Research On The Marketing Strategy Of Non-auto Insurance Business Of PA Property Insurance Jiangsu Branch

In response to the general trend of slowing auto insurance business growth and strong growth in non-auto insurance business in the domestic property insurance industry,major property insurance institutions have begun to make efforts to "non-auto insurance " track.According to data from the China Banking and Insurance Regulatory Commission,the proportion of non-auto insurance premiums in the property insurance industry has risen from 27.6% at the end of 2012 to 44.8% at the end of 2022.PA Property Insurance Jiangsu Branch proposed in 2016 shifting the focus of marketing work to non-auto insurance,but its non-auto insurance premium accounts for only 31.7% of total premiums at present.As a result,given that the growth of PA Property Insurance Jiangsu Branch’s non-auto insurance business is slow and its transformation work lags behind the industry,it is necessary to conduct extensive research on its marketing strategy.This thesis analyzes the current marketing status,marketing environment,and existing problems in marketing work through a literature review,data comparison,and on-the-spot interviews,as well as the methods of PEST analysis,five forces model analysis,and SWOT analysis.According to research,the PA Property Insurance Jiangsu Branch’s non-auto insurance business has some marketing problems,such as unbalanced product structure,customer dependence on agents,large pricing deviation,and single promotion method,and the reasons for the problems are poor customer management concept,weak service ability,insufficient data management,and too traditional publicity and promotion.In order to address the aforementioned issues and achieve the goal of increasing the market competitiveness of PA Property Insurance Jiangsu Branch’s non-auto insurance business.To begin,this thesis makes some suggestions for adjusting marketing strategy in three dimensions based on STP marketing theory: region,product,and customer.The thesis then proposes a marketing strategy optimization scheme in four aspects,based on 4P marketing theory:customer segmentation,vertical sales management,intelligent pricing,and "online+offline" promotion.Finally,four supporting measures are proposed to ensure the implementation of marketing strategy improvement: perfecting organizational structure,emphasizing personnel training,improving service capability,and strengthening system construction.This thesis’ s research has theoretical and practical implications.Because there is little research on the marketing of non-auto insurance business in the United States and abroad,this thesis will help to expand the theoretical content in this field.Simultaneously,the research conducted in this thesis is primarily based on relevant information and data released by PA Property Insurance Jiangsu Branch and the industry,and the proposed marketing improvement strategy is also based on concrete actual analysis,which has practical reference and guiding significance for the development of PA Property Insurance Jiangsu Branch’s non-auto insurance business and the property insurance industry.