President Director Dharmala Manulife, big, successful Canadian Indonesian joint venture life insurance company, faced a significant failures due to social unrest in Jakarta. In addition, the Asian financial crisis led to massive devaluation of the rupee in terms of U.S. dollars. Thus, the premium on dollar-denominated U.S. policy has become too expensive almost overnight. Policy surrender, redemption and failures occurred at an alarming rate. This erosion of the customer base also means that sales agents (who work solely on commissions) were not only lose customers, but also have a huge challenge in writing new policies in light of the economic, political and social chaos. Given the external situation, the director of the president and his senior management team have been forced to develop effective strategic marketing decisions. "Hide
by John S. Hulland, Donna Everatt Source: Richard Ivey School of Business Foundation 21 pages. Publication Date: January 1, 1999. Prod. #: 99A022-PDF-ENG
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