Research On Development Strategy Of YL Life Insurance Broker Company

Compared with development history of more than 300 years in European countries,the insurance broker industry in our country seems to be too immature as it just began to develop in 2000.Because of its weak foundation,the early extensive management and more attention paid to scale rather than quality,there are many problems in our insurance broker industry,such as low quality of strategic management,inferior comprehensive competitive power and weak competitiveness of the market.Meanwhile,insurance broker companies put stress on property insurance product,with life insurance product occupying 15%of insurance market's all industries,and its agent commission 13%of insurance market's general income,and the development of life insurance product lags far behind that of property insurance product.However,due to characteristic of short insurance period,stability of property insurance product is not as good as that of life insurance product and cannot bring incessant commissions as many as life insurance product,when faced with marketization of property insurance rate.Furthermore,there is a lack of professional insurance broker company whose main business is life insurance product at home.This paper will summarize the research idea,based on academia's present research achievements of insurance broker market and enterprise.Moreover,it carries on research and analysis by creatively taking YL Life Insurance Broker Company for example,which is different from the research method of just forecasting the market's future development and prospect,mainly using the important tool of macro-environment,PEST analysis model,and taking qualitative and quantitative analysis method.Firstly,it puts forward conception of establishing a company and the major problems.Then,it describes the exterior strategic environment of the insurance broker company,analyses its major development model,including corporate structure premium income,major business,and management strategy and so on,by drawing lessons from the countries with well-developed insurance broker,and raises the business performance and major problems of the insurance broker business.Next,it analyses the exterior strategic environment of the insurance broker company,evaluates it's opportunity and threat,the feasibility of setting up the company,the advantages and disadvantages of the internal resources and capacities based on establishing and development rules of domestic insurance broker companies,and finally work out development strategy.This paper places emphasis on the analysis of feasibility of establishing the YL Life Insurance Broker Company and concrete measures of implementing strategy,and finds out the major business direction,which is to extend consultancy and assess business of personal and family risk management,mainly focus on business of medium and high net worth individuals,make the company distinguishing and special in customers' choice and products' collocation.,and make full use of brokers' specialties.At the same time,it is also important to pay enough attention to talent management from a strategic height as talent is equal to future's development opportunity and carry on management of talent and building of talent team in an all-round manner,such as the establishment of professional team of counselor,management of learning organization,building of talent encouraging system and so on.Moreover,it is also of necessity to develop strategy and plan in all directions,such as combining diversified channels of sale,like AMP distribution model and management based on professionalization,enriching service content,establishing VIP customer service system,integrating customer relations and promote market brand.This paper is highly practical and operable as it combines research with practice and the author hopes to promote healthy and sustainable development of insurance broker market,and finds out a specialized and standardized management development way which suits the market rule and specific circumstances by taking the YL Life Insurance Broker Company for example.