An Research On The Running Of Huatai Insurance Company' Exclusive Agent

Insurance intermediaries in the insurance market of China are generally divided into three categories, namely, the insurance agents and brokers, the agents like banks and financial services which are licensed as insurance intermediary,and insurance salespersons. Huatai Insurance Company had the exclusive agent (EA) since 2010,and the agent owner just like the agent owner of State Farm Insurance and The Allstate Corporation in America, they own an economic interest in their business, this gives them the freedom to sell to a qualified buyer or the insurance company, or pass it on to their children or another family member. The insurance company give the agent owner a highly competitive commission structure, plus the recognition and production incentives to back it up. The insurance company offer a variety of ways to help brand the exclusive agents — from signage to furnishings to interior design experience — to enhance the customer experience and present the exclusive agents in a professional manner. As an agency owner, they can count on the support of the insurance company's multimillion-yuan national advertising campaigns, plus customizable local marketing and advertising materials —brochures, mailers, emails, etc.The main purpose of this paper is to analyze the running of EA of Huatai Insurance Company, sum up its successful experience and shortcomings, and put forward suggestions how to grow the agency business. The author points out that EA of Huatai Insurance Company have advantages such as good operating efficiency and effective management,but also need to pay fixed operating expenses, and also face the competition of new sales channels such as Internet insurance. It is necessary to improve the people's insurance awareness, expand the service function of EA and have ongoing dedicated support from Huatai Insurance Company. Through the research, this paper argues that Huatai' EA has proved its vitality in practice, but it is still in the initial grow stage, and it is difficult to become the main sales channel of insurance in a short time.And the EA's long-term development is based on the strong insurance awareness of people and the better insurance services. Finally, in order to grow EA, we must improve the insurance company's management capabilities,enhance the people's insurance awareness, and improve insurance regulatory policies.