The Research On The Network Insurance Marketing In China

WangXian Net, China’s first insurance website with the online insurance application function, was founded in March,2000. The network insurance marketing in China has developed for more than10years since its establishment. Although the insurance network marketing in China has great potential, its development result is unsatisfactory. It is still at an early stage.This paper introduces the main characteristics of insurance network marketing and business models of websites. Some mainstream network marketing theories are applied to the insurance industry and comparisons are done to compare the basic situations of the insurance network marketing at home and abroad. The paper also introduces the innovation diffusion theory framework to analyze the interior factors affecting the development of insurance network marketing industry. At the same time it also takes exterior factors, such as market and law, into consideration. Finally it introduces some specific strategies and promotion methods of network insurance marketing in the case of website A, such as email marketing, search engine marketing and microblog marketing.This paper finds that:(1) the email marketing, search engine marketing and microblog marketing in insurance network marketing have their own advantages. They should be used comprehensively to better promote the insurance network marketing.(2) The related legal system of the current insurance network marketing is not perfect. The legal effects of network contract, customer privacy and third party insurance agent license remain to be further clarified by laws and regulations.(3) The Oligopoly insurance market structure is not good for the development of insurance industry network marketing. But relevant data shows the decline of market monopoly, and insurance companies also hope to use the network marketing channels to increase firm competitiveness.(4) Relative advantage, compatibility, complexity, trialability and observability of innovation affect each other and the development of insurance network marketing in certain degrees. Among them relative advantage and compatibility play more important roles. The relative advantages of insurance network marketing are obvious. But its weak compatibilities in law, company organization and concept reduce the effects of these relative advantages in a large degree.(5) In China there is only a small percent of people adopting insurance network marketing. But the absolute number is still considerable due to China’s large population. Furthermore, with China’s fast development, the rapid popularization of Internet and people’s increasing consciousness towards insurance, the age of the Internet users and policy-holders will be flattened, resulting in the increasing market potential of insurance network marketing.