Insurance Company Documentary Innovation Program

Insurance company service innovation is multi-faceted, multi-level. It includes not only the innovation of service concept, the innovation of service means, but also the innovation of the system.

(I) the innovation of insurance service concept

The core of the service concept lies in the fact that the development strategy of the insurance company should be shifted from business-centered to customer-centered. All activities of the company, including the design of insurance products, insurance marketing, insurance claims, etc., are based on the principle of customer first.

The design of insurance products that emphasize the concept of service should reflect the needs and preferences of the customers and respond to changes in the times. Consumer needs arise from both the subjective preferences of consumers and the objective state of the environment in which they live. Different consumers' preferences as independent individuals vary greatly due to multiple variables such as age, gender, ethnicity, cultural level, upbringing, and the humanistic environment in which they live. As economic conditions and social culture change, so do consumer needs. For example, with the deepening of China's market economy, the reform of the social security system, changes in family structure, and the phenomenon of an aging population, new risks and new insurance needs will continue to emerge. At the present stage, the insurance varieties that people urgently need include elderly care insurance, medical accident insurance, special disease insurance, lender's credit insurance, and insurance for special functions of human organs. These types of insurance, in the current operation of China's insurance industry is still almost a blank, although individual types of insurance has been in some insurance companies in the trial, but from the market requirements are still far from.

The insurance marketing focusing on the concept of service should be changed from the traditional transactional marketing to relationship marketing. Transactional marketing emphasizes the acquisition of sales orders, ignoring the period after the sale. Relationship marketing emphasizes the entire life cycle of a product or service, where the buyer and seller are partners. Relationship marketing is a long-term agreement between buyers and sellers to minimize conflict and promote mutual interest. Through the partnership, the buyer should receive products and services with quality assurance and the supplier is responsible for securing the buyer's order. This partnership ensures that both buyers and sellers benefit in the long run at a mutually satisfactory price. The marketing philosophy of applied relationship marketing lies in increasing customer loyalty. Having loyal consumers is the key to maintaining the long-term success of a business. In a highly competitive environment, keeping existing customers brings more significant benefits than developing new ones. Bain & Company surveyed many industries and found that a 5% increase in efforts to maintain loyal consumers can result in a 25%-100% increase in business revenues. This is especially true for companies that offer complex products or services. The economic value created by efforts to maintain loyal customers is mainly reflected in the following aspects: the effectiveness of the enterprise to maintain loyal customers directly affects the development of new sources of customers; over time, loyal customers will gradually increase the size and number of their consumption, for example, a person who bought an insurance company's automobile insurance, may go to the company to buy homeowner's insurance or other types of insurance; long-term customers to provide It is cheaper to serve long-term customers, who are familiar with the company's practices and rules, and therefore use fewer resources. Loyal consumers are the best "talking heads". According to a survey of the western business community, customers from one enterprise to another, 70% of the reason is the quality of service problems, business personnel slow a customer, will affect 40 potential customers, and a satisfied customer will bring 8 potential business, which, at least, will have a transaction. In the highly competitive insurance market, the service to retain old customers, attract new customers is the best policy.

Focusing on the service concept of claims requires fast, accurate, timely and considerate, and not shy away from compensation, not indiscriminate compensation. The basic function of insurance is economic compensation, compensation in the form of claims. Claims service makes the enterprise which suffers loss to survive, and makes the family which suffers misfortune to rebuild happiness. For the policyholders, they are most concerned about whether they can get compensation in case of accidents and whether the compensation is timely and accurate. The phenomenon of "two faces for insurance and claims" is common in the domestic insurance market, which is the main reason for policyholders' dissatisfaction with the insurance industry. According to the insurance company staff, the claims process includes reporting, registration, investigation, evidence collection, provision of essential documents, do the file, review, approval, etc. Only 2-3 items need to be paid by the insurance company. Only 2-3 of them require direct participation of policyholders. However, from the beginning of the registration of the case, the insurance company does not necessarily immediately enter the investigation and evidence collection stage, the need to centralize the time to carry out arrangements, which inadvertently delayed the process of claims. When the investigation and evidence collection come back, whether to make a file immediately, whether to review the file immediately after making a file, whether to approve the review immediately after the completion of the delay may occur during the period of time, the accumulation of time, the formation of the community reflected the more centralized insurance claims are slow and troublesome complaints. If the insurance companies really set up a customer-centered service concept, these phenomena should be gradually eradicated.

