Research On Digital Transformation Of Personal Insurance Agents From The Perspective Of 5A Theory

Personal insurance agent channel is one of the important channels of insurance marketing and plays an important role in the insurance intermediary market.Although the traditional offline channels have suffered a certain impact since the COVID-19 epidemic in 2020,online channels such as the Internet have ushered in a period of rapid development.However,Internet insurance is mainly about ecology and traffic.After about three years of development,the traffic dividend has subsided,and the peak period of low-cost customer acquisition and customer acceptance of Internet insurance has passed one after another.Traffic acquisition will change to value acquisition,and the last "one kilometer" is always a big problem.It is very important for customers to catch traffic to reach the task,so the traditional personal insurance agent channel is still an important part of the marketing channel.In recent years,with the younger population of insurance customers and the improvement of education and income,as the aborigines of the Internet,they will take the initiative to search,analyze and compare insurance-related information through digital channels and turn it into corresponding purchase behavior.Therefore,using digital technology to empower individual insurance channels has become the development trend of insurance companies.With the development of digital technology,it entered the era of Marketing 4.0,and the 5A marketing theory of digital customer path came into being.Insurance marketers need to seek innovative strategies to adapt to the new market,so this theory can better explain the ideal path of personal insurance agents to digital transformation.I YunBao is one of the digital exhibition tools developed and designed by Baotong Insurance Agency Company to empower insurance agents to conduct online exhibition.With the help of advanced digital technology system,it empowers insurance agents to acquire customers,transform,train,provide products and provide after-sales service.This paper takes the digital transformation of individual insurance agents as the research object,and takes i Yun Bao as a case.By analyzing the advantages and disadvantages of i Yun Bao and its role from the 5A theoretical model,this paper leads to the core theme of digital transformation of insurance agents.And the competing products in the industry are analyzed from various functions.Among them,case the digital technology of i Yun Bao,has produced good results in the understanding,attraction and inquiry of 5A theory,such as the living water plan to provide sales leads and accurate algorithm models to better meet customer needs;However,there are many problems in the two stages of action and support,including the simplification of policy generation,the lack of communication experience between customers and agents,and the lack of interactive mechanism in after-sales maintenance.Moreover,this paper uses the PAR and BAR index data in the 5A theoretical model to make further analysis from the perspective of agent supply and customer demand in practice.It is found that there are some problems in the action and support stage of the 5A theoretical model,such as the increase of insurance agents’ turnover rate,the low support rate of insurance agents for digital technology,the decrease of customers’ purchase action rate for insurance agents’ channels,and the low support rate of customers for insurance agents,which are consistent with the conclusions of i Yun Bao case analysis.In the analysis of the competing portable warranty App,it is found that the advantage of i Yunbao over portable warranty is that its empowering agent has complete functions before,during and after sales,and its financing strength is strong,but its sales qualification grading,trading and after-sales maintenance functions in training are relatively lacking;The portable warranty is more instrumental,focusing on the improvement of professional skills in sales.The outstanding advantage is the specialty of course content,which helps agents to improve their professional skills from the source.However,its positioning is more like a tool App,especially in trading and after-sales maintenance.Both of them have problems in the last two stages A3 to A4 and A4 to A5 in the 5A theoretical model.Therefore,according to the last two stages of the 5A theoretical model,improvement measures are given:insurance institutions should promote the digital transformation of individual insurance agents,provide customized products and improve customer experience in the action stage,build the whole marketing process in the support stage,and pay attention to maintaining the relationship between agents and customers.This paper provides some reference for the digital transformation of individual insurance agents under the background of high-quality development policy.