Research On Marketing Strategy Of Group Insurance On The Case Of Ping An Annuity Insurance Company, Ltd.Fujian Branch

Ping An Annuity Insurance Company, Ltd. was established in Shanghai at Dec. of Year 2004, it was the first annuity insurance company in China. Ping An Annuity Insurance Company and the department of group marketing of Ping An Life Insurance Company were integrated into a new Annuity Insurance Company in Aug.2006, and 35 branches and 127 center branches were approved to be set up national wide at the same time. Fujian Branch is one of them. With the increasing numbers of subjects that running group insurance, the marketing competition become more and more intense, meanwhile higher cost and low profit is situation that have been facing by those insurance company running insurance group insurance marketing, which make it harder for them to earn a tidy margin consistently. So it becomes a life-and-death for annuity insurance company to figure out a new marketing strategy of group insurance. Therefore, with my working experience in PingAn Fujian branch, I come out this assay to study the marketing strategy of group insurance, which can be practically applied annuity insurance marketing.ed. Firstly, this assay briefly reviews the research status of the market of group insurance of domestic and abroad. Secondly, this assay studies the macro and industry competition environment of Fujian Branch, and analyses how PingAn Fujian branch should subdivides, selects and locates its target markets according to the advantage and disadvantage of the branch. If the branch wants to be the market leader, it needs to take marketing strategies as follows:(1) Product strategy, which breaks the boundary of products and combines innovatively, increases channels of investment, and meets different demands. (2) Price strategy, which sets prices flexibly, responses to new price mechanism, controls the cost, avoids vicious competition and ensures profits for the branch. (3) Channel strategy, which makes use of all the sale force and pays attention to HR development. (4)Integrated marketing strategy, which keeps good PR with all the stakeholders, strengthens the propaganda to establish good corporate image, builds powerful net system and human services to make service innovation. At last, this article elaborates the implement of the marketing strategy of group insurance of Fujian Branch.All in all, only constantly apply the advanced marketing mode and keeping innovation, and continuing to integrate various resources, can maintain the branch dominant role in annuity insurance market.