日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Make me your Homepage
left corner left corner
China Daily Website

China worth risk for foreign insurers

Updated: 2013-11-20 17:13
By TONY COMPTON ( chinadaily.com.cn)

E-commerce transactions reached 461.2 billion yuan ($75 billion; 56 million euros) in the second quarter of 2013, a year-on-year increase of 84.3 percent. And soon the Chinese mobile telecoms industry will leapfrog the West and roll out 4G, satisfying Chinese consumers’ thirst for digitization.

How can foreign insurers take advantage of this phenomenon?

Among the foreign entrants to the motor market, eight insurance companies have compulsory liability underwriting licenses, and many life insurance joint ventures have been in play for several years although they have less than 5 percent market share in total.

But these foreign players are sitting on a competitive advantage. Because their operations are small, they can develop distribution channels to bypass the traditional market dominators and get straight to the consumer first.

They can do this by embracing the digital opportunity to create innovative online distribution models, with competitive benefits that attract and lock-in buyers.

Foreign insurers also have a huge advantage over domestic ones in risk selection ability. For years, they have been practicing risk selection and sophisticated pricing with many varied and correlated risk factors. With the adoption of the online distribution model, advanced risk selection will be easy, as the quote and buy functions can be configured accordingly. They can collect the necessary information, take on better customers and avoid poor ones.

Foreign insurers, however, may not be able to benefit fully at present from individual customer risk-based pricing in some areas, such as motor and the more-regulated life products.

Competing on service

Foreign insurers can also compete well on service, an area where there is a substantial gap between supply and demand.

The domestic insurers are not complacent. In the top echelon of the industry at least, they are looking to become more customer-centric. Once they move, they will move fast, but with their traditional distribution and business models, it will take them a while to adapt.

While they do, there is a window of opportunity for foreign insurers to expand their business and online models, and quickly roll out superior service models to attract customers. And by being largely online, they would also have a significant cost advantage, which could lead to lower product prices and attract more customers.

If we turn to the dynamics of the China’s economy, growth in the tier 1 and 2 cities will be modest, and they will become strong insurance retention and switching markets, playing to online models.

In the next five to 10 years, China’s domestic development will be driven increasingly by the lower-tier cities, and the large domestic insurers will find it difficult to quickly deploy their rigid distribution models in these growth areas.

For example, recruiting and retaining skilled agents is one of the biggest problems today for the industry, and it’s hard to imagine that staffing tier-3 and 4 regions will be any easier.

Again, the savvy insurer should build up alternative or open new channels of distribution in these emerging provincial economies. But they will need their own additional provincial licenses, partner with provincial insurers, or move substantially online.

 
 
...
主站蜘蛛池模板: 日韩在线免费视频 | 丁香婷婷激情五月 | 国产精品成人一区二区 | 亚洲一区在线视频观看 | 精品久久久久久久久久久久久 | 免费看av大片 | 成人公开免费视频 | 婷婷激情视频 | av在线天堂 | 久久亚洲一区二区三区四区 | 日本黄色三级视频 | 成人黄色a | 亚洲人天堂 | 精品不卡一区二区 | 不卡视频一区二区三区 | 一级色视频 | 黄色a级大片 | 校园春色亚洲色图 | 国产女主播喷水视频在线观看 | 国产区精品视频 | 国产精品视频免费在线观看 | 成人午夜| 欧美日韩在线视频观看 | 久久久免费| 日本精品久久 | 国产911| 久久不色 | 国产成人在线免费观看视频 | 国产精品自拍网站 | 日韩精品一区二区视频 | 免费一二三区 | 午夜av一区| 综合一区二区三区 | 久久久在线免费观看 | 亚洲欧洲精品视频 | 亚洲欧美制服 | 欧美第一色 | 日本一级理论片在线大全 | 欧美成人一区二区三区 | 久久影片 | 黄色片在线免费观看 |