Yinbao new deal the birth of value to the Bank of insurance companies

Editor's Note: "seldom has a product like Apple, let people queued all night to buy, this is the charm of product innovation and precision positioning. "In the view of part of the insurer, to provide what kind of insurance products for commercial banks, determining their value for commercial banks. China's insurance industry in other countries one-third of the time, distance covered the last 20 years of expansion. Today, China's insurance industry is at a crossroads, consider where to start from the extensive mode of operation to the fine direction of change. Recommended reading insurance weekly: variable amount annuity pilot started Beijing Shanghai five city first wins insurance enterprises violations promotions penalty 500,000 insurance ring "Wang yawei" emerge surface exaggerated income does not to risk silver insurance disputes constantly should first to family "pillar" Shang foot insurance regardless of from lost insurance is zehui Shi Qiming jointly immortal see disk build boutique lecture in General of Bank dot sales barges paid products, is venture early the large insurance commercial of common path. An early pioneer of reversing this structure, began "fans pay no money" fate, heavily research customers practical needs of banks and insurance companies to meet the "rich" and willingness of end customers in the Bank. Move from the barge to pay period pay "transformation of banking and insurance" policy has been adopted by more and more insurance. But consume huge amounts of manpower research customers practical needs of insurance companies are banks and insurance companies, few and far between. This exclusive survey conducted, the man insurers "understand the realities of insurance consumer demand", "is the same as for their products to know your customer", research reports and excerpts of some insurance companies, sharing their heavily to create research results. Reporter fanghua 2008 late of a a days, in the Tak joint life insurance limited (following short "in the Tak joint") then new took office of, Chief Executive of Bai Sian Mr, announced has a item important decided: "Silver insurance products to from to barges paid mainly steering with a view to paid mainly, from to investment mainly steering focus on protection, in and in the funded Bank partners of cooperation Foundation Shang, gradually strengthening and foreign bank of cooperation. "" Never was so sold. "In the" Bank main selling fans paying "era, Tak opens up in this" unprecedented "transformation of banks and insurance companies. In the mainland China market 10 years later, this foreign insurance enterprises started first to segment customer banks and insurance companies, heavily research subdivision of Bank and insurance company customer demand, product suited to the repositioning. Two years, "new policies of banks and insurance companies" lead to industry-wide banking and insurance business growth "slowdown". But the data show that Tak on banks and insurance companies to pay the premiums do not drop by the anti-rise: a quarter of the year, business of banks and insurance companies to pay the standard new year premiums up 10%, and payment of a premium than per cent in 2008 jumped to 88% in the first quarter of 2011. However, foreign shareholders, global insurance giants--more value of the Allianz Group, is the mainland China market business banks and insurance companies profit contribution increases: since 2008 after the banking and insurance business, channel banks and insurance companies profit contribution significantly; first quarter of 2011, channel banks and insurance companies new business value than 55%. In fact, the move from the barge to pay period pay "banks and insurance companies in transition", not just Allianz. But consume huge amounts of human research customer requirements of banks and insurance companies and insurance companies, but rarely seen. "Rarely has a product like Apple, let people queued all night to buy, this is the charm of product innovation and precision positioning. Similarly, to kind of banking and insurance products, determine the value of our commercial banks. "Tak said Deputy General Manager and Chief channel officer Zhang haiying. What satisfied "Fu generation" at the end of 2010, banking and insurance premiums already accounts for half of the life insurance industry as a whole, deserved to become "first channel", the traditional core of individual channels relegated to a lesser extent. Data shows that following the CBRC 2010 "90th" after the promulgation of new guidelines on the regulation of a clear structure of the banking and insurance business oriented, wholesale banks and insurance companies to pay business entered into significant downlink channels. Premium total more than 60% also makes channel banks and insurance companies in the Tak of the "first channel". With most of the similar, earlier dominated by single premiums, Bank common outlets for mass consumer sales, low profit margins, it is difficult for Allianz Group "sustainable profitable growth," the development goals in China. In 2008, the ideas start initiation of