The Effect Of Sales Channels On The Operational Efficiency Of Small And Medium Insurance Companies

With the rapid development of insurance industry in China,the competition in the insurance market is becoming more and more intense.The selection and development of marketing channels has become one of the focuses of every insurance company.A successful marketing channel,not only can provide broad coverage and premium large insurance sales,but also can provide timely,accurate and dynamic market information,and improve the insurance company's brand,product reputation and customer loyalty,so as to achieve the expansion of insurance sales and reduce operating costs.Through the analysis of the Y insurance Co.Ltd(Jiangxi branch)marketing channels of premium income,fee and commission as well as the underwriting profit effect,this thesis put forward suggestions to the Y insurance Co.Ltd(Jiangxi branch)channel development,it has a certain reference to the role of the small and medium-sized insurance the company's channel development.The content of this paper is divided into five parts.The first chapter mainly elaborates on the research background and the significance of the case analysis,analyzing the domestic and foreign research situation as well as research method and the insufficiency of this thesis.The second chapter is the case background,introducing the basic situation of the Y financial insurance company general company.Introducing the financial situation of the general company from the three basic financial indexes of the general company's assets change,the asset liability rate and the income situation,and finally introduces the basic situation of the channel of the Y insurance Co.Ltd(Jiangxi branch).The third chapter is case analysis,taking the Y insurance Co.Ltd(Jiangxi branch)as an example,starting with the premium income from various channels,the analysis shows that the change of other channels of the company is almost identical to the change of the total premium income except the direct channel of the company's direct selling;the indirect channel fee and commission of the insurance company is lower than direct;the rate of payment of the facultative agent channel is higher than that of other channels.It is mainly related to the customer composition of the channel;the company's comprehensive cost rate is reduced by the adjustment of the channel,which makes the company's underwriting profit get better.The fourth chapter is the countermeasures and suggestions of the thesis.Based on the analysis of the third chapter,the current situation,demand and improvement of Y insurance Co.Ltd(Jiangxi branch)is discussed and suggestions of marketing channel for Y insurance Co.Ltd(Jiangxi branch)from five aspects are provided.The systematic and standardized construction of direct marketing channels;Y finance and insurance company actively explore the development of power grid sales;vigorously develop the team of personal marketing staff;develop Sales Service Co;supervise the facultative agency and develop new facultative agency.The last chapter is conclusion.First,this paper makes a systematic analysis and Research on the sales channels of the small and medium-sized financial insurance companies,taking the Y Jiangxi branch as an example and find that the structure of the medium and small financial insurance companies has a significant impact on the company's operation.Second,in the channel marketing,small and medium-sized financial companies must match the income and cost of channels,expanding the scale of the channel in the level of guaranteeing the market fee and commission.Third,small and medium-sized financial insurance companies,while controlling different marketing channels,must also actively pay attention to market changes and national policies.When it changes company should adjust the channel structure in a timely manner,then improve the company's ability to respond to market changes.This paper uses case analysis,literature research,interview research,Du Pont analysis and chart analysis.Through the analysis of the case,it is found that the insurance channel has a significant impact on the insurance premium income,the fee and commission,the rate of compensation and the profitability.The analysis results show that the fee and commission of the direct selling channel of Y insurance Co.Ltd(Jiangxi branch)are low,and the space for increasing the income is larger;With the increasingly stringent approval of the sideline insurance agent qualification,the company needs to stabilize the existing channel and strictly control the cost of commission.The synergy effect of the professional affiliates makes the company have certain advantages in the channel and can get more transparent fees and commission quotes.The company needs to strengthen cooperation and management with its subsidiaries.As for the independent agent,because the automobile insurance business is relatively high and the competition is more intense,the increase of the company's revenue will be accompanied by a greater degree of fees and commissions.The company should actively develop the business of this channel with the thought of maximum profit.