Research On The Cross-selling Strategy Improvement Of PA Life Non-life Insurance Products

Control of economic and social development,as the main participants in the economy,financial institutions have gradually expanded their business scope and develop in the direction of mixed operations.For PA Life Insurance Co.LTD.,under the background of mixed operation of PA Group,various subsidiaries in the group have carried out cross-selling business.This marketing strategy has brought new profit growth points to each subsidiary and the whole Group.However,there are still a lot of questions in practice of the cross-selling strategy of PA life and non-life insurance products.It is very necessary to fundamentally study the cross-selling strategy of PA life and non-life insurance products.Firstly,the cross-selling strategy is thoroughly studied theoretically,and then the theory is applied to the practical work.Finally,the existing problems will be solved one by one.The research takes the cross-selling of PA Life’s non-life insurance products as the research object,and the author has been engaged in cross-selling work in PA Life for many years,and has always kept close attention to the development of the company’s cross-selling strategy.Through theory and practice,the research analyzes the current situation of the cross-selling strategy of PA Life’s non-life insurance products,so as to put forward effective and practical optimization suggestions.In the research process,starting with the academic background and significance,this paper introduces the development of the cross-selling strategy of the insurance industry,and then introduces the cross-selling theory,CRM theory,synergy theory,insurance marketing and insurance marketing management theory.Based on the above theories,this paper makes a relatively detailed study of the current situation of the process,management and support of the cross-selling of PA life non-life insurance products,the study also provided a questionnaire survey for users of PA life non-life insurance products cross-selling,conducted in-depth interviews with PA life insurance agents,and analyzed the problems and reasons of PA life non-life insurance products cross-selling strategy in practical application after combining the two.The study found that PA Life is relatively mature in its grasp of the cross-selling strategy of non-life insurance products,but there is still room for improvement.It found deficiencies in the design and pricing of cross-selling products,data mining of internal systems,collaboration between subsidiaries,incentive and assessment mechanism,technical support and backup service support,and the professional ability of insurance agents,put forward the optimization suggestions that PA Life needs to strengthen the implementation effect of the cross-selling strategy of non-life insurance products,and hope that the research can help PA Life further improve the cross-selling of non-life insurance products,face the fierce market competition with a more active attitude,use existing resources to win customers,expand the market,increase sales,and achieve sustainable development.