Profit Model Innovation Strategy Research Of The TA Insurance Company

At present, as macroeconomic, regulatory and technological conditions continue to undergo profound changes, the insurance industry is faced with unprecedented opportunities for development as well as risks and challenges unknown before. Considering the increasing pressure of transformation, the improvement of profit model has become the primary task for insurance companies. This article makes an in-depth analysis of the profit model of TA insurance company which contributes many innovative ideas, methods and strategies to other insurance companies.The article is divided into six parts:the first part is the introduction of the paper; the second part of the paper defines the concept of profit model and elements of related theories; the third part analyzes the opportunities and challenges that TA insurance company really face to improve its profit models; in the fourth part of the paper, scientific quantitative analysis is used to build the TA insurance company profit model; and the fifth part puts forward the TA insurance company innovation pattern research; the last part of the paper gives the main conclusions and the problems needed to be further studied.This article has established several key points though detailed and structured analysis. Firstly, it defines five major problems of profit model which are typically common in the insurance companies of our country. These problems can be listed as below:the confusion and short sight of profit sources, the poor performance of investment, the conservative ways of marketing and the low quality of sales and services. Secondly, this article demonstrates efficient ways of improving profit model which include:to enhance the safety of business, to optimize marketing mix, to launch the product innovation and to improve service level.This article has borrowed theoretical and practical results from many domestic and international well-known scholars and experts. By absorbing all these experiences, this article has demonstrated several innovative points. First of all, it has raised the development and evolution of insurance profit model for the first time. Secondly, it has proposed the ways of profit model transformation which can be described as’marketing positioning+management+services+innovation+products’. Thirdly, it has offered solid suggestions of the future development of the insurance industry profit model.