New Probe Into Life Insurance Marketing Innovation In Our Country

The life insurance marketing mechanism in China has been ushered from abroad principally by AIA , and has boosted the developments of life insurance industry in China dramatically. In fact, great changes have taken place in terms of the external environment that Chinese life insurance industry faces after 10 years of fast evolvements in the industry. Meantime, certain foibles in the existing life insurance marketing mode have been gradually exposed. The paper chiefly discusses upon how to update the life insurance marketing practices to tap into the demands of the new environment. Through an analysis of the life insurance market in China, the author holds that it is required to effect innovative measures into four respects: concept, product, service & distribution system. The concept innovation includes fostering of corporate culture and establishment of a new marketing concept. The product innovation shall focus upon R&D efforts of participant life insurance, variable life insurance and universal life insurance. The service innovation can be achieved by reinforcement of the service professionalism and improvement of interpersonal skills. The distribution system innovation is principally related to launching of specialized insurance agencies, cultivation of insurance brokers, and dissemination of insurance services in banks and on-line.