Research On The Motivation And Direction Of Life Insurance Agent System Transformation

Since China’s insurance industry resumed life insurance business in the early1980 s,the life insurance industry has been in rapid development.However,since2018,China’s life insurance industry has entered a bottleneck period,with problems such as decreasing premium growth rate and large loss of agents.The outbreak of COVID-19 has further extended the difficult time of the life insurance industry.The Fifth Plenary Session of the 19 th CPC Central Committee proposed that the economic and social development in the period of the 14 th Five-Year Plan should take promoting high-quality development as the theme.Life insurance industry,as an important component of the insurance industry,also needs to achieve high-quality development.As the intermediary channel between companies and customers,agents play an irreplaceable role in the development of life insurance industry.However,due to the problems of weak professional ability,low quality and low retention of agents for a long time,they cannot meet the needs of high-quality transformation of the life insurance industry.Therefore,the construction of high-quality agent team will be the key direction of the transformation of the life insurance industry.This paper takes the life insurance agent system as the research object and the motivation and direction of the system transformation as the research content.Taking the transformation of life insurance industry as the starting point,the future development trend is determined according to various practical constraints faced by the industry,and the agent team is constructed with high quality based on the transformation of life insurance agent system,so as to realize the connotation development and value enhancement of agents and help the transformation of life insurance industry.Firstly,this paper defines life insurance,agent and life insurance agent system by collecting and sorting out a large number of literatures.4Ps marketing theory is introduced to provide theoretical support for the internal logic of life insurance industry transformation and life insurance agent system transformation.Principalagent theory and incentive theory provide theoretical basis for the establishment of agent system.Secondly,this paper discusses the development history and existing problems of the life insurance agent system,and makes a comprehensive analysis of the driving force of the life insurance agent system transformation through the marketing PEST analysis model combined with statistical survey data.Finally,taking the reform of Ping An Life Insurance as an example,this paper proposes the transformation direction of the life insurance agent system from the aspects of organization management,recruitment,training,assessment and salary by analyzing the transformation advantages,effects and performance evaluation of the life insurance agent system.Through the research,this paper believes that the driving force of the transformation of life insurance agent system comes from four aspects: politics,economy,society and technology.The political environment takes policy change as the core of the study,including three parts: clear industry positioning,opportunities of health and wellness policies,and stricter regulation of agents.The economic environment includes four parts: sustained growth of GDP,increase of per capita disposable income,rise of flexible employment and upgrade of consumer demand.The main point of view of social environment is the disappearance of demographic dividend and the transformation of values.The technical environment is mainly reflected in the service upgrading brought by the Internet and the coexistence of opportunities and challenges for life insurance industry enabled by technology.This paper proposes that the transformation direction of the life insurance agent system should include the following points:first,implement hierarchical and fine management of the agent in the organizational management;Secondly,the entry threshold should be raised by increasing the qualification examination,limiting the mandatory age education standard and raising the difficulty of screening.Third,improve the training quality from the training content,teachers,training methods;Fourth,establish a diversified assessment system covering education background,age,performance,attendance,etc.,to form scientific and unified assessment standards;Fifth,in terms of salary system,increase the types and amounts of allowances and bonuses,adjust the proportion of commission payment and extend the period of commission payment,set fixed salaries and improve welfare treatment.The main innovation point of this paper is that 4Ps marketing theory is used to provide theoretical basis for the internal logic of life insurance industry transformation and life insurance agent system transformation,and through the marketing PEST analysis model for a specific analysis of the power of life insurance agent system transformation,finally combined with Ping An life insurance reform case analysis,put forward the direction of life insurance agent system transformation.