The Strategic Study Of Individual Life Insurance Marketing Of ChongqingPing An Life Insurance Company

Under the situation of radical change of China life insurance market, new opportunities and challenges with WTO entry, the standardize of more and more matured market place, the rational behavior and individuation of insurance consumption, the severe credibility crisis of sales team, the specialists and the marketing group of life insurance start to review the current operational practice of life insurance marketing, in order to explore a new developing theory of individual life insurance marketing.This article takes ChongQing Pingan Life Insurance Company as research subject, brings forward the operation goal and development strategy of its individual life marketing through thorough analysis of market environment, consumption behavior, competition situation and the company's resource & capability. The research emphasizes marketing strategy, customer relationship strategy, product development strategy, channel strategy and sales team administration strategy.First, it can be seen through market environmental analysis that with the fast growth of Chongqing economy, the increase of mid class , the new developing opportunities for Chongqing Ping An Life Insurance Company with the entry of WTO and the lower competitive intensity of Chongqing life insurance market of under oligopoly, the coming 3-5years will become a chance window of development of Chongqing Ping An Life Insurance Company.At the same time, the industry threats will become more and more severe with the entries of new companies, especially foreign companies. The media supervision is becoming stronger, the insurance regulation is becoming more stricter, and the behavior of consumers is becoming more rational and mature which bring forward higher and more individualized requirement of life insurance sales and service. More over, the application of new technology and new sales channels all bring great challenges of current operational practice.Chongqing Ping An Life Insurance Company, as the first one that introduced personal insurance marketing mechanism to Chong qing, has become the leader in the market by depending on expansion of manpower and branches in early period. At the same time, Chongqing Ping An Life Insurance Company has established continuous competitive advantages in company culture, outstanding salesman, cross-selling and so on. But along with the mature of the market, it shows lag in marketing base management andcustomer service, such as depravation of business quality, low productivity of sales force and increasing customer complaints. The past marketing management and operating mode of expansion has not been able to meet the need of market and competition.Responding to the change of external market and the company's current resource & capability, the marketing strategy of Chongqing Ping An Life Insurance Company in future 3-5 year will locate following aspects to build its continuous competitive advantage: based upon central city and mass customers, increase penetration to rich and general rich customers gradually through channel integrating and establishing high level, professional sales team.The purpose of this article is to provide marketing strategy support for senior managers of Chongqing Ping An Life Insurance Company in transformed period.