transformation. "But selling after the transition? We have no choice, only taking the path of differentiation. "Zhang haiying told reporters that early marketers use" reason "habit of sales and the market has not many products available to consumers, but businesses as banks and insurance companies" latecomers "buyer's market has changed, many people already have the first policy, are increasingly difficult to sales, you must try to breakdown of the banking and insurance markets. In 2008, Tak on heavily invested in market research, one named "focus group interviews" market research, not only for the subdivision of bank customers, also including many Bank Finance Manager. "Under the wave of targeted research, we in 2009 for the first time a clear position on foreign investment in banking, investment banking private banking " high net worth crowds " to launch exclusive overall insurance solutions, minimum annual payment of $ 200,000, but did not expect the actual turnover higher, reaching $ 360,000. "Introduction to Zhang haiying said. These so-called "high net worth crowds", is the largest insurer preferred "rich" high-end groups, investment experience and investment channels for many, become a common feature. "Because of investment channels for many, they more precisely value the supportability of insurance for themselves and their families. "Zhang haiying, launched the overall insurance solutions to them, the main" family protection ", such as pensions, child education, covering three generations gold and rehabilitation schemes and launched high amounts of aviation accidents insurance, insurance of up to 8 million ~1000 million. For their special needs, Tak on even in the introduction include "fracture in the elderly insurance", "accidental burns in the elderly insurance" accident, hospitalization subsidies and protection. Market segmentation strategy of banks and insurance companies, Tak on two exclusive high-end products for the realization of standard years of new premiums in the first quarter, overall business banks and insurance companies near 50%. Next, nacora is planned for Centre for foreign investment in banking, investment banking wealth management customers better, larger quantitative investigation, involving more than 10 cities, covering finance and investment for that target customer acquisitionUsed, on the banks and the choice of account manager, attitude to risk and product. "The fact that such research has been the norm. "Zhang haiying said all efforts were aimed at selling the right products to the most suitable people. "Menu-training" introduced in China was informed that, based on liquidity contraction and a moderately tight monetary policy, importance of intermediate business of commercial banks for income, higher insurance sales enthusiasm remains high. But at the same time, banks selling insurance products, still not formed a differentiated form. Many banking and insurance products, essential to maintain a "sell a policy for many years" the traditional face, essentially nothing more than "deposit + protection" or "fixed deposit by installments + protect" form. "From a competition point of view, of no difference if the seller provides products, it is clear that is the buyer's strong, consumers gain the initiative, which determined the banks or insurance companies must spend to sell insurance. "Bank manager who asked not to be named, told reporters that, sales, undoubtedly become of insurance company" first priority ", it is difficult to have more energy to consumers the real needs of research and product development. However, the "new policies of banks and insurance companies" issued, cancel the insurance company "resident" sales qualifications, how to sell insurance products, and sales front-end give consumers the greatest degree of right, is testing a new "Silver link". AIA (China) told reporters that since signed with the industrial and commercial bank "always total" cooperation agreements, many of them for industrial and commercial bank network customized training plans, but given the human enough, at present, the plan has been "a long queue queues". "Manager for foreign banks, from Germany Institute of banking and insurance introduce a banking and insurance business training materials can be customized according to the Bank's " menu training ", including product and compliance, business and social etiquette, and emotional sales skills. "Zhang haiying, for example, HSBC-oriented training" menu ", including" young eagles and Eagle, goshawk, sophisticated fertility Eagle "four sets of courses. Under the new guidelines on the operational supervision of banks and insurance companies, insurance companies and commercial banks to establish long-term and stable cooperation relations, pay, protection class product key sales period. The industry expected, this relationship explicit, helps the parties in financing training, product development manager, IT platform-building aspects, long-term, market segments, rather than a mere formality. "Able to maintain stable cooperation relations still end depends on the company to provide products, whether for banks and their customers to create real