A Research Of Surrender Problem In Individual Channel

At the end of 1980s,the insurance market in China had been starting to recover and became an indispensable part of financial industry.The range of insurance products had been becoming wider and wider as long as improvement of the market.Universal life insurance,united-linked life insurance,participating life insurance and annuity assurance are quite active and lively in the market,however,there is no average and balance development among those insurance products.The investment market had been promoted by 'bull market' of the stock market in year 2007,most Chinese prefer steady investment with saving tradition,there was buying frenzy of participating life insurance due to interest reduction of central bank and increase of CPI.After year 2008,types of industry were affected by the slowdown of global economy,increasing surrender of participating life insurance has highlighted under this environment.As authorized by the company,this dissertation surveyed and researched the surrender problem of Heng An Standard Life Shandong Branch.This dissertation gathered surrender data from 2008 to 2017 of Shandong Branch Individual Channel,obtained real reasons of surrender via customer survey,analyzed the above databases and gave the conclusion.At first,analyzed surrender issues,raises of surrenders were one of the most problems faced by life insurance companies as long as improvement of premium incomes;moreover,surrenders reflected net profit and comprehensive solvency directly through analysis from PICC Life and Funde Sino Life.Secondly,listed the issue background and reasons of participating life insurance in Heng An Standard Life,took Shandong Branch as an example and investigated the true reasons of surrender,found that rate of salespeople's own policies was the highest in the first year surrenders via types of analysis such as premiums,policy numbers and policy periods.analyzed reasons,rewards and punishments for renewal ratio in existing Ji Ben Fa,the regulations and practice results of company operations.At last,forecasted the developing trend of life insurance industry through analyzing both internal and external environments,gave the own analysis of high surrender ratio,prospected the career project for salespeople and company operation.