Research On The Core Competence Of The Chinese Insurance Companies

Fulfilling the commitment of joining the WTO, the insurance market in China is opener and opener in both width and depth. Directed by the market economy, the accelerating, stable and well growth of the insurance industry guaranteed a sustaining increase of economy, a safe and balanced society, With the enormous potential in the insurance market, China attracts various insurance companies from all over the world. Facing the competition from the powerful global insurance companies with the advanced technology and numerous experiences, Chinese insurance companies ought to concentrate on developing the core competence, in order to persistently occupy the market and sustain the competitive advantage. Therefore, this paper just focuses on how to improve the core competence of Chinese insurance companies.Starting from the study on the status of the enterprise core competition theory, first, the basic theory of core competence of Chinese insurance companies is cleared. Then, according to the contrastive analysis of Chinese insurance companies and oversea insurance companies, in concern of the changes of the external environment, this paper proceeds to the SWOT analysis of Chinese insurance companies. Afterwards, it combines with the specificities of insurance companies and insurance industry, with the statistical results of the relative references and the suggestions of specialists, this paper proceeds to AHP to analyze the core competence criteria systems of .the-insurance companies, and finds out that innovation and other four factors influencing the most, which should be the keystone to improve the core competence of the local insurance company. At the last, we should focus on the crucial influencing factors combing with the realties of both the insurance requirements in China and the conditions of Chinese insurance companies to create the core competition ability of the Chinese insurance companies by taking the innovation as the key point, the brand as the main way, the venture management as the basis, the corporation culture as the root, and the marketing competence as the backbone. Through the research, the writer hope to find out the methods of improving the core competence of Chinese insurance companies, and bring forward some suggestions to help these companies grow faster and more healthily.