Affected by the new coronavirus pandemic, the transformation of insurance agents’ marketing model is particularly profound.
While insurance agents’ face-to-face sales channels have been disrupted since the COVID-19 outbreak, online marketing methods have ushered in new growth opportunities. In turn, many large insurance companies in China are adjusting their business model into one that integrates online and offline.
In the online marketing section, in addition to their official channels, other channels such as TikTok and live streaming, short-form videos on various platforms have sprung up this year.
According to a report released by Fudan University, as of May 2020, there were 70,000 insurance-related videos on the TikTok platform, which were played 2.1bn times by users.
“Even when the pandemic ends in the future, the marketing model of online and offline integration will continue to exist for a long time.” China Pacific Life Insurance general manager Pan Yanhong said at the company’s annual report press conference.
The report added that with the awakening of consumer demand under the pandemic, a new ecology of insurance marketing has arrived. Under this new ecology, consumers’ needs are the core, and through the empowerment of insurance agents, insurers have a new opportunity to meet the growing and diverse protection needs of consumers.