Research On Competitive Strategy Of Automobile Insurance Business Of A Insurance Hebei Branch

The deepening reform of commercial vehicle insurance rates has promoted further competition in the automobile insurance market.Increasingly fierce market competition and competition for market development space make the operation of property insurance company’s automobile insurance business facing further test.In addition.the regulation of intermediary fees in the automobile insurance market has been rectified to curb the channel price competition in the main form of raising intermediary fee standards.Small and medium-sized property insurance companies have no voice in the market competition because of their small business scale,incomplete institutional network,weak brand influence,and their business is mainly obtained through price competition through channels.The issuance of the Circular on Regulation Requirements of Commercial Vehicle Insurance Rate issued by China Banking Insurance Regulatory Commission further disrupts the inherent survival mode of small and medium-sized property insurance companies,weakens the competitive advantage of channel prices and squeezes the survival space of intermediaries.If small and medium-sized property insurance companies want to achieve development,they must change their own business model.Re-positioning market value and differentiating development with large-scale talent insurance companies have changed from focusing on scale expansion to effective growth,from focusing on channels to focusing on customers and services.Implementing high-level customer relationship management is of great significance to the transformation and development of small and medium-sized property insurance companies.This paper takes Hebei Branch of A Insurance Company as an example.Firstly,it expounds the research background and significance,and summarizes the literature of relevant scholars.Secondly,this paper analyses the current operating situation of A company,and expounds a series of pressures faced by A insurance company’s automobile insurance business under the background of the reform of commercial automobile insurance premium rate and the increasingly stringent regulatory environment.These pressures include:loss of the company’s original channel advantage,price competition of intermediary channel has been unable to cope with the current market form,and the original distribution channel pattern will be changed.Breaking up,the company also faces the problems of decreasing the premium adequacy rate of automobile insurance,increasing the comprehensive cost rate and increasing operating pressure.Thirdly,this paper analyses the internal and external environment facing the operation of the automobile insurance business of Hebei Branch of A Insurance Company.From the perspective of solving the problem,combining theory with practice,using SWOT analysis framework to determine the strategic positioning,and further analysis of the problems faced by Hebei Branch of A Insurance Company,it draws the most suitable development strategy for Hebei Branch of A Insurance Company,and puts forward the corresponding strategy.Suggestions on the implementation of differentiation development strategy.Finally,according to the current specific situation of the enterprise,the safeguard measures are drawn up.This paper hopes to help A Insurance Company Hebei Branch fully grasp the development opportunities of the external market environment,give full play to its own advantages,further promote and improve the development strategy of automobile insurance business,and carry out differentiated competition by exploring and researching the development strategy of automobile insurance business under the current market environment.