| Insurance is one of the most important industries in the financial industries.It plays an irreplaceable role in ensuring the normal and stable development of the national economy and improving the social security system.Compared with the developed countries,the life insurance industry in our country starts late.China's insurance industry is still in its initial stage due to economic development model of China.As the main body of the insurance industry,most insurance companies strategy is not clear.Their strategy is mainly competition for business and struggle for survival.CITIC-Prudential Life Insurance Company is a Joint venture set by CITIC Limited and Prudential.There are 15 branches in China,Shandong branch was established in Ji'nan in 2006.Prudential Life Insurance Shandong branch since its inception has made some achievements,showing a good development trend,but there are many problems:Business scale is small,operating expenses are not enough to support business development;No breakthrough in business channels;management is difficult due to the differences between organizations;Employee career planning is not clear enough,performance-oriented is not definite.Based on the existing problems,using the PEST framework,"five forces" analysis model,SWOT strategic choice tool to formulate the company strategy.That is Prudential Life Shandong branch should adopt a development strategy,and to take the integration strategy to enter the field of insurance trust.By the analysis of the Boston matrix,it shows that company should develop platform based products,get as much profit as possible from traditional insurance,investment linked insurance and participating insurance to support the company's future development.Competitive strategy should adopt the differentiation strategy by using product differentiation,channel differentiation and management differentiation.Finally,the paper puts forward the safeguard measures for the implementation of the strategy in the adjustment of the organizational structure,classification support different institutions,starting Internet plus business and optimizing human resources management. |
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