people have liked Chile’s World Cup profile. And in related soccer-passion news, Chile’s capitol city of Santiago used tear gas and water cannons to disperse celebrants and arrest 81. This year is the first time in 48 years that Chile has won a World Cup match!World Cup on ESPN/ABCThe match between England vs. the U.S. drew 16 million viewers, and became the fifth most popular World Cup match ever covered by U.S. television. Complimenting this coverage was 1.7 million visitors to the ESPN website during the first four days. Of additional interest is analysis that indicates multi-platform users who switch between TV, radio, mobile and the Web are engaged for five times longer than those who only watch on TV.Flood of Soccer AppsOf course this roundup would not be complete if we didn’t mention the huge flood of Phone and iPad apps that are begin offered. The number of people trying to get us to promote their World Cup apps has skyrocketed. And while there are plenty of top World Cup app posts out there, I would only recommend one: the Vuvuzela iPhone app. It’s currently the number one free soccer app at the iTunes store. Even though this app is only capable of emitting 90 decibels (a real Vuvuzela horn hits 130), in the hands of a small child this app could be almost as annoying as all the Vuvuzela haters combined. last_img read more

Would You Trade Efficiency for Effectiveness

first_imgIf your win rate would increase substantially by your making an additional face-to-face sales call, would the “lack of efficiency” be worth the increase in effectiveness?If slowing down and spending more time in the discovery phase would allow you to come up with the right solution through collaboration while also building consensus, would slowing down be valuable if it meant a greater likelihood of winning the deal?Would the time spent nurturing your dream clients over the course of 36 months be worth it that initiative was responsible for your winning two or three multi-million dollar opportunities with the kind of loyal clients that remain with you for a decade?Efficiently InefficientThere is a particular focus on increasing efficiency in sales that stems from the digital age in which we find ourselves. The desire to use technology to gain efficiencies has caused companies and salespeople to trade automated emails for phone calls, and web meetings for face-to-face to meetings, reducing the time and the expense of selling.Because efficiency is the stated goal, the reliance on technology is accompanied by a form of Taylorism, slicing the sales roles thinner and thinner in attempt to “reserve the most expensive” sales resources for “closing well-qualified leads.” Both of these strategies are supposed to win more deals faster, and at a lower price. The less expensive, less effective salesperson is the first to speak to a prospective client, instead of the greater value creator.Like many good ideas, when one takes an idea too far, the result is often the opposite of what was intended. The complex, dynamic, and non-linear activity that is selling doesn’t resemble the assembly line. Your efficiency doesn’t do anything to help people and companies change, and make no mistake when you are selling that you are engaged in change management (whether you like it or not, and whether you believe you are responsible for doing so).No Wasted EffortThe additional face-to-face call isn’t inefficient if it increases your wins. If not making the call means you are likely to lose, you wasted all the effort up to that point, making skipping the face-to-face call inefficient.If slowing down to create greater value and certainty for your prospective client and all their stakeholders means you have the right answer and the support that results in a win, it is inefficient not to have the additional meetings.When you repeatedly do something that causes you to expend energy without achieving the desired outcome, that process is inefficient. For that process to be efficient, you’d need to achieve the result, in the case of selling, that means winning.last_img read more

Odisha teacher held for selling fake BEd degrees

first_imgA teacher allegedly involved in taking lakhs of rupees from students and providing fake BEd degrees was arrested by the police in Odisha’s Malkangiri district.According to Malkangiri town police station inspector in-charge Ram Prasad Nag, accused Arun Sen was arrested on Tuesday after three FIRs were filed against him. Mr. Sen is reported to be posted as a teacher in Udupa Primary School in the Malkangiri district. The police have started investigation to ascertain whether he had used fake certificates for his appointment or not.The certificates provided by Mr. Sen were in the name of universities and institutions outside Odisha, especially Bihar. “Persons like me who got a BEd certificate from Mr. Sen never appeared for any examination,” said one of the cheated youths Ganesh Sarkar. Through RTI applications to institutions concerned, it was found that they had received fake certificates.Mr. Sen had allegedly taken ₹1.5 lakh to ₹4 lakh in instalments from each student. He is reported to have cheated at least 20 youths.“He used to come to pur homes to motivate us to go for higher studies, like BEd, through distance education and collect money,” said Madhuri Biswas. Mr. Sen also took cash and online transfers into his account as well as his wife’s.According to complainants, Mr. Sen never arranged for any classes or examinations. Later, he handed over fake certificates to them. “When we enquired, Mr. Sen said somebody else appeared for us in exams,” said M.R. Sarkar. He also claimed that he and several others like him had got government jobs by using such certificates.last_img read more

FIFA World Cup: Germany edge past USA 1-0 to enter last 16

first_imgThomas Mueller scores the goal for Germanay against Ghana on Thursday With Thomas Mueller in a perfect position to pounce on a rebound, American cheers for yet another spectacular Tim Howard save didn’t last long. The US goalkeeper was unable to cut down the angle after diving to punch away a deflected ball, and Mueller did what he does so well – calmly drive a first-time shot inside the far post for his ninth goal in nine career World Cup games, giving Germany a 1-0 victory.The 24-year-old Mueller isn’t flashy, and didn’t generate the pre-tournament talk of Brazil’s Neymar or Portugal’s Cristiano Ronaldo. But the Bayern Munich star is tied with Neymar with four goals in Brazil after scoring a tournament-high five in South Africa.Ronaldo, meanwhile, is going home, as have other high-profile stars such as England’s Wayne Rooney and Italy’s Mario Balotelli.Mueller will be getting plenty of attention now, particularly from upcoming opponents.He opened Germany’s campaign in Brazil with a hat trick that powered his side to a stunning 4-0 demolition of Portugal. The result wound up helping the United States, which finished Group G play tied with Portugal on points, but with a better goal difference after holding the Germans to only Mueller’s searing right-footed, 18-yard strike.Though failing to score in Germany’s 2-2 draw with Ghana, he didn’t spare his body in an effort to find a match winner. Heading into the penalty area for a long ball as time was running out, he was involved in a hard collision which left blood all over his face.advertisementHe needed five stitches to sew up the damage. During the past week, he said he doubted he’d be pain-free against the U.S., but should be well enough to play without painkillers.Mueller certainly looked like his old self on Thursday, lifting Germany to the top of its group ahead of the knockout stage with his 21st goal in 51 international appearances.With seemingly numerous World Cup games in his future, Mueller is now six goals shy of the all-time World Cup record, held by his veteran teammate Miroslav Klose and former Brazil striker Ronaldo.last_img read more