Insurers add products and services
The economic slowdown impacted both premium and investment revenue for major insurance brands. The possibility of obtaining insurance online also disrupted the industry. And government regulations added complexity.
Leading brands responded with greater presence online and by offering products aimed at the insurance and wealth management needs of the expanding middle class and the aging population. They also implemented training programs to improve sales agent expertise and marketing campaigns to improve agent image.
Six insurance brands rank in the BrandZ™ Top 100 Most Valuable Chinese Brands: China Life, Ping An, CPIC, PICC, New China Life, and China Taiping. They comprise 8 percent of the ranking’s total brand value. The insurance category increased 11 percent in brand value.