Research On The Performance Management System Of Life Insurance Company

Chinese insurance industry has developed very fast since the open and reform policy was implemented.With the growth of the insurance expenses,insurance industry is facing fierce competition.As an important part of the industry,life insurance plays an important role in strengthening and developing insurance industry and financial industry.The development of life insurance industry depends on the improvement of the individuals.So,doing research on enterprise performance management system,finding the way to improve the performance and finding the drawbacks have both theoretical and practical significance to promote competitiveness and healthy development of insurance industry.Through literature research,I have learned about the theory and management of performance management both at home and abroad.Taking XX life insurance company as an example,this paper analyzes the current situation and existing problems of XX life insurance company's current performance management system through empirical analysis.I analyze the problems of the company which include six aspects: firstly,the enterprise performance management system is imperfect;secondly,the evaluation of the performance is not scientific;thirdly,the criteria of the assessment is partial;fourthly,the procedure is broken,which has an emphasis on outcomes and neglects the other parts;fifthly,the safeguards are in short;finally,the performance management system has indistinct duties.Through comparative analysis,the different practices and advantages and disadvantages of performance management in life insurance companies are analyzed.According to the problems,I give the suggestions as follows: improving the parts of the performance management system and perfecting the safeguards in order to decompose the plan and strategy and rebalance the relationship between the development of the company and the staff,strengthening the training of the management and building the culture of the performance which is crucial to the promote performance,reinforcement the management of objectives to achieve the coordinated development from inside and outside.Performance management is a complicated system,which is effected by culture and ability of management.The result of this thesis will contribute to improving the management efficiency and competitiveness of the XX life insurance company.Meanwhile,it can also provide the reference to the other members of this industry when they want to build or perfect their performance management systems.