A Study On The Reform Of Life Insurance Salesman Management Systems

Commercial life insurance is a major section of modern finance industry and an essential component of social security system. Since AIA entered Shanghai, the market of China’s life insurance has been growing rapidly and it still maintains a tendency of constant increase. China is at a stage of rapid citification and population aging, in consequence, its life insurance market holds tremendous potential. The hidden disadvantage of individual agent system increasingly exposed during the transitional period. Indeed, the revealed problems had been affecting sustainable development of China’s insurance industry. Their performances are the high turnover rate of employees, uneven quality of salesman and lack of supervision. To solve the problems, we should undertake reform and perfect individual agent system.First Part is the introduction of this paper. We talk about context, purposes and meaning of this paper. The summary of domestic and foreign research literature laid the theoretical foundation for this paper. Secondly, we introduce three insurance salesman management systems’characteristic and intension, including staffing structure, individual agent system, and intermediary institutions. And providing thought for the path choice of system reform. Thirdly, through analyzing development situations and problems of life insurance salesman management systems, we can draw conclusions that it’s necessary for reform insurance agent system. Fourthly, this article summarized features with generality of life insurance salesman management of the Japan, Taiwan, and United States. By the description of the historical changes and the development of these countries’ life insurance salesman management systems, we can extract experience and draw a lesson from them. Fifthly, we take Beijing branch of PICC for example. Considering the special national condition of China and operating conditions of life insurance Corporation, we suggest adopting a method that combines gradual staffing structure reform and individual agent system reform. In the end, it concludes that we should adopt "double-track" model for steady reform. It has also set forth the relative operational measure for all aspects of life insurance salesman management systems.