Brand Economic Analysis On Improvement Of Insurance Interprise's Competitiveness

Insurance has functions of economic compensation, financial factoring, social management, so it has an important role in economy and social development. But now China's insurance industry is not so strong and the insurance depth and insurance density not only lag behind the developed countries, but lag behind many developing countries. The main reason for the poor competitiveness of insurance industry is the poor competitiveness of insurance enterprises. With the opening up of China's insurance industry foreign-invested enterprises with large amounts of capital and advanced management will continue to enter China and insurance enterprises will be faced with more severe challenges, so enhancing our insurance enterprise competitiveness and "Enlarging and strengthening" China's insurance industry will become a urgent problems to solve.Focusing on the "competitiveness of insurance enterprises " this paper proposed brand is the embodiment of insurance enterprise competitiveness and brand building is the key to enhance the competitiveness of insurance enterprises. Firstly the paper analyze current situation of insurance enterprises. Accordingly it expands the connotation of insurance products according to the special nature of insurance products pointing out that the function of insurance products includes not only the traditional concepts of the view of economic compensation but also the risk management, which changes the situation that more attentions are paid to the scale than the efficiency and risk management is regarded as important as economic compensation. Sencondly, through the analysis consumer demand the paper proves that risk management is important to consumer and find the key to enhancing competitiveness of insurance enterprises, that is risk management services. Thirdly, the paper uses brand economics to analyse how to enhance the competitiveness of insurance enterprises and point out the main task of brand building is to improve brand category degree of insurance products. Insurance products category should focus on enhancing the interests of the emotion, that is to enhance consumer emotional interests through the provision of risk management services. This is because brands with the above category have some fuctions as follows: (1) Brands can reduce consumer choice cost and increase sales; (2) Brands can reduce payment rate and increase their profits; ( 3 ) Brands can improve consumer utility ,which can maintain old customers and attract new customers; (4) Brands can avoid price war and make high brand value. Finally, this paper suggests that how to enhance competitiveness of insurance enterprises through brand building according to the above analysis.