Research On Competition Strategy For Auto Insurance Of PA Property Insurance Company Yantai Branch

With the continuous improvement of the economic and social progress and people’s living standards, the demand for car ownership and also increase year after year. On the current operations of the company in terms of property insurance, auto insurance has become a major source of business property insurance companies, auto insurance business accounted for more than 70% of the property insurance market, the volume of business. Each property insurance company’s operating and competitive focus has invariably placed on the auto insurance business. China’s motor vehicle insurance business after years of development, has made great achievements, but at the same time, some of the vicious competition fee is also more significant. In recent years, more and more insurance companies, more competitive. On the one hand, most insurance companies because of lack of market infrastructure, to seize market share, using methods to reduce rates to attract consumers. On the other hand, new insurance companies to enter the insurance market, so that the original insurer aggravated the crisis, in order to maintain a competitive advantage in the fierce competition, the old and new company infighting. Based on the above background, the paper Yantai branched PA Insurance auto insurance business competitive strategies discussed were studied. In this paper, theoretical and analytical framework for strategic management, contact the company’s business situation, the use of PEST analysis, Porter’s five forces competitive environment analysis of its external in-depth analysis through SWOT analysis and other methods of internal management the analysis of the current situation, and to its problems were summarized for the development and implementation of strategic planning Yantai Branch PA Insurance auto insurance business strategy system provides a sufficient basis.