Study On The Service Innovation Of G Life Insurance Company’s Chengdu Branch Under The New Situation

As one of the three pillars of the financial industry,China’s insurance industry has shown a thriving trend,and has become an important part in the national economy.However,behind the strong growth,the existing insurance industry is facing three new challenges.The first one is that China’s economy has entered into a period of new normal.Under this background,the insurance industry develops into an upgrading channel.The second is that new insurance developing policy has been released.In 2014,the State Council issued “some guidance on accelerating the development of modern insurance services” releasing the dividends of industry development policy roundly.The third is the rising of “internet +”,which makes the insurance industry encounter the competitions with other industries.Considering the above new challenges,G Life Insurance Company,one of the largest and oldest state owned insurance companies,brings about “customer-focused” service innovation strategy,and takes it as a key point in the“13thFive-YearPlan”.However,viewing from the performance of the Chengdu branch of G Life Insurance Company,the largest municipal branch in Southwest China,the service innovation has not been able to find an effective way to promote.This paper takes Chengdu branch of G Life Insurance Company as research target,analyzing why the service innovation strategy has not been fully promoted through literature reading and questionnaire.And finally,the paper reaches the conclusion that the following 6 problem sexist in the Chengdu branch: the service lacking integrality,“customer-focused” strategy failing to implement,service process needing optimization,insurance consumption culture needing better cultivation,the service information level lagging behind,service evaluation mechanism needing improvement.Through digging deep for the root cause,the paper finds 6 reasons for the service innovation problems,and uses four-dimension module in service innovation and insurance company service innovation theory as theoretical framework,and puts forward 6 proposals for Chengdu branch of G Life Insurance Company on service innovation,which are to establish service innovation leading mechanism,to build up the “customer-oriented” concept,to optimize and re-engineer the organizational innovation process,to create innovative culture on insurance,to enhance the service efficiency by technology,and to construct an evaluation system to encourage innovation.The aim of all the suggestions is to help the company to maintain its dominant position in competition,and obtain a sustainable development.Considering that the Chengdu branch of G Life Insurance Company is a typical case of the municipal institution of state-owned insurance companies,its service innovation research can also apply to other insurance companies.This paper can enrich the research material in insurance service with realistic case.