Abstract

Since 2018, the development of Chinas insurance industry has entered an unprecedented downturn, and no sign of reversal has been seen so far.  In 2021, the premium will show the first negative growth in 10 years.  The reasons are not only the impact of macroeconomic downturn and epidemic impact, but also the factors of policy adjustment brought about by "insurance insurance".  However, the deeper reason is that the environment faced by the industry has fundamentally changed, the contradiction between supply and demand has not been well resolved, and the traditional business model has been unable to adapt to the development requirements of the new situation.  Facing the development dilemma, where is the way for Chinas insurance industry?  This paper believes that for insurance companies, they should recognize the new situation, focus on new opportunities, build new capabilities, create new models, "focus on customers, do a good job in customer management, take digitalization as the starting point, and do a good job in the construction of the ecosystem", promote transformation and development with a long-term mentality, and achieve a new stage of upward growth.  At present, Chinas insurance market has evolved from a monopoly market to a competitive market.  In view of the changes in consumer behavior and the process of financial integration brought about by the market transformation, the traditional insurance marketing model faces many challenges.  To maintain the sustainable development of the insurance industry, we must change the marketing methods and adjust the marketing strategies.

Keywords: Insurance, market, consumption, behavior, marketing strategy