Research On The Development Strategy Of XH Insurance Henan Branch

Since the beginning of the 21st century,China’s economy has developed rapidly,the per capita income and living standard of the Chinese people have risen,the consumption level has been upgraded,and the demand for insurance products has been increasing day by day.In this context,the insurance industry has ushered in a golden opportunity for development.At present,China has become the second largest insurance market in the world after the United States,with a total premium income of 4.49 trillion yuan in 2021.In terms of insurance depth and density,China’s insurance market still has a lot of room for development.However,with the social development and technological innovation,the insurance industry has also encountered development difficulties.If we want to occupy certain advantages in the increasingly competitive insurance market,we must take the lead in completing the strategic layout of the new era and actively embrace the changes to complete the transformation,so as to achieve the long-term healthy development of the enterprise.Therefore,it is especially important to analyze the development strategy of insurance companies in the new era.This paper takes XH Insurance Henan Branch as the research object and elaborates on the representative problems encountered by the current traditional insurance companies in their development,such as aging sales team and single marketing method.It also analyzes the development history and internal and external environment of XH Insurance Henan Branch by using PEST analysis,Porter’s five forces analysis model and SWOT analysis model,and finds out the strengths and weaknesses of XH Insurance Henan Branch in the dimensions of products,services and scale,and points out its shortcomings in the human structure of marketing team,marketing methods and advertising.After understanding the business environment of XH Insurance Henan Branch,we clarify its market positioning and propose an intensive expansion strategy as its development strategy.At the same time,XH Insurance Henan Branch made suggestions for its future development strategy:first,XH Insurance Henan Branch needs to take advantage of its existing products and combine existing products for sales;second,improve the quality and scope of services and apply the latest technological developments in customer service;third,broaden sales channels,especially the establishment of online sales channels;fourth,build a brand image with high visibility and reputation.reputation of the brand image.In addition to this,the company has designed measures to ensure the smooth implementation of the corporate development strategy from the perspectives of optimizing organizational management,strengthening talent training,focusing on customer service and attaching importance to brand culture building,so as to effectively enhance the competitiveness of XH Insurance Henan Branch in the Henan life insurance market and help XH Insurance Henan Branch achieve its strategic goal of stable and healthy development.It also provides reference for other life insurance companies to complete their transformation in the new era,and highlights the practical significance and social value of this study.