Development Countermeasure Research Based On Differentiation Strategy Of X Insurance Company

Insurance industry in China has shown strong growth in recent years,and has been a crucial component of China's financial system.As the first listed insurance company,X Insurance Company has shown both leading profitability and revenue growth in China.Throughout X's years of growth and development,differentiation strategy has always been one of the key drivers to success.Therefore,it is necessary to study the future development strategies of its differentiation strategy and then propose targeted countermeasures.This paper takes X Insurance Company as the research object,and explores the company's differentiation strategy.Based on the review of relevant theories and literatures,the article first analyzed the internal and external environment of the company and summed up the current opportunities and pressures the company is facing.Then,it concluded that the company's strategy for selecting differentiation was inevitable.Subsequently,a "five factors" analysis framework including products,markets,services,images,and personnel was established to systematically compare the implementation effects of differentiated strategies between companies and similar companies within the same industry,and summed up the advantages and disadvantages of the company's current differentiation strategies.Besides,the article used the time-series model to study the influencing factors of the company's differentiation strategy.It is concluded that the concentration of product insurance products,the concentration of life insurance products,product surrender rate,the size of marketing team and the average age of senior executives are significant factors of company differentiation strategies.Significant factors of implementation.Finally,the Granger causality test and impulse response function are used to explore the mechanism of the company's differential strategy development path.Based on the above research,the combination of quantitative analysis and qualitative analysis provides development strategies for the company's future selection and implementation of the differentiation strategy.The research in this article not only analyzes the specific implementation effect of the X insurance company's differentiation strategy,but also provides a scientific and reasonable development plan for the company's future development.It also serves as a benchmark for the development of the insurance industry.