Research On Shandong Market Development Strategy Of TP Life Insurance Company

Shandong Province is China's third largest economy and the second largest population in the country.Its GDP ranks third in the country and accounts for 1/9 of China's total GDP.In recent years,the rapid economic growth has greatly stimulated the development of the life insurance business in Shandong Province.With the increase in economic volume and the continuous increase in people's income,the excess wealth has made people's financial awareness and insurance a reality based on the continuous satisfaction of material life.Consciousness has been further enhanced.Life insurance premium income in Shandong Province has increased from 31.592 billion yuan in 2007 to 133.154 billion yuan in 2016.The average annual premium growth during the ten years is approximately 10 billion.In the entire insurance industry,the total premium of life insurance has also increased year by year.According to statistics,in 2016,the total proportion of life insurance premiums in Shandong Province has been as high as 58%.TP Life Insurance Shandong Branch entered the Shandong Province market in 2003.As of 2016,premium income from life insurance was RMB 8.928 billion.It is one of the major life insurance companies in Shandong Province,but it is still far behind life insurance companies such as China Life Insurance and Ping An Life Insurance..In order to better study the development strategy of TP Life Insurance for Shandong life insurance market,this article will analyze and identify the main factors affecting the development of the life insurance industry in Shandong Province from the aspects of socio-cultural background,economic development status,population development status,etc.on the basis of qualitative analysis.Factors,and use the industry data from 2007 to 2016 in Shandong Province,using multiple linear regression measurement methods to conduct empirical quantitative analysis for further scientific verification and analysis,and put forward relevant suggestions for the analysis results,and on this basis The TP Life Insurance Shandong Branch has provided several development strategies for the Shandong market.The structure of the article is mainly divided into six chapters.The first chapter is the introduction part.First of all,the research background and significance of this paper are clarified.Then,based on the review of related literatures on the life insurance market potential at home and abroad,the research ideas and main methods of this paper are determined.The second chapter is the theoretical support framework of this article,defines the concept,main role and characteristics of life insurance,and sorts out the relevant basic theory applied to study the market potential of life insurance.The third chapter introduces the development status of life insurance in Shandong Life Insurance Market and TP Life Insurance Shandong Branch,including the overall situation,premium income and comparative analysis of major insurance types.The fourth chapter first gives several factors that affect the potential of the life insurance market,and then uses the data from 2007 to 2016 to empirically analyze the potential of the life insurance market in Shandong Province,and gives the main influencing factors and their influence directions and sizes.Some of them are the basis for the development of the Shandong market of TP Life Insurance Company.The first chapter is based on the previous analysis,and gives the development strategy of TP life insurance company Shandong market from four aspects:product strategy,channel strategy,regional strategy and safeguard measures.Chapter 6 summarizes the full text.