Marketing Strategy Research Of Bancassurance Of China Life Insurance Gu Angzhou Branch

Originated in the1970from Europe, Bancassurance is a product of financial integration, providing insurance products and services through banking channels, with the mutual cooperation of banks and insurance companies. As a new insurance sales model, it developes rapidly over the world.Bancassurance only found in the1990s in China but develop and raise so quickly that it has become one of the important sources of the life insurance premiums. China Life Insurance Company Limited Guangzhou Branch (Named CLIC below) is one of the companies which started bank insurance business in early years, and the premium amount and growth rate is in a trend of rapid developing. However, under the rapid increasing condition of Guangzhou bancassurance competitives and fierce competition market, the company’s development is restricted by some problems, such as the rising of banking charges, too simple of product structure, and misleading sales.Through the research of marketing environment on insurance business of CLIC, the article takes deeply analyzing of marketing problems encountered in the company’s development, as well as the strengths and weaknesses of the company, the opportunities and threatens of the external market environment, sum up and develop a marketing strategy program for CLIC on bancassurance business. An safeguard measure for implementation is drew to ensure the program to be promoted smoothly.The writer have years of experience in the insurance industry, basing on the MBA theoretical knowledge, theory with practice, the article develop some practical marketing strategies and safeguards, that could be helpful to the bancassurance business of CLIC, as well as some reference for other insurance companies and the relevant government authorities.