The Research On Competitive Strategy About Allianz China Life Insurance Company Limited

After60years’ rapid development, China’s insurance industry has grown into oneof the six major international insurance markets, and it has played an extremelyimportant role in China’s economic development, social progress and improvingpeople’s livelihood. Since reform and open, the insurance market entities had grownto several hundred from the earliest old three, multinational insurance giant anddomestic capital have aimed on the China’s insurance industry in order to share thegreat opportunities that China’s reform and open and rapid economic developmenthave brought. However, China’s insurance industry, especially the development of thelife insurance industry, has suffered a lot of confusion and problems, such as marketconcentration is too high, homogeneous product positioning, small and medium sizedbusinesses are in a difficult situation, the people have the insurance consumptionconcept of a deviation, etc. These problems have become the factors of limiting thedevelopment of China’s life insurance industry. Furthermore, the survival dilemma ofsmall and medium sized insurance company can be considered as the key factor thatwhether China’s life insurance industry can grow further in the future and China’s lifeinsurance market can continue to maintain the international attractiveness or not.In this paper, Allianz China Life Insurance Company as the research object, usingthe basic model of strategic management theory and methods of an alysis, the companyaims to research and develop competitive strategies. First, the use of PEST tool instudying Allianz China Life Insurance Company’s macroeconomic environment, usingfive forces model to analyze the competition in the industry to identify theopportunities and threats the company is facing. Next, analyze the company’s internalenvironment such as resources and capabilities to identify the strengths andweaknesses. Then, combine the development experience of domestic and foreign tojudge the development trend of China’s insurance companies, on this basis, us ingSWOT analysis and general competitive strategy model, by a comparative analysis ofcompetitive strategy that Allianz Life Insurance Company can adopt, pointing out thatdifferentiation strategy is the inevitable choice. And then, according to the company’sinternal key link analysis in the value chain to determine that the differentiationstrategy of Allianz China Life Insurance Company focuses on product differentiation,service differentiation, marketing channels differentiation, personnel differentiation and brand differentiation. Subsequently, the implementation of differentiation strategywas specifically addressed.In the course of the study, this article has used related st rategic managementtheory and appropriate strategic analysis tools to carry on strategic orientation anddesign and implementation plan for Allianz China Life Insurance Company. It hasstrong operability. Meanwhile, the study has reference value for other companies inthis industry.