Research On Development Strategy Of YX Insurance Brokerage Company

In the insurance market,insurance broker is a kind of core way,which has been developed for more than 100 years.Insurance broker is relatively sound in many developed countries abroad.However,the development of insurance brokers is relatively late.Although some large insurance brokers have been established,their expansion is difficult to ensure the market needs at the present stage.The insurance brokerage industry mainly deals with the problem of information asymmetry between the insured and the insurer,so as to obtain more comprehensive consulting services from risk management and insurance impairment together with the insured,so as to ensure that people can manage risks well.YX Insurance Brokerage company has begun to take shape after years of development and has a relatively high influence in the domestic insurance brokerage market,but it is only an insurance sales company at present.How to break through the limitation of shareholder resources and find out a new development direction with more potential is a major problem we are facing at present.YX Insurance Company has been affected by various negative factors in its development process since its establishment in 2011,which severely restricts its further development and expansion,and thus still cannot expand faster at present.After comparing with similar companies in the industry,the environment and difficulties encountered by this company during its growth are typical.Therefore,this paper takes this company as the object and discusses its development strategy.On the basis of a comprehensive analysis of the internal and external environment of YX,this paper combined with the characteristics of the current social and economic development,and proposed a more efficient and universal strategy.This study will collect the relevant information of the development strategy of the academic circle at the present stage,and find out the development of the life insurance industry and the existing research to build the theoretical basis of this paper.With the help of PEST analysis tool and Porter’s Five Forces model,explore the company’s current macro and industrial environment,and construct the external factor evaluation matrix(EFE);The internal environment is analyzed by describing the company’s development overview,core resources,capabilities and core competitiveness,and then the internal factor evaluation matrix(IFE)is constructed.Based on this,SWOT analysis tool is used to analyze the strategy of YX insurance brokerage company,and alternative strategies are evaluated based on internal and external factor evaluation matrix,SWOT four-half-dimensional plane coordinate analysis and quantitative strategic planning matrix(QSPM)to determine the company’s final development strategy.Through research,it is concluded that the company’s external development opportunities are:policy advantages and changes in the separation of production and sales,increasing per capita disposable income,high insurance awareness under the COVID-19 pandemic,improvement of emerging consumption habits and technological development.The corresponding threats are:intermediary restrictions by main insurance companies,high customer bargaining power,online insurance impact,substitute threats,high competition in the insurance intermediary industry.Internally,the company has the following advantages:its own culture,system,high service thinking,existing specific market resources,sound organizational structure;However,the disadvantages are reflected in the inadequate level of specialization,unreasonable use of technology,poor financial and marketing skills,and insufficient senior management.Based on the strategic analysis and evaluation of the design of the company to become the customer trust insurance brokerage company overall goal.In order to achieve the strategic goals,the implementation path of the development strategy was planned from the business system,talents,technology and brand culture construction,the focus of the development strategy of YX Insurance Brokerage Company was to determine the main customer positioning and business area positioning in the future,and the implementation of the company’s strategy was carefully planned from the service,business,talent and technology levels,and finally ensured the achievement of the strategic goals through the guarantee of corporate culture,institutional mechanism,human resources and information technology.At the same time,this study also provides certain reference and reference value for the development strategy selection of YX insurance companies in this industry.