| The year 2017 is extraordinary for insurance industry.Circular of the China Insurance Regulatory Commission on Regulating Development and Design Activities on Products of Life Insurance Company was put forward by CIRC to standardize the insurance market and to encourage and guide a healthy and prosperous development of insurance companies.A series of policies was put forward to promoting development of insurance business.And,China is making a step from a big country of gross premium to a strong country of insurance.Insurance market in Shandong plays an important role,as Shandong is a big province on population and economy.During the 13th-five year plan,the business scale on insurance industry in Shandong province is growing steadily,up 15-20 percent in average on premium income.As for life insurance company,there has been 60 companies set up second-class organizations in Shandong until the year of 2017.As more and more insurance companies entering Shandong these years,the competition is more and more severe.Sinatay Shandong is the second-class organization of Sinatay Insurance,which was established on 2008.As a small and medium-size company in life insurance market,thus the developing of Sinatay has to face many difficulties.Sinatay temporarily suspended due to supervision of CIRC on 2014,and returned to open on 2015.Sinatay Shandong,as a key branch company,playing an important role in Sinatay Insurance.From 2011 Sinatay Shandong always ranked first three on business scale and premium income in Sinatay Insurance.However,since 2016 the personal insurance business slipped down in Sinatay Shandong,and the growth slowed down.Under the siege of big insurance companies,sales company on line,and companies by bank channel,it is not optimistic for the development situation.To break development barriers and maintain the position of Sinatay Shandong in Sinatay Insurance,and win a place in life insurance market,it is urgent to set relative marketing strategy to solve the problems accordingly.This paper on the basis of relative marketing theory makes detailed analysis on the outer and internal environment encountered by Sinatay Shandong,by using method of Pestanalysis,Michael Porter's Five Forces Model and method of SWOT analysis,to find out advantages,disadvantages,opportunities,threatens of Sinatay Shandong.Problems of personal insurance business of Sinatay Shandong are also mentioned,including poor selection on products,low quality of staff,the lag on channel management,sluggish growth on customers,the fixture on brand value.Based on the problems above,I propose a differentia strategy which is according to the development of the company,to strengthen the team building,and improve the quality of service.As for product strategy,products combination,differentia strategy and life circle are carried out to boost the influence on market.The price strategy will apply pricing method of cost-oriented,competition-oriented and customer-oriented,to find out the price range to meet market and consumers.And,the channel strategy will focus on the resource integrity of on-line and off-line channels.What's more,the promotion strategies shall apply team-healthy,industry meeting and tourism meeting and so on to promote the performance development.This paper could be used as reference to Sinatay Shandong to improve personal insurance business,promote culture value and solve the lag of development at present.I hope these marketing strategies will be helpful for the healthy development of personal insurance,and inspired for small and mid-sized life insurance companies.Meantime,it could exert itself to explore some new patterns and methods to stimulate the development of life insurance. |
PDF Full Text Request