A Study On The Differentiation Of Insurance Products In China

Since the reform and opening up,China has resumed the development of the insurance industry, the level of development of China's life insurance industry has been significantly improved, the insurance industry has become an important part of China's economic market. As China's insurance industry opened later, the level of development is lagging behind, at the same time, a large influx of Chinese and foreign competition also makes this market competition is more intense. According to the opening hours and the proportion of market share, China's life insurance industry from the initial China Life Insurance has grown into a 68 companies today, the fierce competition. In the face of consumer demand for personalization and diversification of life insurance products, most of the life insurance companies can not be effectively satisfied in the similarity of the sales force, the high degree of convergence of the marketing model and the similar management of the management mode. At present, the domestic insurance consumption market volume is so great,insurance companies in order to stand out in the market competition to consider creating a differentiated business situation.Life insurance products related to the merits of the life insurance business market competitiveness of the size, while life insurance products is the cornerstone of life insurance companies operating. With the continuous development of society, people's demand is also increasing, China's life insurance products from the early traditional single insurance slowly developed into a variety of insurance types. But the life insurance companies, whether in product marketing model, or market positioning are highly consistent, which also led to the homogenization of life insurance products is very serious, and the high cost of product innovation, the company for product innovation Are also "learn from each other", so the product innovation is also lagging behind the needs of consumers. Therefore, Taikang Life not only created a new Internet insurance platform,but also launched the "lifetime contract", which is insurance products innovation. Today,the difference between the products of the insurance market is not particularly obvious,and the future of insurance products is not just the product design ideas of the novel, and more is the difference between the marketing strategy and the advantages and disadvantages of full-service. For the life insurance industry, the insurance company has gradually penetrated into people's "basic necessities" and "life and death" in all aspects,this is the result of differentiated business strategy.This article takes the product innovation, the strategic innovation and the service innovation as the research topic. This paper analyzes the ideas and methods of product innovation strategy of Taikang Life Insurance Company, and makes a comparison with the domestic failure cases to explore the different ways and methods of competition for insurance enterprises in China.The first part of the product innovation, Ai Youhui launched the "birth contract" is a protective insurance financial products, it is guaranteed to pay the money and the future will enjoy the difference between the service. The insurance product has the effect of investment income, and the price is not affected by inflation. The second part, the strategic innovation mainly from Taikang Life Insurance Company product innovation strategy of theoretical research and specific design and other aspects of the discussion. At the same time, it also briefly introduces the development of China's life insurance industry, the characteristics of Taikang Life Insurance Company's bundled sales service products,and then analyzes some of the problems and influencing factors that affect the integration of amateur Internet, through the analysis of opportunities and threats Found that Taikang Life Insurance Company's current "Internet + funeral" model is the insurance product innovation and market segmentation, but also all walks of life and the Internet integration of a development trend. The third part, service innovation should include a complete upgrade of their own services and the realization of "Internet +funeral" bundled service innovation. Adhere to one-stop service, establish insurance industry service standards. Taikang Life insisted on the interests of customers first, in the service innovation to do the industry-leading level.