Mandarin Oriental Hotel Group – A Global Luxury Brand - Jardines

More documents

Recommendations

Info

ENTERPRISE AT WORK ... Mariátegui Jardine Lloyd Thompson Peru An innovative scheme by Mariátegui Jardine Lloyd Thompson (JLT) Peru involving teamwork on a large scale has created a profitable new line of business for the group and improved the lives of several thousand taxi drivers in the capital city of Lima. The scheme involved JLT setting up a lending market to enable taxi drivers in Lima to buy new vehicles run on green fuel. This required innovative use of insurance, technology for collection of the loan repayments at the petrol pump, and GPS monitoring. “Three years ago, there was no way a taxi driver could get a bank loan to buy a new car, or find insurance cover, because both banks and insurance companies were wary about providing products for this sector of relatively low-earning individuals,” explained Ignacio Mariátegui, New Business director of Mariátegui JLT Peru. Working with the Association of Taxi Drivers (ATP Partners), JLT Peru established a network of interested parties to tackle the situation and take advantage of Government initiatives to encourage use of ‘green’ fuel. The aim was to offer taxi drivers a programme for the renovation/renewal of their vehicles and persuade banks to provide these drivers with access to loans, through a range of insurance products that minimized the banks’ exposure to default. “We could see the opportunity, but there were many obstacles in our path,” said José Ramón Mariátegui, Executive President of Mariátegui JLT Peru. “Banks did not trust the payment collection method until it was proved it would work. GPS companies were cautious because they thought taxi drivers were easy targets for thieves and their GPS devices would be stolen. Service stations, workshops and car distributors were enthusiastic, but had few resources to align themselves with the required technology. It took a lot of time and effort to get them all around a table and to agree on how to make the ‘Taxi Scheme’ work.” From left: Gonzalo Montes de Peralta, New Business Assistant Manager; Ignacio Mariategui, New Business Director and Felipe Alvarez Calderon, Commercial Centre Manager, of Mariategui JLT Peru. Eventually JLT Peru’s leadership and drive won the day. Three years later, the Taxi Scheme has facilitated loans totalling US$100 million to Lima’s taxi drivers and they are receiving the benefits of both medical and income protection insurance. The taxi fleet has been renewed with some 5,500 new vehicles insured, monitored by GPS and using green fuel. “Teamwork made all this possible,” said Ignacio Mariátegui. “We have improved both the taxi service and air quality in Lima, but, most importantly, the quality of life of everyone involved.” The project has also provided a significant and profitable income stream for JLT Peru. In 2010, the ‘Taxi Scheme’ generated 10% of the group’s retail revenue. It also won the Peru National Business Enterprise Creativity Award in November 2010, in the category Financial Services sector. Currently JLT Peru is planning to apply the business model to other segments of public transport and in other developing economies. “We are implementing it in Chile and planning to expand it to Bolivia, Colombia and Brazil. We are also exploring the scheme’s application to the bus system with the same core team of partners,” said José Ramón Mariátegui.
Please address your comments or suggestions regarding Thistle to the Thistle Editor, c/0 <strong>Group</strong> Corporate Affairs, Jardine Matheson Limited, 48/F Jardine House, Central, Hong Kong gca@jardines.com Thistle is published by Jardine Matheson Limited on behalf of the Jardine Matheson <strong>Group</strong>.
Page 1 and 2: vol.3 2011 Thistle The Magazine of
Page 3 and 4: 5 9 Feature 14 Spirit 26 At the Cen
Page 5 and 6: New Features for PIP Awards 2012 Th
Page 7 and 8: Group Chairman Meets Thai Prime Min
Page 9 and 10: Hongkong Land Takes Significant Ste
Page 11 and 12: Hongkong Land Subsidiary Wins Premi
Page 13 and 14: Wellcome Taiwan Launches First New
Page 15 and 16: JOS Extends Geographical Presence i
Page 17 and 18: Mandarin Oriental Hotel Group - A G
Page 19 and 20: Innovative Dining Brings Acclaim Ma
Page 21 and 22: Future Development Takes Brand into
Page 23 and 24: International Recognition for Gammo
Page 25 and 26: Pizza Hut Hong Kong Carries Off Fou
Page 27 and 28: Astra is the Best Astra has won a t
Page 29 and 30: On Mental Health from the Jardine A
Page 31 and 32: MINDSET Singapore Makes its Presenc
Page 33 and 34: Latest Jardine Foundation Scholars
Page 35 and 36: China Management Trainee Scheme Tak
Page 37: Striving for Excellence in Hong Kon

Mandarin Oriental Hotel Group – A Global Luxury Brand - Jardines

Create successful ePaper yourself

Delete template?

Save as template?