Sales Process of Life Insurance Company and Environmental Analisys

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The company I choose is MetLife China. MetLife is a life insurance giant operating in over 60 countries and provide services to over 90 million customers in the world. 1. The MetLife insurance agent in China need to get at least 80 hours pre training before they get the qualification to sell insurance product. The trainer will teach all kinds of insurance sells knowledge to the agent. After the agent pass the qualification exam, then the agent could enter the market to sell insurance. 2. The agent will contact a potential customer, if the potential customer interest in insurance, the agent will set up a appointment to meet the customer. 3. When the agent meets the customer, the agent will help customer to do the financial…show more content…
As we know, China economic was in high speed growth in last two decades, the result is the Chinese citizens income was in high speed growth as well. The insurance industry was new industry in China twenty years ago, and the large number of population attracted many foreign insurance companies to start business in China, at the mean time, the domestic capital also interested in the insurance market, there are average three new life insurance companies was set up in last ten years, and there are over 50 life insurance companies in China currently. The market competition becomes cruelty, the traditional agency channel to sell insurance product become more difficult. Many banks enter the insurance industry to set up their own insurance company, since the bank have already had their large number of customer, and the bank know their customer’s financial situation very well, so the bank staff is easier to contact the customer and sell the insurance product. So the traditional agent sales process is getting effectiveness.
As we mentioned above, due to the market competition, some of the insurance companies’ agency sales team recruit lot of agent to sell insurance, the new agent did not get enough professional training, and become annoying to lots of customer. They obtained the potential customer information illegally, which cause the complaints number to the insurance
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