A Study On The Development Strategy Of Jixiang Life Insurance Company Limited

In recent years, China’s insurance industry have made considerable progress, the rapid increase in life insurance market, substantial growth in premium scale, the whole industry has entered a new stage of opening up and accelerate development, it has broad market prospects. In this context, Jixiang life insurance successfully opened.in2012, As the first native insurance institutions in Hunan Province, its establishment is very important for Hunan province to promote the economic and social development.As a new company, Jixiang life insurance need to have a clear development strategy, which can guide the enterprises to survive in the fierce market competition, and to lay a solid foundation for the development of future. By using PEST, five forces model analysis methods, we did a comprehensive analysis of the external environment for Jixiang life insurance from macro and industry level, then, by using SWOT analysis model, we did an in-depth analysis of the internal resources and capabilities. Based on the summary and comparison of Jixiang life’s competitive advantages and disadvantages, opportunities and threats, we introduced the strategic development of Jixiang life should choose the growth oriented development strategy. Namely, Jixiang life Insurance should make full use of it’s advantage of government resources and shareholders in the early stage, the company should based in Hunan, tap the Hunan Market, and then to expand to other developed markets. And then, By strengthening the product innovation and improving the quality of services, quickly enhance it’s business scale and brand influence, building it’s core competence, Eventually form a differentiated competitive advantage. Finally, this article introduces the detailed steps for implementation of the strategies.