A Life Insurance Company Business Health Insurance Marketing Strategy

With the reform of China's economy, and the crash of fully government-sponsored socialized healthcare system with increasing medical expenditures as well as the development of people's consciousness towards commercial health insurance, the benefits of commercial health insurance have become gradually prominent. Commercial health insurance is sure to plan more and more important role in China's medical insurance market and has already shown great potential for strong development in the near future.Based on 2006 CIRC Statistic Report, the health insurance premium reaches RMB 60 billion, and maintains annually growth rate at 30%. As China economy continue to grow and fast pace of urbanization, together with the current low penetration rate, people's increasing acknowledge to commercial insurance, as well as more government's incentive policies and the more integrated health insurance products, it is forecasted that till 2012, the health insurance premium will reach RMB 280 billion with the annually market growth rate at 29%.Being a well-known European insurance company, A Life Insurance Company has seen the great business opportunity in health insurance market and starts to build solid infrastructure such as product development, sales channel setup and operation platform setup, which shows its determination to be a strong player in this market.This article has been using A Life Insurance Company's profile to discuss its market strategy in the competition of commercial health insurance. First of all, it has researched for both the macro environment in China's commercial health insurance market and the company's internal capabilities. Then through individual and group consumers' behavior and market segmentation analysis, it helps A Insurance Company to find out the target segmentations and reasonable market positioning. Also it has leveraged the theory of 4Ps to make the proposal of integrated marketing strategy. Finally the article has discussed on the implementation of the strategy from the aspects of branding, service and risk control.