An Insurance Marketing Agent And Life Insurance Company To Continue

The system of personal insurance marketing agent was introduced by AIA to China in 1992. Because of the extensive development mode of the system of personal insurance marketing agent in China, a high marketing staff turnover rate has become the common fault in this industry. As a result, there are more and more business quality problems, such as unguaranteed follow-up service, more short-term behavior of marketing staff, sales misleading, insurance fraud, insurance lure etc., which directly lead to bad continue rate of life insurance company, thus severely hampered the sustainable development of the industry and the rise of life insurance companies’ profits.According to the successful experience and mode of life insurance marketing at home and abroad, and the principal-agent theory, the basic law, training system, renew service system, back office management system, new contract quality control and process management of life insurance companies has been researched from the two aspects of interests lead indicators and process control in this article. Meanwhile, the development situation of Life Insurance Hangzhou branch has been used as a case in the article.There has been some suggests in this research. Life insurance companies should 1) establish high-quality renewal award system while paying attention to the income of agents, and combine the continue rate with the new contract commission reward of agents.2) Establish the seniority salary model, increase the opportunity cost of changing jobs for the agents, improve their expectations of future income and establish a stable long-term game.3) Establish an evaluation system, which could improve the game of a individual life insurance company and an agent as a game of the life insurance industry and an agent.4) Combine the back office management cadre performance with the continue rate through the strict control of process indexes for back office staffs, and the establishments of rules and regulations such as a new contract review management approach, a renewal process index management approach, a self-preservation measure for the administration, and a rule of the second policy surrender dissuade etc., which reduce the information asymmetry in the process of the game.