Study On The Strategy Development Of Taiping Pension Insurance Co.,Ltd

With a large population,China's old-age care has become a major issue concerning the national economy and the people's livelihood.As the “State Council's No.10 National notice” and “Several opinions on Speed up the Development of Commercial Endowment Insurance”release,commercial endowment insurance as an important supplement of the basic endowment insurance,received strong support in policies,ushered in the new unprecedented opportunities for development.At present,there are 8 commercial pension insurance companies in China,presenting an oligarchic competitive pattern.Each company has a strong group background and fierce competition in the industry.How to seize the opportunity,formulate and implement effective strategy is of great practical significance to the construction of China's endowment insurance system.This article selects Taiping Pension Insurance Co.,Ltd as the research object.Taiping Pension Insurance Co.,Ltd covers the business enterprise annuity and commercial endowment insurance products.It's a representative company as the scale,the history and the business coverage.This paper hopes to provide some references for the development of other commercial pension insurance companies through the research on the development strategy of Taiping Pension Insurance Co.,Ltd.First of all,this paper reviews the history of Taiping Pension Insurance Co.,Ltd,analyzes the current operating conditions,business scope and profitability,and conducts overall evaluation.Through the analysis of basic conditions,we can find that the company has some problems in brand building,cost management,sales and product innovation.This paper also analyses the reasons.Secondly,the internal environment,the external environment and comprehensive environmental analysis of Taiping Pension Insurance Co.,Ltd are carried out.This paper Uses PEST model and Porter's "five forces" model to analyze the external environment.The internal environment is analyzed from the aspects of ownership structure,the departments,financial situation,regional development station and core competitiveness.SWOT model is used to carry out comprehensive environmental analysis.Through the analysis,the company should adopt the WO strategy,take advantage of external environment and reverse the disadvantages.Thirdly,according to the company's vision,the development strategy of Taiping Pension Insurance Co.,Ltd is proposed.According to the internal and external environment analysis and SWOT analysis,combining with the strategic goals set by the company,the company should take advantage of the core competitiveness,adopt the WO strategy and build high-quality goods.At the business level,according to the characteristics of commercial endowment insurance business,the company should come up with a strategy of differentiation.The implementation of the strategy should concern four factors: the company's internal management,the competition in the insurance market,the investment in capital market and the customer relationship.Human resources,product design and cost control should be improved to reverse the disadvantage of the internal management.The sales channels and sales departments should be optimized to reverse the disadvantage of the competition.The investment channels should be broadened to reverse the disadvantage of the investment.The customer management and the brand management should be strengthened to reverse the disadvantage of the customer relationship.In order to guarantee the implementation of the above strategies,the company should take measures in the aspects of the system,the enterprise culture,the human resources and the information technology.