The Research On Competitive Strategy For C Insurance Company

Since the resumption of domestic insurance business in1979, insurance needs have expanded rapidly, especially after the substantive opening of the insurance market. In2010, the insurance premium income reached RMB1.45trillion yuan,2.7times more than in2005and total assets exceeded RMB5trillion yuan,3.2times more than in2005. As an important part of insurance, non-life insurance has made tremendous progress, whose premium income increased from460million in1980to more than400billion in2011, with an average growth rate of almost30%a year, becoming one of the fastest-growing sectors of the national economy in China.As one of the largest non-life insurance company, C property insurance Co.,Ltd. has achieved a historical step, premium income having exceeded hundreds of billions, firmly occupy the top spot in non-life insurance market. Standing at the new starting point, company must be based on scientific development view and Evergreen’s ambition to create a new era of the development of the company. The next ten years is the key to seize the opportunity to speed up the development of the company. Company should seize the rare historical opportunity of development, analysis, argue, design and give full play to advantages and according to its own changed internal conditions, develop effective competitive strategy of adapting to the new environment, establish profitability as the core business philosophy, space for future healthy development. C company’s external opportunity:China is accelerating as the world’s largest economy; China’s insurance market will take this as the world’s most important insurance market; Building benefits in higher levels of society in the process of a billion of population, China’s rapid economic growth, accelerated transformation of society, sustained income growth and escalating industrial structure create a favorable environment for the development of the insurance industry.The Development of China’s Insurance Industry "Twelve-Five" Program called for speeding up the development of the insurance industry to create a favorable environment for the development of the insurance industry. New Insurance Law provides a legal guarantee for standardizing the insurance market. The increase of power of resident consumption stimulates the demand for insurance and the threat of alternatives is very small. At the same time, threats to C Company:industrial chain integration, low profitability of the industry and stricter regulatory aspects. Internal advantage to C Company:human resources, brand reputation, customer resources, social resources, Web resources, sales ability, and so on. But as to the company’s ability to invest in risk identification and control, the disadvantages are obvious. Product research, development capabilities, operational management and control capacity, service capacity, and so on are at the secondary level.This article sets C property insurance company for the study, combining theoretical analyses and empirical analysis to analysis the c property insurance company, and through comparative analysis concludes that C company must take overall cost-leadership competitive strategy to be justified in the competition. And according to the new development goals of C Property Insurance Co., LTD, under the current external environment and internal conditions, C Property Insurance Co., LTD will eventually use differentiation competition strategy and make the feasibility evaluation. C company will eventually make the diversity of the competition strategy implemented effectively, and before that it should take the value as the level of standard market segment, implement differentiation market and establish control system. Securing strategy implementation of this paper not only helps to cultivate the core competitive power of the C Company in the fierce competition to be in the leading position. At the same time, the conclusion of insurance industry can also provide reference templates within the company in making competition strategy.