Marketing Strategy Analysis Of Travel Accident Insurance Of Corporation Y

Tourism has seentremendous growth in China in recent years,whichkept a high growth rate of over 10% for five years (2009-2013);gradually, it has become more and more obviously in the domestic economy. In the meanwhile, the number of travel accidents climbs up, which affects both the safety of tourists on an individual level and the development of tourism on an general level. As an effectiveway of risk control method, travel insurance is introduced. Due to the short duration, high compensation rate and low profit each issue,Corporation Y limits itsmarketing input into travel accident insurance, mainly focusing on compulsoryliability insurance via the channel of travel agencies, and largely neglects liability insurance, which has great potential.This paper use field analysis, case analysis, comparative analysis and other research methods, aiming at solve the above problems,presents a generalmarket research for travel accident insurance, andCorporation Y’s strength and weakness is clearified with an SWOTanalysis, which points to an aggressive marketing strategy rather than a conservative one. In addition, the target market is identified through segmenting. Lastly, a marketing strategy is proposed, with considerations on real worldexecution.Theory is put to practice, yielding insights into marketing strategy for travel insurance, with potentialfor real world practices.The conclusion has certain meanings to CorporationY and other insurance companies’development of tourism of insurance business, make travel accident insurance marketing strategy.Conclusions include:(1) Given the general social and economic environment, there is an underlying potential and practical trend that travel accident insurance play a more important role than compulsory liability insurance;(2) With travel accidentinsurance, the market is more of an opportunity rather than a threat, and Corporation Y’s strength outweigh its weakness; it is theoretically cohesive and practically advisable that Corporation Y adopts a marketing strategy centering around accident insurance;In order to leverage Coporation Y’s competitive advantages to gain more market share, combined marketing (packaging, pricing, discounting, value-adding) is an effective approach;(3) Market should be properly segmented and different policies should be appropriately made, specifically, indifferentiated marketing for long-term accident insurance, and differentiated marketing for short-term accident insurance;(4) Channel management, service upgrade,among several other aspects, is the key to efficient execution of the proposed strategy.