Research On The Marketing Strategy Of Bancassurance Business Of Bank Of China Samsung Life Insurance Henan Branch

With the sustained high-speed economic growth,China’s insurance industry has been continuously developed in the process of opening wider to the outside world and deepening reform,showing the new characteristics of marketization,specialization,internationalization and standardization.At the same time,with the increase of population size,the improvement of education level,and the acceleration of urbanization,especially the rapid development of financial market,which leads to the increase of people’s investment demand,the aging of population and the reform of social welfare system,people’s insurance awareness and insurance demand are constantly upgraded,and the insurance industry in China will continue to grow rapidly.Since China’s insurance industry resumed its business in 1979,the total amount of insurance resources has increased rapidly for more than 40 years,especially in the last decade.However,the competition in the bancassurance industry has become increasingly fierce.Perfecting the marketing strategy of bancassurance business of BOC Samsung Life Henan Branch will help it stand out in the market and gain a larger market share.In this paper,the marketing strategy of bancassurance business is defined as all kinds of social activities carried out by life insurance companies on the premise of customers’ demands,in order to penetrate a series of marketing combinations of bancassurance products into the market.Based on the analysis of the internal environment of BOC Samsung Life Henan Branch,such as the overall operating situation,the current existing products and marketing status,combined with the analysis of the external environment,such as the development of bancassurance industry and the demand of users for products,this paper made a detailed SWOT analysis of the company by using the theoretical knowledge of marketing,the combination of qualitative and quantitative methods,and combining with my own work practice,and made clear the company’s strengths,weaknesses,opportunities and threats.It was pointed out that the current normal business platform in the company’s marketing was fluctuating greatly.The market segment of BOC Samsung Life Henan Branch is updated and clarified.Combining with the 4P theory,the 4P strategy suitable for the bancassurance business of BOC Samsung Life Henan Branch is formulated,and safeguard measures are put forward to ensure the implementation of the bancassurance business marketing strategy of BOC Samsung Life Henan Branch.