Safely Cast Even Insurance Crisis Causes And Countermeasures

In recent years, Chinese insurance industries have been growing rapidly, especially in life insurances. As the pioneer of Chinese insurance industries, PingAn, has achieved much progress in years with the total revenue of 61.8 billion RMB. It must ascribe in the important role of the investment-linked insurance which was firstly introduced into the market by PingAn in October of 2002. In the consideration of good expectations for the domestic demand and the self-development, PingAn raised a goal in the start of 2002 with Global500 which must be accomplished in 3-5years.However, as the great declination in domestic capital market, the investment-linked insurance, the best-selling, which ever shocked PingAn's rivals, met with its Waterloo. It aroused a great trust crisis among many consumers and some sales agents towards PingAn, meanwhile, uncovered some problems which had been always hidden in PingAn's fast growing. This crisis and more intense competition have slowed down the pace of PingAn since the year of 2002. Investment-linked insurance crisis has turned out to be a public focus which all the PingAn agents do have to face up to. So it is necessary and urgent to ponder this problem and seek proper resolution for ever member of PingAn.The author retrospected invest-linked investment crisis and digs out the reasons for it. Further more, he attempted to come up with some resolutions and measures to solve this problem through combining individual knowledge of management and the practical conditions of PingAn.Firstly, he raised some phenomena that the background and reasons aroused to lead to analyze this reason through analyzing its distinct features. Secondly, focusing the exterior impacts, find out the exterior factors. They are: the consecutive depress in capital market, untruthful remarks from the press, ill competition from the rivals, business reliability crisis and under growing conscience of risks. Thirdly, he analyzed the management of crisis, marketing management, and execution. Further, he raised some methods to confront with the crisis on the base of above three factors. It will be a good example for other life companies if PingAn solve this risk crisis. As the result, to ensure a good and stable circle on growth of PingAn insurance company.