Company Y Qingdao Auto Insurance Business Competition Strategy Research

The insurance industry in China, after30years of reform and opening up especially for the recent10years of development, has entered a new stage of development, standing at a new, higher level. In2006, the State Council passed the " opinions " of the State Council on the reform and development of insurance industry, pointed out the direction for the development of China’s Insurance industry. Although, our country insurance premium amount obtained rapid growth, but regardless of the depth and density of insurance and other measures, and the western developed countries, the insurance industry still has a big gap.Property insurance is a property and related interests insured an insurance, including property insurance, liability insurance, credit insurance. Property insurance plays an important role in the management of social security, social risk management and social credit management. As China’s car ownership continues to improve, in recent years, the auto insurance business property insurance in the proportion has exceeded60%, the insurance business is good or bad, plays a very important role for the whole of the stable development of insurance industry. In accordance with the signing of China’s accession to the WTO agreement, China strictly fulfill commitments related to the. In February14,2012, China and the United States both sides issued a " joint statement " on the strengthening of bilateral economic cooperation, in March30th the same year, China promulgated the "State Council on modified’motor vehicle traffic accident responsibility compulsory insurance regulations’decision ", decided to foreign insurance companies to open the motor insurance compulsory insurance business, this also indicates that the auto insurance business China’s overall opening. In our country insurance product high homogenization, industry body increases quickly, the full opening of the reality, the insurance business competition will enter a more competitive era.Qingdao city is one of the country’s first14coastal open port city, in1994and was listed as one of the15deputy provincial city, in recent years in the background of the rapid development of the national economy, the economy of Qingdao city has been the rapid development. In2004August, the China Insurance Regulatory Commission (hereinafter referred to as the China Insurance Regulatory Commission) approval, Qingdao Supervision Bureau was formally established, responsible for the Qingdao insurance regulatory work, institution in Qingdao City branch of the domestic insurance companies are the provincial branch system. Y is a company with strong shareholder background of the property insurance company, Ltd. was established in recent years in particular, relying on the strong support of shareholders, laying completed the provincial branch network, in recent years the auto insurance business has been rapid development. According to the Y company’s overall planning and layout, the company has set up a branch in Qingdao city (hereinafter referred to as the Y Qingdao branch), business scale constantly expanding.In the background of the auto insurance business development, in recent years Qingdao auto insurance agent fast increase and natural growth of automobile insurance market premium situation, Y company in Qingdao City, the auto insurance business development has encountered hitherto unknown difficulties and challenges. In this case, how to face the development of auto insurance business the company faced problems and difficulties, and can establish insurance competitive strategy is feasible under the new situation, to maintain the Y company in the Qingdao property market long-term, steady development has important significance.Based on the enterprise strategy and the related theory, combined with the background of the development of insurance industry in our country, learn the advanced experience of developed countries, to select the competitive strategy of Y company in Qingdao City, the auto insurance business as the research object, using PEST, SWOT, five forces analysis model, a detailed analysis of Y company Qingdao branch development of auto insurance business the company’s competitive advantages and disadvantages, put forward Y company in Qingdao City, the auto insurance business model classification of differentiation, channel classification of differentiation and poor customer service competition strategy of alienation, also proposed the effective implementation of the competitive strategy and safeguard measures, of Y Qingdao branch continuously upgrade the core competition ability of insurance business, to keep healthy, with important significance to sustainable development, but also the insurance competition strategy choice of small and medium-sized companies in the industry to provide certain reference.