[Fa] Prepaid Legal Service-Individual Case Study

In: Business and Management

Submitted By dark33069
Words 1248
Pages 5
Prepaid legal Service 1. How does PPLS create value for its customers? What are the critical risks that it has to manage well?
Prepaid Legal Service (PPLS) provide a legislation service that members could receive law service by paying small amount of money on monthly bases. When members have legal issues, PPLS could access them to attorney network to sue or pay related compensation for those who have their own attorney. Therefore, members would feel that someone would back them up, and that’s the greatest value for its customers. Furthermore, they create a “Family plan” which provides a comprehensive protection for a family. Since their target customer is for middle-income Americans, it is widely accepted and the number of membership significantly increases.
The main risk that PPLS have is the cancellation rate among members. Since they don’t have disclaimer and penalty for cancellation, members pay monthly with small amount of fee, it is much easier for them to consider of cancellation in any time.
Another problem is the communication and relation between PPLS and their associates. Since the mechanism of commission in PPLS is different from other multilevel marketing companies, they might doubt why they receive their commission and the company requests them to return it when the contract cancellation. To some extent, PPLS should let their associates well-understanding the commission system.

2. Base on the post-1995 commission formula and information in the case on pricing and commission rates, calculate the cash inflows for premiums and cash outflows for commissions for years 1 to 3 that would arise from the sign-up of 1000 new members at the beginning of year 1. Assume that: (a) actual member renewal rates are 75% for both years 2 and 3, and (b) 25% of recoverable commission advances in each of years 2 and 3 are expected to prove uncollectible.

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