| In recent years,the insurance market in Shanghai has developed rapidly,and all kinds of capital have poured into the insurance industry.On the other hand,the market competition is fierce,and many small and medium-sized insurance companies have poor performance.AVIVA-COFCO Life Insurance Company Limited is a national insurance company,headquartered in Beijing,currently has branches in more than 60 cities in 14 provinces,ranking top 10 among foreign insurance companies.For AVIVA-COFCO Life Insurance Broker business,we were established very late,and won the preparatory qualification in 2015,2016.Only after obtaining the business license can the insurance business be formally carried out.As the most important sales intermediary Department of AVIVA-COFCO Life Insurance Shanghai Branch,facing such problems as late entry time,numerous competitors,the company's products and sales costs are not dominant,the team members' professional skills are insufficient,and the channel business development is slow.By studying the choice,implementation and safeguard measures of the competition strategy of China and the UK life insurance intermediary sector,this paper provides a reference for the study of the competition strategy of the intermediary sector of small and medium-sized insurance companies in Shanghai insurance market.Based on the theory of competitive strategy,this paper makes a systematic analysis of the internal and external environment,strengths and weaknesses of life intermediary departments in China and Britain by using case study,questionnaire survey,PEST analysis,Porter's Five-Force Competition Model,EFE matrix model and value chain analysis tools.At present,the external opportunities of China-UK life insurance intermediary sector are as follows: Shanghai insurance intermediary market still has great growth potential,its development speed is significantly higher than GDP growth,the aging of population in social structure will continue,which stimulates the further growth of insurance demand;the rising of intermediary companies makes more excellent personal insurance agents from.In the past,large insurance companies such as AIA,Menulife,Metlife,PingAn and Taiping have left to join the insurance intermediary platform to enhance the overall professionalism and trust in this field.The Shanghai government attaches great importance to the establishment of the local financial system,especially to the attention and support of the insurance intermediary field.Threats are: the competition in intermediary market is very fierce,only I know that 20 insurance companies have set up intermediary departments,and there are a steady stream of new companies joining in the competition in the later period;product homogeneity is serious,product innovation ability is weak,service items are basically the same,lack of high valueadded services to customers.Lack of management guidance for insurance agency companies,they still stay in the sales of products and daily policy administrative services,unable to form their own unique core competitiveness,the overall development of intermediaries is still extensive,competition leads to the reduction of product rates of insurance companies,into the low-cost line,in contrast to the sales of insurance companies.With the increase of the cost,insured profits are becoming thinner and thinner;and the intermediary departments of large companies rely on their economies of scale,the competition pressure of intermediary departments of small and mediumsized insurance companies is growing;internal advantages: strong shareholders of both sides of the company,foreign shareholders AVIVA has a 323-year history,and Chinese shareholders are ranked in the rankings of Chinese grain and oil enterprises.Firstly,there are 11 listed companies in 9 major sectors.China and Britain are the first foreign insurance companies to start intermediary business in China.They have a strong foundation.They also have a good reputation in the industry.The wind control system is perfect.The intermediary has developed steadily so far.The members of the team are stable and united.Disadvantage: The company has insufficient competitiveness in products,higher product pricing than competitors in the same industry,and the income of savings products is lower than the main competitors;the company has stricter verification and more complex process,and we have a certain gap in the process of insurance policy underwriting;the team members are younger,to deal with complex and difficult problems.There are deficiencies in both professionalism and psychological endurance.Based on SWOT analysis,this study concludes that the intermediary Department of China Life Insurance Shanghai Branch should adopt differentiation strategy,and further puts forward specific implementation steps of differentiation strategy of intermediary Department of China Life Insurance Shanghai Branch from product development,marketing,customer service,team building and characteristic services,as well as ensuring the implementation of the strategy.Specific safeguards include developing specialized products of intermediary channels to target specific customer groups,providing high value-added services and counseling in addition to handling fees for key cooperation,and providing different customer service services and activities for intermediary channels.The innovation of this paper is as follows: with the increasing market players,the intermediary Department of China Life Insurance Shanghai Branch is no longer suitable for the layout and development of traditional insurance companies,but should adapt to local conditions and give full play to the characteristics of Shanghai and China.The differentiation strategy will be an effective way for the long-term and steady development of intermediary Department of China Life Insurance Shanghai Branch.Route.Existing problems in this paper: the proposed strategic implementation measures and safeguards have not formulated specific calendar for the time of sequential completion.In order to calculate the cost to clearly put into operation,whether to achieve the desired results needs to be tested in practice. |
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