文档介绍：THE BOSTON CONSULTING GROUP
Building Professionalism
THE NEXT STEP FOR LIFE INSURANCE IN CHINA
BCG A SENIOR MANAGEMENT PERSPECTIVE
PREFACE
With a population of billion people and a steadily developing global economy, China has the
potential to e the largest life insurance market in the world. This possibility has been clearly
recognized both by local players and by powerful international insurers, many of which have set up
joint ventures with Chinese insurers or acquired minority equity stakes.
The path to ess will not be easy for either domestic or foreign insurers. The Chinese government
has strict controls on the participation of foreign players and on the type of investments that any
insurer is able to make. Chinese consumers, long subjected to a generally poor level of service from
many local insurers, are increasingly wary, demanding and selective. The improvement of the customer
experience is shaping up as a key strategic element in the battle for market share.
While government regulations are currently easing, rendering the Chinese market more and more
attractive, a far greater degree of liberalization must evolve before China can begin pare itself
to the mature life insurance markets of Western Europe, the United States, and some other parts of
the world. Fortunately, the government recognizes the importance of the industry’s growth to its
overall program of economic development.
This report, the product of an extensive research effort by The Boston Consulting Group involving
interviews with myriad local and multinational players, takes an in-depth look at the life insurance
industry in China. It focuses on the patterns of its evolution and on the hurdles that both domestic
and foreign players currently face. Particular emphasis is placed on the steps that Chinese life insurers
must take in order to enhance their overall level of professionalism, and thus, their ability pete.
We trust the paper will prove eng