Research On Competition Strategy Of S Life Insurance Hunan Branch In Individual Insurance Market

The insurance industry has made a great progress with the rapid development of social economy and the increasing awareness of residents' insurance,but with the passage of time,the market competition is more and more intense.The life insurance company is currently facing the problem of Substitutes,competitive strategy and mode,lack of product variety and structure innovation of high quality for large scale productivity.In such a fierce market environment,how to continuously enhance the market competitiveness,hunt the Talent,product management and mode to expand the market share,has become a common problem faced by all life insurance companies.In this paper systematically highlight the development process of competitive strategy of domestic insurance companies,we take S life insurance company Hunan branch of individual insurance market competition strategy as the research objective,To analyse the influence of individual insurance market development issues we use the five forces model of PEST theory,Potter's guidance to get some facts.Through the first investigation,we found that the S life insurance Hunan branch has a lack of high-quality marketing and insurance office personnel.Low marketing capacity and retention rate,marketing team,unreasonable group structures,unskilled office working staff,which impacts the company's overall performance capacity.Secondly,the company takes universal and dividend insurance as the main products,the new business product value is low and the structure is unreasonable,coupled with the high homogeneity of life insurance market products that results in insufficient product competitiveness.Third is the stagnation and disequilibrium of the branch construction.Due to this compliance problem,the branch can not set up branches within two years,which makes it unable to expand the insurance market in the whole province by opening new institutions.In addition,some branches are lagging behind,that reduce the overall market share and brand influence.This paper suggests to give priority to human development strategy,In order to Enhanced the competitiveness in insurance company markets we must have to establish new intentions and external introduction standard,strengthen the marketing skills of office staff by compliance training to improve their sales ability and work efficiency,make regular adjustment and combination in product structure to achieve differentiation.