Newrand-uildingDirectionforInsuranceIndustry.pdfVIP

New Brand-Building Direction for Insurance Industry Robben Lin, Senior research executive, Ipsos As customers are more likely to accept insurance products nowadays, insurance companies have also launched various insurance policies to meet customers’ need. 「 Spillover Policy」 is one of examples, that buyers could cut down their premium rate by reducing the risk or improving their body health. For instance, drivers could reduce their auto premium rate by maintaining good driving behavior. Salesperson Is Not the Only Channel for Insurance Purchase In the past, people had limited knowledge of insurance products and tend to rely on salesperson for advices, resulting in customers’ purchasing insurance simply because of the pressure from salespersons. However, salespersons are no longer the only channel for customers to buy products in recent years. Based on the past result of market research, customers appear to buy insurance-based investment products via banking channel. Because financial specialists not only well understand customers’ financial condition, but also can take insurance into account while making financial planning. Besides, it helps to avoid pressure from salesperson. According to the data from The Life Insurance Association of the republic of China, of the premium income from insurance policies in 2009, the income from banking channels has surpassed that of insurance salespersons for the first time and maintained more than 50% until now. On top of that, online insurance platform or telephone sales also provides an easy way for customers to purchase. Buying via telephone sales not only can shorten the purchase procedure but make payment easier as customers could choose to pay by credit card. On the other hand, as more customers get used to financial management through online platform, Financial Supervisory Commission has allowed Insurance Brokers and Agent Companies to imp