Monthly per capita production capacity of 44,500 yuan, monthly per capita income of 10,600 yuan... The independent agent business explored by Everyone Life has come out of the "independent market" that is better than the industry in the first half of this year.
At a time when the life insurance industry is undergoing deep transformation, what is the judgment of the "unique generation" of Life, which is exploring the way, on the transition period? How has the road of independence been taken in the past three years? How to retain elite agents? The relevant person in charge of the company recently elaborated.
The transition period of life insurance may be quite long, and the outlook is still optimistic
"If the grass-roots branches or agents are forced by the pressure of business development and have not changed in the specific process, such as customer service means, professional ability building, recruitment and screening and other key elements, then it is difficult for us to evaluate the success of the transformation with the transformation time of 5 years or 10 years." Wang Gang, director of life insurance, said frankly.
Wang Gang has been working in large life insurance companies since 2000 and has been in the front line of business for more than 20 years. In his view, the transformation can only see the dawn after a cycle in which the insurance company's top-level planning and grassroots practices go in the same direction, the goals and actions are aligned.
At present, the number of life insurance agents has dropped to 4 million, which is lower than the peak of tens of millions of people. The sharp decline in the scale of manpower is an important factor dragging down the performance of the life insurance business. With the development of the market and the maturity of consumers, the transformation and development of the industry is inevitable, and the transformation of agents to elite and specialization has become a consensus.
Wang Gang believes that the underlying logic of this round of transformation is the transformation of customer demand, and the supply side has not kept up. From the source, the agent recruitment end is very critical, after the entrance is closed, but also to do a good job of professional training. The first half of the personal insurance channel was neglected to recruit and screen, which is also an important reason why the industry is facing pressure at this stage.
"This round of deep transformation of China's life insurance industry is likely to go through a certain cycle." Wang Gang agreed that the transformation proposed by a consulting firm takes 10 years of judgment. However, he is not pessimistic and remains optimistic.
First, the development of everything has its own laws, and the rapid growth of life insurance will not last forever. "The development of the past few years, like pouring beer faster, is prone to foam on it, and now it is the process of cleaning up the foam." From this point of view, it is normal for the agent team to drop from tens of millions to millions, and the survival of the fittest is in line with the development law of things themselves. ”
Second, there are international experiences to learn from. He mentioned a sample of the transformation of the Japanese life insurance industry in the 1970s. At that time, the Japanese life insurance industry had the same problems as high shedding rate, low staff increase rate, low continuation rate, and high complaint rate, but after 10 years of reform, it laid the foundation for agent specialization and channel diversification. The first article of Japan's life insurance reform is to raise the industry threshold, strengthen education and training, and strengthen qualification certification. This can provide a reference for the domestic life insurance industry.
Third, and most importantly, the market is good. China's economic prospects are promising, residents' wealth is growing, there is a demand for wealth management and health care services, which has laid the foundation for the insurance market.
A period of time will not replace the traditional model
In 2020, We Life will start the exploration of the independent agent model. One reason for choosing this path is that the traditional pyramid agent team is facing the problem of transformation, and the life insurance business starts from scratch and has no historical baggage.
At the end of 2020, the China Banking and Insurance Regulatory Commission issued the Notice on Matters Related to the Development of Independent Individual Insurance Agents, which clarified the regulatory rules such as the positioning of independent agents, condition standards, and codes of conduct, and officially released the model of independent agents.
Compared with traditional agents, the core of the independent agent model is to eliminate the organizational level of the traditional model, reform the benefit distribution mechanism and assessment mechanism, and tilt the interests to the sales line, which will help improve the stability of the team and improve the quality of the team.
Since the discovery of the way, Everyone Life is achieving results that exceed its expectations. In the first half of this year, the single-agent business achieved a premium payment of 390 million yuan, an increase of 225% year-on-year. The monthly per capita production capacity of independent agents is 44,500 yuan, and the monthly per capita income exceeds 10,000 yuan, reaching 10,600 yuan, which is significantly higher than the industry level.
From the perspective of the industry, the number of intermediaries and insurance companies exploring the independent generation is increasing, will the independent generation become the mainstream business model?
We believe that the future trend is not easy to judge, but it is certain that for a limited period of time, the independent agent model will not replace the traditional model. "The single generation is a new thing in China, and it needs a cycle of pattern verification. The precipitation of business models, the formation and output of experience, these all need time, but also need more peers to explore together. ”
"It's not that today's per capita capacity and high income can cover our problems and dilemmas." Everyone's life department admits that in the process of exploring the one-generation model, it has also encountered difficulties such as talent recruitment, cultivation and customers, and to this day, it has been on the road.
Professional empowerment is the biggest test at present, and it is also the core competitiveness
From the perspective of everyone's life itself, the independent model has three elements: a flat ledger model, an organizational carrier for firms and partners, and an ecological professional empowerment system. In the view of everyone's life, the professional empowerment system is the biggest test at present, but it is also the core competitiveness.
"Insurance is a long-chain industry, and sales are the same, from early selection, process training, customer service, to customer management." Wang Gang said that insurance is quite complicated, it is difficult to rely on "a secret book" to arm the sales force, and what should be done must always be done. In terms of professional empowerment, it continues to build four systems of "recruitment, customer economics, training and operation".
Take professional training, for example. This year's "Galaxy Plan" for high-quality newcomers, through school-enterprise cooperation to carry out the "three years and five certificates" certification; Recently, it has launched professional enhancement training for high-performing agents, and has joined hands with the International Trust and Asset Planning Institute (STEP) and Puyi Standards to provide them with 6 months of training and examination, covering the basic principles and applications of trust, law, taxation and asset allocation. Trainees can be recommended as globally certified STEP members to better serve the insurance fund trust needs of high-net-worth customers.
Everyone Life said that independent individual insurance agents must be a professional and professional team in the future. "The future hope of life insurance is a model of elite, we will not deliberately pursue the rapid growth of manpower scale, but to put quality first." "The creation of the MDRT (Million Table Forum member) team and the cultivation of ace manpower are the focus."
At present, insurance companies are paying more and more attention to elite agents, how to retain talents? Wang Gang said bluntly that the competition for talents is difficult to avoid in various industries, which in turn inspires us, such as walking on thin ice. "Human growth requires interaction. The creation of our professional empowerment system and the implementation of so many professional actions hope to attract and recruit more high-quality whiteboard newcomers and grow in accordance with everyone's way, so as to retain excellent talents. ”
Mr. Dong Fengming, MDRT, Shanghai Branch, is a member of the company who values professional competence. She worked for more than 7 years in a joint venture insurance company, serving nearly 400 client families. In the process, she found that the customer's understanding of insurance is becoming more and more mature, the demand is becoming more and more diversified, the pension planning has become just needed, the demand for family wealth inheritance has become prominent, and her professional reserves have been unable to meet the needs of customers.
After becoming an independent agent, she had different feelings. "The company has given a lot of professional empowerment, and the one-generation model has also made me less constrained and began to truly serve and operate customers independently." From the perspective of customer perception, insurance is a virtual commodity, gaining the trust of customers is the first, customers through visiting and understanding, the strategic layout of our insurance, service system are very agreeable. At the same time, they saw that I had been actively learning, constantly enriching my professional knowledge, and preferring to entrust my long-term family planning to me. ”
Editor-in-charge: Wang Lulu