In addition to this, the implementation of the service concept is also reflected in the field of insurance extended services. Insurance extension service is a kind of extension of ordinary insurance service, is the insurance company to use their own resources advantage, expand to provide customers with additional services beyond the insurance liability, such as risk consulting, risk management, disaster prevention and loss prevention, etc.. For example, in the case of insurance services related to credit consumption, insurance companies can utilize their professional and talent advantages to provide customers with some extended services related to investment consulting, financial consulting and information exchange. Insurance extension services related to pension and medical insurance include regular free medical check-ups, health counseling and additional rehabilitation care. Some large insurance companies in Europe and the United States even have their own emergency hospitals and rehabilitation centers, where customers can enjoy preferential services, and those who have taken out large amounts of insurance can also enjoy free convalescence. Insurance extension services have become the main means of competition among foreign insurance companies.

(ii) the innovation of insurance service means

Since China's insurance business has just started, compared with the century-long history of foreign insurance industry, we still have a big gap. This requires us, on the one hand, to give full play to the advantage of latecomers and learn from the advanced experience of foreign insurance companies; on the other hand, we should create our own service characteristics by taking into account the specific stage of development and social and cultural environment.

Through the introduction of advanced service tools from foreign insurance companies, and by borrowing stones from other mountains, domestic insurance services have made great strides. 1992 saw the entry of AIA into China's insurance market and its introduction of the individual marketer system, which was followed by domestic insurance companies, and opened up the way for the development of the life insurance industry to flourish. Soon after AIA launched overseas premium payment, overseas claims settlement, US international support services, computerized tailor-made policy services, nationwide year-round 24-hour toll-free inquiry hotline, online services, telephone auto-attendant inquiry services and one-stop services, other domestic insurers quickly followed suit.

Of course, foreign insurers themselves are constantly innovating, with new service technologies emerging all the time. For example, a foreign life insurance policy is an IC card-sized swipe card, a small card memory of the policy's full insurance terms, payment status, cash value, etc., which can be used for claims, payment, borrowing, and even credit guarantees, requesting emergency assistance, etc., in any country and region of the Internet general. And our insurance policies are still in the form of documents, which brings a lot of inconvenience to policyholders in carrying, receiving and storing. And paperless is the inevitable trend in the future. In addition, most domestic insurance companies have set up their own websites, trying to allow customers to take out insurance and make inquiries directly through the Internet. However, compared with the mature e-commerce in foreign countries, we are still in the primary stage. For example, in order to enhance its competitiveness, Nationwide Insurance Company of the United States decided to integrate the Internet with other channels through which the company communicates with its customers, such as telephone service centers and exclusive agents. The centralization of customer information allows sales agents to focus more on individual customer requirements; at the same time, customers are equipped with the ability to use the Internet to quickly obtain quotes, request services, file claims and directly insure themselves. In addition to this, the quotes and insurance information provided on the web page, as well as the advice received from any other source, are identical, and the customer receives a perfect, unified and coordinated service. The company has a more complete understanding of the customer, and by analyzing the customer's profile, purchasing history and updating habits, the company can design more targeted or personalized promotional campaigns. Insurance salespeople are no longer "Mr. Runner" but professional financial advisors.

In response to China's special social and human environment, domestic insurance companies have also launched their own special services. For example, a number of domestic insurance companies have opened a national service line beginning with "955" to provide customers with 24-hour consultation, complaints and return visits to establish their own brand and image of professional services. 2002 Korea-Japan World Cup soccer tournament, the domestic insurance companies and South Korean counterparts to cooperate in providing fans with The domestic insurance companies cooperated with their South Korean counterparts to provide the fans who went to South Korea with service programs such as off-site insurance survey, claims service and foreign emergency rescue. Some insurance companies set up green pergolas outside the examination halls of the college entrance exams to provide drinking water and resting places for parents of test takers, and took the initiative to assist local education departments in maintaining order outside the examination halls. In recent years, some agents with higher levels of knowledge and more experience have begun to design scientific and reasonable protection plans for their customers by combining various types of company products according to their different situations and needs. Some agents have learned Chinese medicine and other knowledge on their own, or provided opportunities for customers from various industries to exchange information by organizing customer salons.

(3) Innovation in the insurance service systemService is not only about providing service to customers, but also about managing employees within the company. The development of the company depends on the expansion of loyal customers, and the expansion of loyal customers depends on loyal employees. Then, for the company's employees, service innovation is mainly embodied in the incentive mechanism and constraint mechanism changes. Whether for internal or external staff, whether for management or ordinary employees, the design of incentive mechanism should reflect the concept of customer-centered. For example, at this stage, insurance agents' commissions mainly come from direct commissions. And the first commission occupies a high proportion in the total commission and the first premium. The first commission accounts for more than 80% of the total commission of each insurance business and 30%-40% of the first premium. Such a commission system undoubtedly makes the agent in the process of insurance marketing quantity rather than quality, not conducive to maintaining a long relationship with the customer, or worse, fraudulent customer behavior.

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