Research On Product Strategy Of Internet Insurance Company In China

The "Internet +" strategy has risen to national strategy since the 2015 government work report put forward the "Internet+" development goal.The connection of Internet economy and traditional economic produce massive amounts of data,making "data economy" become the new thinking of The Times.China Insurance Regulatory Commission strictly observes industry risks and gives guidance to let insurance return to its essence.It has become a new trend in the industry that insurance service real economy.Therefore,"Internet + Insurance" has provided a new opportunity for the insurance industry to adapt to the development of the times and to innovate insurance operations.Then the Internet Insurance Company becomes the new organization form of insurance industry.The popularity of the Internet boots change in business model.All walks of life have joined the wave of the Internet like various insurance companies,insurance agencies,and third-party insurance platforms,which are exploring the path of Internet insurance development actively in order to seek for survival,innovation and breakthrough in the transformation.Internet insurance is more highly efficient,flexible and convenient than traditional insurance,which has received widespread attention from the industry.In 2013,ZhongAn Insurance Company was established as the first Internet insurance company in China.Subsequently,TaiKang online,YiAn insurance,AnXin insurance were successively approved for establishment.It marks the advent of the rapid development of Internet insurance and becomes a new trend in the industry in China.At present,scholars mainly focus on the development prospects,development model,problems and countermeasures on the internet insurance,which most are macroscopic perspectives and lack the microcosmic perspective on research.In particular,there is a lack of research on China's four Internet insurance companies that are purely online.Therefore,this article uses the comparative analysis in the industry to research the Internet insurance company's product strategy from the microcosmic perspective.This article is divided into four parts.First part is theoretical analysis that combing the general theory and relevant theories of Internet insurance and product strategy for laying an analytical framework in the postscript.The second part is the reality analysis that summarizing the development background and status of internet insurance company's product strategy based on theoretical analysis.And then discover the problems with internet insurance company's product strategy from product development,product portfolio,product brand and product life cycle.The third part of the case analysis that enumerate the development of ZhongAn Insurance and TaiKang Online product strategy through a combination of qualitative and quantitative methods and summarize its characteristics,which is also the key content.Then comparing the product strategy practices of two companies from four aspects:product innovation,product complaints,public opinion and major financial indicators,so provides support for the optimization of the latter by comparing the differences and causes.The last part is a countermeasure that makes corresponding suggestions for Internet insurance company product strategies though combining the issues summarized in the previous article.It is from product innovation,product complaints,public opinion and major financial indicators.This article discusses the development of internet insurance companies in China from product strategy from new perspectives that scholars pay less attention to.The paper selects ZhongAn Insurance and TaiKang Online to study as typical cases,and fully analyze the implementation effect of the product strategy of China's Internet insurance company through quantitative comparison.We hope to use the analysis of typical cases to provide useful guidance and reference for the future development of China's internet insurance,and to promote the healthy and sustainable development of China's insurance industry.