Research Of Small And Medium-Sized Insurance Brokerage Company Development Strategy In China

Insurance brokerage industry is an emerging industry in China, but it has a specialmeaning for insurance companies or consumers. Insurance brokerage agencies in Chinaachieve premium income of RMB38.01billion and operating income of RMB5.548billionin2011, growing26.21%compared to the same period, which demonstrates insurancebrokerage industry has entered a rapid period of development. In realistic point of view, in thehuge insurance brokerage market middle and small insurance brokerage has accounted for themajority of seats, but the extent of the development is mixed, representing smaller, lesscompetitive, weak profitability, lack of talent pool and etc. Solving the problems of middleand small insurance brokerage firm is a subject worthy of further study in order to promotethe healthy development of middle and small insurance brokerage firm and to enhance thecompetitiveness of middle and small insurance brokerage company.The article first defines the concept of middle and small insurance brokerages firm, andthen reviews the course of the development of Chinese insurance brokerages firm andsummarizes the development status of middle and small insurance brokerage firm on the basisof above analysis. The second chapter which is a core part of this article analyzes thecompetition and external environment of middle and small insurance brokerages firm in themethod of SWOT analysis: the paper first compares their respective strengths and weaknesseswith large domestic insurance brokerage firms and foreign insurance brokerage firms; thendiscusses opportunities and challenges faced by middle and small insurance brokerage firm inthe development process from the economic environment, policy and regulatory environment,social environment, technological environment and industry environment. On the basis ofprevious analysis, the third part puts forward the goals of the future development of middleand small insurance brokerage firm, which is large-scale, specialization, differentiation andstandardization; and proposes market positioning of middle and small insurance brokeragefirm, while giving reasonable recommendations.