A Study On Marketing Strategies Of Vehicle Insurance Of PICC In The Context Of Premium Rate Marketization

In Feb 2015,the China Insurance Regulatory Commission issued "On deepening the reform of the management system of the commercial vehicle insurance clauses and premium rates opinions".In Jun 2015,motor vehicle commercial auto insurance rates market-oriented reforms firstly begin in six cities,Shandong,Qingdao,Heilongjiang,Shanxi,Chongqing,and Guangxi and then cover the whole country.In the context of the new round market-oriented rates reform,the competition in vehicle insurance market will become more intense,which put forward higher requires for the operation and management of insurance companies.The traditional price war has been unable to meet the current market demand.Facing the new challenge,making and implementing a particular marketing strategy have become an everlasting way for insurance companies.Firstly,this paper introduces concepts of commercial motor vehicle insurance(short for vehicle insurance in the title and the paper)and the related theories.Then the paper reviewed the history of PICC development and the marketing situation.Base on the strength,weakness,opportunity and threats of vehicle insurance of PICC,the paper interprets the current chance and challenge that PICC faced under the new rounded rates reform as PICC Fuzhou branch an example.And put forward an optimizing strategy for PICC in product,price,channel,promotion.The general idea of the optimizing strategy of PICC:In product strategy,should pay attention to the development and innovation of the insurance products;the price strategy,should implement the differential pricing strategy;channel strategy,should strengthen the construction of channels;promotion strategy,should be endowed the promotion with new connotation;service strategy,we should enrich service content,widen the service field.The paper further gives advice on how to implement these strategies for PICC.As a staff of PICC,on one hand,this paper can promote the sustainable development of PICC under the market-oriented rates reform.On the other hand,it provides some constructive references of the development of auto insurance business,which will promote the healthy development of the vehicle insurance.