Research On Marketing Strategy Of Individual Pension Insurance Products Of Jianan Life Insurance Qinghai Branch

In 2022,China will enter a deeply aging society.The demand for old-age care is strong but the accumulation of funds is small.The severe challenge of "getting old before getting rich" comes on the surface.At present,our country has formed the pension insurance system including three pillars.The first pillar is the basic pension insurance by the state,which only plays a basic role;The second pillar refers to the enterprise annuity(occupational annuity)paid by enterprises and individuals,which has low coverage and low treatment level.The third pillar is the "personal pension system" in which the responsibility subject is the individual,which can be realized through the three financial means of banks,funds and insurance.Banks and funds have just started,while insurance is relatively mature,and individual pension annuity insurance belongs to this category.After ten years of development in Qinghai Province,the market share of Jian ’an Life Insurance Qinghai Branch will take up 8%in 2021,ranking the fourth among the eight life insurance companies,while the top three major competitors China Life Insurance,Ping An of China and New China Insurance will take up 78% of the total market share.In addition,in the post-epidemic era,consumers’ expectations for future income are decreasing and young customers’ diversified demands are increasing.Although the pension annuity business of Jian ’an Life Insurance is at an above average level,its performance is difficult to exceed due to marketing bottleneck.Therefore,it is urgent to improve its business marketing ability and match and develop appropriate marketing strategies.Based on the above background,the research objective of this paper is to provide a set of effective marketing strategies for individual pension annuity insurance products for Qinghai Branch of Jian ’an Life Insurance,so as to improve the product marketing ability.First of all,the specific business content of the company is introduced,and then the marketing status of the product is investigated on the marketing theory of standard 7Ps,and the existing problems in the marketing process are summarized through literature survey and interview.Secondly,the enterprise’s individual pension annuity insurance product business from the macro environment,industry environment,competitive environment,internal environment and other aspects of comprehensive analysis,and use SWOT matrix to analyze the enterprise’s opportunities,threats,strengths and weaknesses.Then,through the use of STP marketing theory and 7Ps marketing theory to develop a series of marketing strategies according to local conditions,including product,price,channel,promotion,personnel,service,tangible display,etc.Finally,the implementation steps and safeguard measures of the marketing strategy are formulated to fully prepare for the effective implementation of the marketing strategy.The marketing strategy formulated in this study has played a positive role in promoting the business development of individual pension annuity insurance products of Qinghai Branch of Jian ’an Life Insurance and the improvement of the company’s marketing ability.At the same time,it can also expand the brand influence while seizing market share.