Jiangsu Branch, New China Life Insurance Group Insurance Business Market Positioning

Group insurance plays an important role in life insurance industry of china. Withthe entry of foreign-invested insurance companies into chinese market, the competitionfor group insurance clients between insurance companies is becoming more and morefierce.Based on the situation mentioned above, this article analyses the market demand ofgroup insurance and the purchase behaviors of group insurance clients according to thepractical development situation of group insurance business of New China LifeInsurance Company (NCLIC) Jiangsu Branch in recent years under guideline ofconsumer demand Theory and purchase behavior Theory. After research on thedevelopment situation of group insurance home and abroad and the currentdevelopment situation of group insurance business in NCLIC Jiangsu Branch, thisarticle also makes analyses on the competitive powers of the main opponents of NCLICJiangsu Branch. And then this article comes up with the suggestion that this companyshould develop the market urgently. The rest of the article subdivides the groupinsurance market of Jiangsu into several parts and ensures the market orientation ofNCLIC Jiangsu Branch on future group insurance market should be a private enterpriseaccording to the internal and external conditions of NCLIC Jiangsu Branch. At last, inorder to increase the group insurance demand of private enterprises, this article basedon the market orientation of NCLIC Jiangsu Branch, puts forward some suggestions onhow to improve the performance cost ratio of group insurance products, and thepurchasing willingness of private enterprises. And it also suggests that we shouldpromote our product in a proper way and we should deepen the awareness of insuranceof private enterprises.