Innovation Research On Agency System For Life Nsurance Sellers In China

The agent system, which was introduced into China by American InternationalAssurance Co. Ltd. in1992, has become one of prime powers for decades of rapiddevelopment of Chinese insurance industry. On the whole, the agent system in China hasdeveloped favorably and become the main channel of managing the life insurance market.However, the rapid development cannot conceal existing problems of the agent system. Astime goes by, the shortcomings of the agent system appear gradually, for example,ambiguous legal status of insurance sellers, unsound access permission mechanism,imperfect training and promotion mechanism, irrational commission system, lack of honesty,existing gaps of regulation mechanism, etc.. The agent system cannot satisfy the competitiveenvironment of current insurance market. Also, the sustainable development of the wholelife insurance industry faces a severe test. At present, the reform of current managementsystem for Chinese insurance sellers is impending. Whether you can find out a scientific andeffective marketing system, it plays a key role for the rapid, healthy and harmoniousdevelopment of Chinese life insurance market and even the whole insurance market.After the introduction to the current insurance market and seller management system ofdeveloped countries like America and Japan, this paper presents the significance of theirdevelopmental outcomes for us based on the current situation of Chinese insurance market,and then leads to China’s existing management system for insurance market sellers, namelyagent system and employee system. It further elaborates the traits and developmentadvantages of these two big systems as well as their limitations in China’s present market.Finally, it comes to a conclusion through the cases, comes up with a new seller managementmode where employee system and agent system coexist, which is suitable for China’snational condition and the development of Chinese insurance market, and puts forward apractical plan.This paper emphasizes normative analysis and empirical analysis and comprehensivelyapplies the induction, deduction, classification, comparison and other methods. It starts touse the comparative study method to conduct an overall inspection of Chinese seller systembased on foreign advanced experience, proceeds to use the method of linking theory withpractice to conduct an in-depth research and analysis of Chinese insurance seller management and then puts forward development suggestions, which makes the researchmore scientific, rational and realistic and has certain practical guiding significance to thesustainable development of Chinese insurance industry and the system reform of insurancesellers.