Research On The Development Path Of Small And Medium-sized Insurance Companies

In 2018,the scale of China's premiums has reached 3.8 trillion yuan,a year-on-year increase of 4%.Among the property insurance,the premium income of three large property companies led by PICC accounts for 64%;in the field of personal insurance,there are only 6 companies with more than 100 billion yuan,and their premium income exceeds 60% of the total.Obviously,China's insurance industry has a character of industry monopoly.Small and medium-sized insurance companies,due to their short set-up time and lack of resources,channels,technology and other resources,are facing with survival difficulties at the beginning of their establishment.In recent years,the rapid rise of mobile Internet technology and its application have brought new opportunities for the development of China's insurance industry.With its distribution in insurance market,network traffic giants,such as Tencent,have become new partners for insurance companies because of their advantages in Internet techonelogy and flow.The object of this provides a new development idea for small and medium-sized insurance companies.However,due to the relatively short period of traffic giant layouting insurance industry,the research on the development strategy of small and medium-sized insurance companies with "flow + insurance" as a research perspective is relatively scarce.This paper mainly uses case study and questionnaire survey methods to summarize the development status of China's small and medium-sized insurance companies,the development status of third-party traffic market,and its development bottlenecks,plus the impact of third-party platform advantages on small and medium-sized insurance companies.By selecting a micro-guarantee platform that is highly compatible with the characteristics of “flow + insurance” as a research case,this paper deeply explores the development status,product strategy,channel construction and marketing strategy of the micro-guarantee platform.At the same time,the consumers are collected by means of questionnaires.The relevant data of the purchase intention of the flow platform gives the suggestions for the development of small and medium-sized insurance companies from the perspective of actual demand of consumers,which makes the conclusions of this paper more practical,and enriches the research results of the development strategies of small and medium-sized insurance companies to a certain extent.Through case analysis and questionnaire survey,the paper finally draws the following conclusions: First,the development of small and medium-sized insurance companies in China is subject to various pressures such as capital,technology,sales channels and operating costs,and the external influence of large insurance companies on the monopoly of insurance market shares,their development is relatively slow.Second,China's mobile Internet consumer market is huge,but there are also hidden concerns about entering the “stock stage”.Third,a large number of traffic giants represented by Alibaba and Tencent have laid out the insurance industry,which is a huge development opportunity for small and medium-sized insurance companies.Fourth,the participation of large-scale well-known traffic giants in the construction of third-party insurance platforms can significantly increase consumers' trust in insurance platforms.Finally,based on the research conclusions,this paper gives the relevant suggestions for the development of small and medium-sized insurance companies.First,the ideas and plans for the development of “flow + insurance” should be established by optimizing the organizational structure of the company,strengthening the cultivation of compound talents and increasing investment in science and technology.Second,adhere to the differentiation strategy,enhance the company's core competitiveness and brand awareness through measures such as product development and pricing differentiation,service differentiation,and market differentiation,thus enhancing the competitive advantages of small and mediumsized insurance companies and traffic giants.Third,optimize marketing strategies,take advantage of the channel advantages of the traffic platform,and adopt strategies such as content marketing,anxiety marketing,and brand marketing to increase market share.