Research On The Development Model Of The Insurance Company Community Store

According to the current development trend of the insurance industry in Ningbo, developingpersonal property insurance in the next few years will be the blue ocean areas of each insurancecompany. Because of the dispersed characteristic, constructing the insurance community storeswill be a powerful channel of developing personal property insurance.This paper researches on the development model of the insurance company’s own communitystore, selects the PICC Ningbo branch as an example. That is insurance company opening stores inlarge mature community, selling own insurance products and derivatives, decorating and equippingstores according to the uniform design, training sales staffs, designing product combination, tracingservices and assessing sales by self, offering company resources, providing a full range ofinsurance services for the community and surrounding residents.This paper uses the theory of hierarchy of needs, insurance marketing and customerrelationship management. At first, it analyses the necessity of construction insurance communitystores from four aspects, finds that the fierce market competition cause insurance marketing modeshould be innovated, the insurance company’s original sales channels should be breakthrough, theimportance of customer service decides the community stores’ prospect, and meanwhile,constructing community store is the insurance company’s strategic demand. Second, by calculatingthe insurance community store’s input-output and premium scale, analyzing the requirements ofstore construction, it makes a conclusion that the PICC Ningbo branch can implement store project.Third, it designs some aspects, such as site planning, functional orientation, mode of operation,sales team, product designing, in the process of the construction, sums up the main obstacles indeveloping community stores recently, including residents to accept new marketing method needsa process, insurance supervision bureau approvals for its exclusive product still more cautious,open community stores demand high sales and service ability, etc. Fourth, it makes a in-depth analysis of the four pilot community stores’ operation condition from three dimensions, such asproduct, activity and service. And then draw a conclusion that stores are still car insurance oriented,activities can effectively promote the premium. But the current operating results seam that theservice function has not yet been fully reflected, premium growth slightly weak. Insurancecompany’s financial support is indispensable. Finally, from the operating experience of pilot stores,we would see that stores must optimize the design of insurance products, develop comprehensivefinancial services, and extend the service function, to realize sustainable profitability.