2022 is almost halfway through, and my country's life insurance industry is still undergoing a difficult transition.The data shows that up to now, the new business value of major insurance companies has fallen to the level of 2015-2016, and the agent team has also dropped to the level of 2014-2016.
Since 2017, the short-term and medium-term surviving products have been standardized, and the development of universal insurance has been pressed the pause button, and the development of the life insurance industry has begun a new cycle.All life insurance companies have adjusted product structure, promoted channel reform, built high-quality agent teams around core human resources and high-performance human resources, and at the same time strengthened technological empowerment, carried out digital transformation, and actively deployed the health care industry.
However, many people in the industry are still confused:
"How long does the life insurance reform cycle take, and when will the results be seen? In this process from quantitative change to qualitative change, how to define qualitative change?"
"It has formed a consensus in the industry to improve the quality of agents through excellent growth and education, and companies are also exploring. What will the development direction of agents be in the end, and what level should the average income of agents reach?"
"How to innovate the sales method of bancassurance channels, can you change the model of relying on high handling fees to drive the development of bancassurance business, and how to increase the value of channels?"
In fact, the above-mentioned "confusion" is also the main problem that the entire industry is currently seeking.Everyone is trying to find the crux and find a way to "break the situation".Correspondingly, the industry is also observing how overseas market entities with a certain scale get out of the predicament when they encounter similar setbacks, in order to provide valuable guidance and reference for the "road" that my country will take next.
Some people believe that it takes about 10 years for countries to transform from extensive to specialization. The transformation will not be accomplished overnight, but a long road that requires patience and deep cultivation.
Especially since the outbreak of the epidemic, the insurance industry has generally been hit hard, and it has become increasingly difficult for agents to develop the business. Changes in customer demand have led to cautious insurance consumption, and new policy premiums have continued to decline.This also increases the number of variables in the transformation of the industry.
The reform of life insurance, especially the transformation of individual insurance channels, remains to be seen.With the increasing downward trend of interest rates, the insurance industry will face a more complex and volatile external environment in the next few years.Therefore, the life insurance reform must continue to climb the slopes and overcome difficulties.
