| Today's Chinese life insurance firms, as represented by China Life Insurance Company and Pingan Insurance Life Company, are a set of life insurance companies born during the Asia financial crisis. They have completed national organization layout as China has entered the WTO, and expanded from being regionally focused life insurance companies to being nationally focused firms. However, along with foreign insurance firms entering the Chinese market and upstart new competitors in China, these Chinese companies are facing a significant issue: how to develop from extensive expansion to imbedded development, while retaining their competitive advantages.Individual sales from individual agents are the key channels that determine whether or not a life insurance company can sustain its development in the long term. Individual agent sales are an effective marketing method that is suitable for the characteristics of life insurance products. This marketing method has proved to be successful in developed countries. With its introduction to China, this sales strategy has significantly accelerated the development of China's life insurance industry. However, after years of aggressive expansion, Chinese companies, when compared with other excellent firms, have shown big differences in their businesses operation development, individual product research and development, customer service system construction, and the requisite organizational layout. This is especially apparent when compared with foreign companies represented by AIA. These differences are the major reason that Chinese Insurance Firms'new policy business has stalled in the past three years. The questions remains: how can the companies successfully reform and rebuild their competitive advantages? Chinese life insurance companies are currently confronting this issue.Our country's Chinese life insurance companies have been fast developed in the past years. Since the year 2000,the individual life insurance agent sales were still lingered on the basic period of time. After the competitive principal in the Chinese life insurance market are increase, especially there are more and more experienced foreign companies are getting into our insurance market, our Chinese life insurance industry will face tremendous challenge in the future existence and development. In recent year, just in Qing Dao urban district has more than 30 insurance companies and insurance agencies, the competitive principal have risen sharply. Therefore, the direct effects for the Pinan Life Insurance Qing Dao Branch are: scale of insurance charge grow slowly,insurance agency continue decreased,insurance agency's income are also grow slowly,training is short of originality……the success or failure of developing individual agency, which will determined to our life insurance's future destiny. Therefore, the Qing Dao Branch must systematic developed the central rivalry in the individual business field, which will make its successful.Looking forward to Qing Dao Branch's business developing model and operational mechanism, even we thought our business has been developed in those years, but we still doesn't have much advantage in insurance market to our competitors. Under this circumstance, Company sales operation system, level of customer services, and business management are taking the biggest challenge ever. Facing this suddenly changeable market, Qing Dao Branch must achieve their goal of change in nature of operation system; systematically developed the central rivalry in the individual business field, truly take intensive develop direction. Under this background, Pinan Life Insurance Qing Dao Branch starts doing research on change in nature of operation system, especially focus on systematically developed the central rivalry in the individual business field.Based on individual agency business characteristics, this thesis uses value chain theory, analyzes factors of the individual business, and proposes the evaluation system used to asses individual agent business.In recent year, Qing Dao Branch changes their individual agency business operation system from extensive model to specialize model. This thesis presents corporate core competency theories, analyzes the results of life insurance core competency studies, and summarizes existing study results and shortages. The thesis proposes that we must develop the core competency according to different development stages of companies and the key business area, that is, individual agent business.Based on core competency theory and adjoining research report, the thesis analyzes chinese life insurance companies'competitive advantage, existing problems, and their reasons, explaining the necessity for reform. This thesis systematically described the marketing positioning, strategy choice, product research and development, individual agent team management, customer service reform, individual business operation and network layout. The author gives recommendations and details of new policies as Chinese firms aimed at establishing individual agent business as their core competency. |
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