QA Project

INTRODUCTION
AXA is the world leading financial service group with assets under management of Euro 1,014 billion and Euro 91 billion in consolidated revenues and being one of the world largest corporations. AXA operates with 214,000 employees to deliver the best quality of service to 95 million customers in 61 countries. AXA Insurance PCL was established in Thailand in May 1990, with a joint venture between AXA Group and two leading local partners; United Overseas Bank (Thai) Public Company Limited and TISCO Bank Public Company Limited. The companys operation has been expanding steadily over the years through the strong support from the shareholders, business partners, insurance brokers, and agents including the fast growing number of satisfied customers. The company is committed to the excellence by being available, attentive and reliable to our customers. Our head office is located in Bangkok and branch offices in Chiangmai, Nakhon Sawan, Khon Kaen, Nakhon Ratchasima, Chonburi, Pattaya, Hua Hin, Samui, Surat Thani, Hatyai and Phuket. We have an extensive network of professional staff and sales forces to take care of all your insurance needs.

Partners AXA Insurance PCL is a member of the global AXA Group, the world leading financial services group and also a joint venture with two leading local partners; UOB Thai and TISCO Bank.

United Overseas Bank (Thai) Public Company Limited United Overseas Bank (Thai) Public Company Limited (UOB Thai) is set to bring financial services to new heights for our customers in Thailand. With 145 branches and 318 ATMs nationwide, we offer both consumer and corporate banking customers a wide array of products and services ranging from personal financial services to institutional banking, investment banking and treasury services. It is the ninth largest commercial bank in Thailand, with a total assets of THB 216 billion as at 31 December 2008.

As part of the UOB Group's extensive network of 572 offices in 18 countries and territories, UOB Thai is well-positioned to become a significant player in the Thai banking and financial industry.

TISCO Bank TISCO was established in 1969 as the first investment bank in Thailand. The name TISCO derived from the full company name at first founded, Thai Investment and Securities Company Limited. TISCO has developed several financial services to serve the increasing needs of the Thai growing economy and has become one of the leading financial institutions of the country. In 2005, TISCO was the first finance company to upgrade its status to a commercial bank under the Bank of Thailands Financial Master Plan. TISCO Bank Public Company Limited engages in banking business with service areas including retail and SME lending, corporate lending, retail deposit, private banking, bancassurance, cash management and custodian services. TISCO Bank head office located at TISCO Tower, North Sathorn Road. It currently has 41 branches in the metropolitan and strategic provinces nationwide. The bank will increase its service channels as well as develop new financial products to serve and respond to more clients needs in the future.

AXA in Asia Pacific

With over 170 years of local experience In Asia Pacific, AXA Asia General Insurance operates in Singapore, Malaysia, Indonesia, Thailand, Hong Kong, Korea, Japan, China and India. We also have a representative office in Vietnam. We offer a wide range of personal lines and business insurances for our individual customers and corporate clients.

Rationality of the study

AXA insurance is the leading insurance firm across the world, with their operation in Thailand also. So we wanted to survey which are the best insurance sales in Thailand and what category of insurance should be called off and which one should have more sales or should be promoted more with the help of marketing techniques. AXA insurance have various types, we are mainly concentrating on the following: 1. 2. 3. 4. 5. Life Insurance Health Insurance commercial Insurance Motor Insurance Travel Insurance

From the above five insurance we would analyze which one holds the strongest and highest number of sales with the help of our QA techniques and choose the best one.

Objective of the study

To determine the best model in the insurance company As mentioned above we are analyzing on five insurance provided by AXA insurance co. so our first objective will be to know which is the best model in the company that is providing the highest sales.

To identify which model should be retained After the analysis with the help of QA forecasting methods we can come to a conclusion that which of the following insurance should be retained.

To eliminate the worst model from After the analysis we can decide which is not fetching us enough sales and can discontinue the sales the the respective insurance.

Identification of dependent and independent variables

Dependent variables(Y)

sales

Independent variables(x)
We have selected different categories of insurance provided by the AXA Insurance Public co., Ltd. as x

X Five predictors X1 X2 X3 X4 X5 Life Insurance Health Insurance commercial Insurance Motor Insurance Travel Insurance

Samples for the analysis of each model provided by AXA insurance

Scattered diagram between Y and each predictor

Y and X1

Y and X2

Y and X3

Y and X4

Y and X5

Analysis of which independent is the best predictor for y by using spss program

SPSS correlation outcome of each variable

Linear regression line between Y and the best predictor

b0 & b1

Linear regression line equation = b0 + b1(X)

=b0+b1(X) =470535.400+6.156(X) If X=700000 =470535.400+6.156(700000) =4779735.4

Samples from part1

Line chart between Y and time

Forecasting Y by using linear trend line and determine MAD t Yt tYt t2 (t)2 465 17997213 275605096.6 9455 216225

Yt-Ft 5863445.613

Average t 15.5 Average Yt 599907.1

Ft=b0+b1(t)

b1= tYt-(tYt)/n t2-(t)2/n =-1491.303626

b0=average Y-b1*average t =599907.1-(-1491.303626)*15.5 =623022.3062

Linear trend model Ft=623022.3062-(1491.303626)(t) F31=576791.8938

MAD=Yt-Ft/n =5863445.613/30 =194781.5204

Line chart between Y and forecasting line of linear trend

Moving average model

Line chart between Y and forecasting line of the best moving average model

Forecasting Y by using exponential smoothing with = .05 to .50 & determine MAD

Line chart between Y and forecasting line of the best exponential smoothing model

Result of forecasting term period 31 from the best model

The best model is moving average model.