| In recent years,the Chinese insurance industry faces stricter regulatory policies.The CBIRC emphasizes that the insurance industry should stick to its creed,which is to provide security for the people.The increase of annual premium income remains at low level and the number of insurance agents decreases over time.It is apparent that the homogeneous completion is inevitable and the transformation of the industry is under multiple pressure.The Chinese insurance industry is at its crossroad,the insurers of all types are pursuing its own ways of transformation.The T Group is currently one of China’s most famous and largest insurance and financial services institutions.After its 20-plus years of develepoment,the T Group now focuses on three main business sectors:insurance,asset management,and health&elderly care.The insurance sector is T Life Insurance oriented,along with multiple other insurances like health insurance,property insurance,etc.The asset management sector contains insurance asset management,corporate and occupational pension management,etc.The health&elderly care sector aims to build a health ecosystem through approaches on medical care,elderly care,rehabilitation,hospice care,etc.Throughout the implementation of the diversification strategy,the T group has achieved success,at the same time,learned lessons.The author of the thesis combines corporate strategy theories especially diversification strategy theories with the T Group’s actual situation and the scenarios it is in,and provides optimization solutions for the T Group’s diversification strategy after precise analysis and demonstration.The analysis and solution will be realistic reference to other insurers especially those large and comprehensive insurers’ strategy.Firstly,the thesis mainly studies theories on the diversification strategy.The thesis also reviews the latest researches on diversification strategy especially those for insurers by academic community worldwide,and four major types of strategic analysis tools are used by the author:the PEST model,the Porter’s Five-Force analytical model,the SWOT analytical method,the BCG Matrix and the Value Chain analysis.Secondly,the thesis particularly reviews the progress of T Group’s diversification strategy,makes performance analysis on T Group’s diversification strategy and concludes the achievements and problems the strategy brings.It is crucial to optimizing the T Group’s diversification strategy,for the problems such as the lack of synergy does exist.Thirdly,the thesis further clarifies the T Group’s mission,vision and objectives after thourough consideration of its internal and external environment.The thesis also provides optimization suggestions on the T Group’s diversification strategy,specifically,to create three closed-loops of longevity,wealth and health through the integrated path of "becoming the leading insurer and service provider".The thesis suggests that the T Group should optimize its business blueprint,stick to its principal business of insurance,enhance synergy on products and customers,and make its three major business sectors develop synergistically.Finally,the thesis formulates the key measures of implementation from the perspective of focusing on building the health ecosystem.The thesis also comes up with the supporting measures from the perspectives of the corporate culture,finance,etc. |
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