Research On Marketing Channel Strategies Of P&A Life Insurance Company

Under the current circumstance of innovation-driven New Normal, the insurance industry as one important part of China's modern service industry has become new-emerging force of economic growth. The newly issued “ten regulations” have again confirmed the status of life insurance as pillar financing industry, bringing simultaneously unprecedented chances for future development of life insurance industry. This paper engages in systematic analysis of innovative channel reformation of life insurance industry based on the example of P&A Life Insurance Company(second largest regarding insurance fee),while making suggestions of proper marketing channel strategies for the development of life insurance companies.In the article, the author will discuss about marketing strategies of the current three channels of life insurance industry in concrete. For the bank channel, banks and insurance companies should further deepen their strategic cooperation and establish common strategic goals for more efficient share of channels and customer resources. For individual agent channel, the article will raise methods and strategies for effective construction of agent network against risks for insurance companies caused by roaring increase of individual agents.Finally, the author will analyze the current direct-selling channel under the background of Internet Era and come to conclusion that there is huge potential of telephone and internet marketing for insurance products through more detailed analysis on customer needs, improvement of customer perception and design of new products.In a word, under current fierce competition P&A Life Insurance Company should adjust its channel strategies according to market development of China with the aim of better adaption of the ever-changing customer demand and consuming habits.Through the study of this article for the life insurance industry to provide the reference basis of marketing channel strategy and channel orderly and healthy development for the industry to provide the reference.