Study On Fine Art Insurance Marketing Strategy Of P Company Based On Market Demand

The sustained and stable development of China’s economy has promoted the domestic art market prosperity, which also created demand of the domestic art operating agency for Fine Art Insurance. However, due to the domestic art market facing the problems such as high risks, controversial Valuation and Repair Methods,incomplete transportation and identification service agencies, and insufficient risk control and claims data bases, the insurance companies holding cautious attitudes, and the demands of artwork operating agencies are hard to be satisfied.This article combined with the domestic insurance market and the marketing statues of P Insurance Company( hereinafter referred to as P), via questionnaires,surveys, interviews and other research methods, investigating and anticipating the requirements of the art insurance market from the five aspects of Insurance liability,Value of Assessment, Insurance Coverage, Ways of Compensation and Price.Meanwhile, the SWOT of the P has been discussed through analyzing the macro and micro environment and the enterprise environment. In the end, the 11P’s marketing strategy portfolio theory has been used to analyses the P’s marketing strategies, and the recommendations and conclusions have been given out as shown below:(1) The fine art insurance market has a great demand with a certain scale, which worth the P to put some investment for the artwork insurance marketing;(2) The P should strengthen the current cooperation agencies with the advantages,and setting the state-owned public museums, art galleries and other non-profit organizations as the main target market.(3) The P should organize a specific team for extend the fine art insurance market including private galleries, auction houses, galleries as soon as possible in order to expand the market share.(4) The P should create the insurance products with more features and differentiation,which can satisfy the market demands and enhance customer service experience.This article provides solutions and recommendations for the P, whilst offering theory bases for establishing and constructing the development model of the domestic fine art insurance.