Research On Improving Of Chinalife Insurance Company's Core Competence

China Life Insurance has long occupied the leading position in insurance market of China. With China's rapid economic growth, China Life Insurance face fierce competition from international and domestic insurance company of great strength, advanced technology and rich experience, showing a declining market share and slow premium growth momentum. To firmly consolidate the leading position in the market, China Life Insurance has to change the extensive growth way and improve the company's core competitiveness, in order to secure the company into a world-class life insurance companies.The core competitiveness of enterprises will lead changes of the traditional business notion, what means that firms are no longer overly concerned with market share, but focus on market value, not emphasize too much on vertical integration, but stressed the product R&D and insurance services which will be provided to the internalization and sold to the enternality. Overall, the future competition between insurance companies is mainly characterized by the core competitiveness competition.This article is on the purpose of building China Life Insurance as a world-class life insurance company, using the theory of core competitiveness to annlyze China Life Insurance's development.This paper first defines the core competitiveness of enterprises, and analyze its property and general elements, and then according to further analysis of the characteristics of insurance companies, figure out the the constituent elements of insurance enterprise's core competitiveness, which include:products innovation, market development and maintenance, the overall risk management, organizational learning, corporate culture, the five elements. The interaction mechanism between these five elements is that, product innovation is the basis for training the core competitiveness, market development and maintenance capacity is the key pulling power, organizational learning is the internal driving force, the overall risk management capability is the guaranteed power, and corporate culture is the important support.The followed is about the current achievements, advantages and the problems and shortcomings of China Life Insurance, and based on these conditions, the core competitiveness of China Life elements is analyzed, getting the conclusion that the core competitiveness of China Life needs to be improved in all aspects. Including:product innovation ability is weak; have a certain market development and maintenance capabilities, but also many problems and some other aspects in need of improvement; establish a more comprehensive system in the overall risk management capability, but face insufficient investment and lack of product design capacity and other problems during the specific implementation; corporate culture fails to set up customer-focused conception for the employees and emphasaze the individual employees'achivement; the lack of effective organizational learning capacity.Finally, this paper construct targeted approach to enhance its core competitiveness, including through enhancing the level of human resource management to build the core competitiveness foundation; by improving product innovation to meet the increasing customer demand; the use of customer management to create customers' value of loyalty; take use of channels innovation and conflict management to increase their competitiveness in the market; establish great corporate culture of integrity and service to insurance companies to establish a good image; build a learning organization so as to provide the organizational and intellectual support to enhance the core competitiveness; continue to expand channels for insurance funds to improve the level of income of insurance products, leading to comprehensive and integrated to enhancement of China Life Insurance's core competitiveness.