Competitive Strategy Of PICC P&C Guang-dong Province Branch

With the further deepening of China’s economy reform, opportunity coexists with challenge in China’s insurance industry.On the one hand, the expansion of economic scale, the growth of society material wealth and a sharp increase in urban and rural residents incomes have promoted the rapid demand of insurance.On the other hand, the traditional business mode of insurance company is facing great challenges because of the increasingly fierce market competition and the growth of participants.It seems that it has become an important task for the insurance company to improve and modify the malapropos business model constantly, look for their own development strategy and improve their competitive edge in the new environment.This paper takes the Guangdong branch of PICC P&C as a research object, adopts the method of theoretical and empirical analysis and uses PEST Analysis to find out the opportunities and threats of PICC P&C, Guangdong Province Branch by analyzing its external environment.Then,it studies its internal environment from resources and competences, which points out strengths and weaknesses of the company.On this basis, it integrates the opportunities,threats, strengths and weaknesses of PICC P&C, Guangdong Province Branch by using SWOT Analysis, which comes to the conclusion that the differentiation strategy is suitable for the development of the company.After the confirmation of the differentiation strategy, it raises some ways to realize it, which focus on promoting product differentiation, brand differentiation, service differentiation and channel differentiation strategy, ensuring competitive edge of the company and consolidating the company’s market position through the implementation of differentiation strategy.Finally, this paper discusses the safeguard measures to implement differentiation strategy, and puts forward the ideas of further deepening the reform of the organizational structure, establishing a scientific human resources management system, strengthening the support of information technology and deepening the enterprise culture construction to ensure the smooth implementation of differentiation strategy.