Discussing The Credit Crisis In Insurance Marketing

After reform and opening-up, China's insurance industry has been developing very quickly, yearly average increased by the speed of 30%, is one of the growing fastest industry in China's economy. Especially after China entered the World Trade Organization (WTO), China's insurance industry fully opening-up to the outside world, its internationalization becomes higher and higher, the function of insurance has been developed, its growing ways are changing. Insurance credit standing is being built and achieve some achievements in this field which becomes the basic factor to drive insurance industry grow rapidly. But in the mean time, it becomes a natural thing that hard to get insurance compensation,misguiding in insurance products selling,unfair competition occurred in insurance market and so on. These affect the insurance industry's credit standing. Without credit standing in insurance's industry, the public will lose faith for insurance industry which will restrict and shake the foundation for insurance industry to survive and develop. Therefore, good credit standing is the lifeline for insurance company's sustaining development. It also is an important factor for insurance companies to upgrade their key competition abilities and development stamina. It is also unique skills for insurance companies to win in competition. New "Insurance law" use special terms specifically stipulate "insurance activity parties exercise their rights,implement their duties, should obey the principle of honesty and credit standing".From the basic knowledge of insurance selling, this article discusses insurance selling's status quo,credit standing building development and the problems exist in insurance selling. Then the article also explain why it is importance and necessary to build insurance credit standing. Afterwards, the article focus on using the knowledge system of "4P" in marketing and the insurance theory knowledge to introduce characters of insurance products among insurance marketing mix,pricing,selling channel,insurance promoting, points out different kinds of credit standing crisis which exist in insurance marketing mix, study and analyze the factors above. Finally, the article finding out ways and methods to solve credit-standing crisis from microcosmic and macroscopical approaches. Microcosmic approaches are countermeasures to insurance marketing mix and macroscopical approaches are countermeasures raise from the angles of the government and insurance industry.