Wednesday, April 30, 2008

Management direction has changed

Dear Mr. Tan,

Thanks for giving me a job when I am in need while you're still our CEO at NTUC INCOME.
I have decided to leave INCOME as the direction of the management changed.

The commercial mindset INCOME adopted is no doubt one of the good options but it will be likely at the expense of the policyholders as the cost of operation increased (renovation, staff salary adjustment and advertisement).

I really admired the days when INCOME was steered by your leadership. This is also one of the reasons that motivated me to join NTUC INCOME during your era. Your management has definitely secured a job for the staff under your care and benefited the policyholders at large as they enjoy good bonus from year to year from the policies.

Mr. Tan you're always a model for me to learn and I am looking forward to your return to this industry to benefit us.


hongjun said...

I wonder if the current management of NTUC Income is reading your blog.

I thank for your willingness to share your knowledge.


Anonymous said...

This is showing gratitude and paying tribute to a man who demonstrated and epitomized the values of cooperative, an organisation which sought to benefit the ordinary man in the street and less privileged.
You left because you saw those values eroded and people were paying lip service and exploiting the cooperative name for personal gain.Words and actions don't match.
The exploiters I am talking include the insurance agents who are ungrateful to the man who gave them the opportunities to be what they are today. The former retrenched or sacked secretaries , retrenched or sacked managers and workers and technicians , bus and taxi drivers and cleaners and clerks and factory workers , to name a few,were given the chance to earn the kind of money and respectability they never dreamed of before.These people would have languished in obscurity in some corners of Singapore.These people came into this business by accident and not by design but by the attraction of money or had no other skills or no job but came to try and not the passion to help people but the passion for the money. These people are now opposing him, the icon of cooperative, and switching allegiance and playing to the new tune and singing a new song.
They speak badly of him and praising the new benefactor , intoxicated with the money they earned from peddling and pushing so called revolving but stationery revosave and vivolife. What ingrates they are? The passion for the money is deeply ingrained and it is the trait and it will be.
Brother or sister , you are indeed a person of principle by distancing yourself from what you don't agree and despised. This is called values and you live by the values. Kudos!!and all the best.

Anonymous said...

Dear Mr tan,
you are our great CEO that i had never see before. NTUC INCOME had a great loss without you as a CEO. The recent hot news on bonus issue had create many policyholders to distrust of this company. Basis vision is not meet . I am worry all the hard work create by you for the past 30 years had go down the drain. If this issues are not handle properly and was out of hand .NTUC INCOME will have an very hard time to settle the issue. I hope the management of the company can revert back the bonus issue ASAP or else the company will lose alot of customers in near future to come. Remember NTUC INCOME is an COOPERATIVE company afterall.

Anonymous said...

I read somewhere that the new CEO of INCOME said something like Singapore now is not the same as Singapore 30 years ago when Tan Kin Lian took over. Hence what worked in the past may not be so for the future. That's why they need to change direction but I think it is debatable whether the new direction they take is for the better or worse for customers. But judging from postings here it seems to be for the worse.

Anonymous said...

You think ntuc agents are clever? They could 'sell' becuase of the brand name which Mr. Tan has built over many years. Ntuc products were known as affordable, good value for money.People bought becuase of this perception and it was true.
But NOW not true but people buy from ntuc still thinking the products are value for money.
You can see it is not true anymore. Revosave and vivolife are examples. Worse, old policies are affected by the bonus cut.
When i think of what Mr. Tan has helped the agents i can't help despising the agents for their ungratefulness towards MR. Tan.If the agents think they are damned bloody good try their "skill" some where else and join other companies.
I bet they will come back licking the boots of their boss. The agents must remember IT IS NOT THEIR SKILL OR CLEVERNESS, IT IS THE BRAND NAME OF NTUC INCOME.You people are not fit and proper(not qualified).
Today people still perceive ntuc as value for money.That is why agent can 'sell'.
But don't get too cocky, you are nothing. You can't survive else where.Don't be ungrateful and talk bad about Mr. TanKL

Anonymous said...

I heard many agents left ntuc becuase of unhappiness with Mr. Tan but many came back because they found themselves inadequate.They couldn't survive out there.
This is testimoney that former and existing agents are n0t qualified and they thought they were good but found the truth that they have no skill and only ntuc could hand them the sales on a platter.. They needed the brand name of ntuc.
When many qualified for mdrt or tot was it because they were clever, skillfool salesmen and qualified? Rubbish, many had the help of the brand name and maybe part of the achievement was due to unethical practices.
The household brand name took Mr. Tan 30 years to build it to what it is today. It is a brand name that is associated with affordability, value for money, caring, policyholders centric, social responsibility, good corporate citizen, friend of the Art and charity etc etc .
However the brand name is in danger
of destruction.The revolt is underway. To change it to agents and management oriented, to pay themselves well, to make themselves look good, to be #1, to capture market share at ALL COST, the cost of a cut bonus, low return for policyholders, thin profit margin or loss to raise more revenue. After all, market share is measured by revenue and not by profitability. If you put these together you can understand where the company is headed.
As policyholders are we to watch helplessly and let the events roll by us? You know what to do, don't you?


Anonymous said...

Yes, you think ntuc agents got to mdrt, cot or whatever T through helping their cleints, putting their interest first? You think they recommended Term plans for thier clients? I am sure they knew term plans suited the clients' needs best and yet they didn't or avoided the recommendation. Conflict of interest, that's it. There is no money in Term Plans. Term plans cannot bring them to mrt ot cot. These heartless, cry crocodile tears or speak through their arse hole men and women have never cared for their customers.They have forgotten how Mr. Tan got them to where they are now.They forgot the well known affordable products that sell by themselves and have helped many to earn a decent living. Without which many would have landed in some dump
eking out their 3 meals. You propbably would see them behind McDonald counters or as bus and taxi drivers or cleaners and some might even end up in geylang. These ingrates ought to be taught a lessons for their heartless, and ingratitude.

Anonymous said...

It must be very difficult for you to make such a decision to leave NTUC Income. Your courage to make your stand is applauding. I wish you all the best in your next endeavour.

Anonymous said...

It is kind of strange how come all people think that only term policies are best for individuals. Sometimes it really depends.

If only term is suitable for everybody, then there is no need for actuaries and different products already

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