value. "Zhang haiying believes that two private banks recently in domestic banking initiative to call them, hoping for their high-end customers need high security products. The industry expected, under the new policy banks and insurance companies, banks and insurance companies both in the past "many to many" extensive cooperative relations under change. An insurance company on a number of banks, or the status of a bank on a number of insurance companies (such as industrial and commercial bank has more than 30 more than insurance partners), the level of cooperation is not high. Or in a certain sense, there is no a insurance products, sustained and vigorous promotion to stimulate industrial and commercial bank of will and enthusiasm. Foreign banks "learned similar to" this was the international financial crisis, Germany Allianz Group became the world's largest insurance group, that only to Tak on actively explore foreign banks in China provides a historic opportunity. "Negotiate with HSBC, we found that foreign banks and their customers more recognized brand of Allianz, which first laid our advantage in the bank market. "Zhang haiying, both in terms of compliance, docking IT platform, after-sales service requirements are very close, easier communication, thereby established during in the break-in is relatively stable, more in-depth cooperation. Different from Chinese banks, foreign banks as a product vendor, for the selection of insurance products, workflow is very long, sometimes even through dozens of executives, responsible person signature, parties may agree in network sales. For most insurers, was undoubtedly a huge obstacle. Reporters found that several foreign banks entering the mainland market has for many years, outlets selling insurance products, mostly the products of foreign insurance companies, products rarely seen in domestic insurance giants. Financial manager told reporters at a foreign bank, large insurance companies in the Mainland on this attitude is not positive, takes time to think on the one hand on the run-in, on the other hand believe that the consumer is not their main customer groups. "However, even in HSBC, Standard Chartered, Bank of East Asia, Citigroup, we still only have developed a small number of customers, space remains very large. "Zhang haiying said, while foreign banks in the Mainland of China less outlets, but based on higher levels of matching both brands, resources, products, if the dig and intensive cultivation, will also bring an invaluable market. According to Tak on joint strategic planning, after the change of banks and insurance companies, foreign banks in addition to the established "exclusive strategy", it is to further develop the Chinese Bank's private banking and financial centre of high-end clients. "On the development of Chinese banks, we are more concerned about after cooperation rooted in what city, operating in which networks, this concerns our market segmentation strategy, while continuing to promote the normalizing of market research, to provide bank customers with more targeted insurance solutions. "Zhang haiying said research is to learn real bank customers demand, so to introduce precise positioning of banking and insurance products, which ultimately determine the value of insurers for commercial banks. This survey: do you understand the real needs of insurance consumers? Notes of a Planner: sale! Sales! Nearly all major insurance city to make every effort to, bringing sales to undisputed primacy. At the same time, many insurers are also advertised-firmly follow "customer demand-oriented" business philosophy. Then, in the different historical period, existing customers and prospects of the insurance company's insurance consumers, what are their real needs? Whether insurers to make adjustments and changes in the product? Reporters in a large number of interviews was informed that the reality of the current reality of the insurance consumer demand and product supply, there is still a gap, and funded, foreign insurers for insurance consumers the real needs of the market research, there are differences in the concepts and practices. Interview 8 Chinese life insurance company and 8 foreign life insurance companies, most of Chinese-funded insurance companies admitted to reporters, seldom in recent yearsSimilar research, largely through perceived and gathering of marketers in the development process, from bottom to channel business Department, and passed to the product research and Development Department in order to make product decisions. By contrast, foreign insurance companies prefer to invest financial, human, time, research the real needs of consumers, and given the considerable investment and attention. This focus on the consumer demand investigation of market behavior, towards a fine change of the mode of the development of China's insurance industry, with important implications. Limited to the scope of inquiry, investigation means, investigation time, only excerpts of life insurance companies that are part of the following findings. Told of welcomed more insurance companies to provide results and progress in this area, we will continue to give concern.