| Group insurance used to be the major business of life insurance underthe opening-up policy .However, in 1992, personal insurance agent wasintroduced by American International Assurance Company in Shanghaiand exhibited its superiority very soon. Therefore, many Chinese insurancecompanies began to emulate this sales pattern and develop in successionthe personal life insurance business. Thus the prosperity of the personallife insurance business, which became the new driving force of theinsurance business. In 1999, personal life insurance exceeded, for the firsttime, group insurance. And the group insurance premium in life insurancehas decreased from 88.8% in 1996 to 18.0% in 2004. While in recently years, under the influence of the economic policyand the market surroundings, group insurance in China begins to recover.And it is predicted by the well-known Boston Consultative Corporationthat by 2006 Chinese group insurance premium will be added up to 100billion. It is by no means groundless. First of all, the reform of socialsecurity system gives great impetus to the development of the commercialinsurance including group insurance. In addition, employee's welfare plan,as the means of protecting the employee as well as inspiring them, hasdrawn more and more attention of the companies who see group insuranceas an effective solution to the welfare plan. Apart from the two reasonsabove mentioned, the access to the foreign insurance company in Chinaalso promote group insurance. According to the WTO agreement, onDecember 11th in 2004, Chinese insurance industry cancel the ban onforeign healthy insurance, the group insurance and old age pensionannuities insurance business. Since the foreign insurance companies boasta long history of insurance development and own a wealth of experience inmanaging insurance business, the competition between the Chinese andforeign counterparts is bound to be very keen and therefore greatlystimulate the life insurance to develop. Group life insurance is the major part of group insurance. But itencounters decline in China. It not only lags behind the entire lifeinsurance, but covers decreasing percentage of the group insurance.There are not only many defects in group life insurance such as lacking inproducts and qualified technical personnel, and non-standardizing inmanagement, but its business also overlaps that of personal insurance andas a result is even in conflict with personal insurance business, which leadsto intense competition. With group life insurance being in this embarrassing situation, thisthesis is thus aimed at developing new ideas on the group life insurancereform by analyzing the exploration of new group life insurance products. It is made up of four chapters constituting twelve sections,explicating the exploration and innovation of the group life insuranceproducts. In the first chapter, the concept of group life insurance product is putforward in order to conceive the essential argument. section one of thischapter is an introductory part on general definition of group life insuranceas well as its related terms and traits. Based on this introduction, thewriter's comprehension and redefinition will be combined, which pavesthe way to the key opinion of the writer. Then in the second section all thegroup life insurance products in the market will be introduced andclassified according to the profound investigation and study. In the finalsection comment on problems of group life insurance products will bemade. In the second chapter, discussion will be mainly on the macro-factorsas well as micro-factors which may influence the development of thegroup life insurance products. The author holds that macro factors includepolitical and economic atmosphere, the situation of policies andregulations as well as social and cultural surroundings. By the analysis of 2the macro-factors, the author comes to a conclusion: the macro- factors ifbeneficial to the development of the products. Comparatively speaking,the micro-factors hinder to some extent the development of the productsdespit... |
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