Research On The Development Strategy Of Hebei Province Small And Medium-sized Insurance Companies

The insurance industry is an important component of Chinesefinancial system,people's awareness of insurance is growing with the rapid development of the national economy.Meanwhile Small and medium-sized insurance companies have rapid development in Hebei province,whose influence and market share are growing,which have become an important part of the insurance subject in Hebei province.But as the increase of insurance subject,the competition among Small and medium-sized insurance companies are becoming more and more intense due to product homogeneity,scale,management and so on,a lot of Small and medium-sized insurance companies present shortage of potential and fatigue of boosting.This paper aims to take“A”insurance company for example to make clear of the problems which exist in the development ofthe Small and medium-sized insurance companies in Hebei province,and then develops a suitable model for the sustainable development of small and medium-sized insurance companies in hebei province through the analysis methods and models.The main work of this paper includes the following:(1)The insurance companies are divided into large insurance companies and Small and medium-sized insurance companies according to market share.Based on which the paper obtain the number and market share of small and medium-sized insurance companies in Hebei province in accordance with the analysis of 2015 data.(2)By means of SWOT analysis model and Porter's five forces model,the article deeply analyses the advantages and disadvantages of“A”insurance company to get the following conclusions: in terms of money,brand and scale there are congenital disadvantage for“A”company,which can't be changed in the short term,needing a longer process of development to metamorphose.As regards current situation of “A”company,facing competitive pressure from large enterprises and the same type companies,in order to stand out in an invincible position,which needs to clear and definite its own characteristics and advantages,seize market opportunities,make best use of the advantages and bypass the disadvantages,adopt differentiated development strategies to achieve a breakthrough.(3)Aiming at the present situation of “A”company,This paper introduces the concrete implementation scheme for the differentiated development strategy,which is mainly divided into four stage:planning phase,design stage,promotion stage,development stage.Company,which needs to looking for the right market segment according to enterprise characteristics and advantages at the planning stage,that makes research for product on the basis of the result of market research at the design stage,that focus advantageous resources for product promotion at the promotion stage,that achieves goal mainly through innovative service at the development stage.In order to guarantee the reliability of the scheme,company also need to set up a series of security measures,including optimization of organizational structure,strengthening the management innovation,enhancing human resource security and perfecting training system.