CHECHE

On August 21, 2020, China Influential Financial Brand Summit hosted by the “China Banking and Insurance News” was grandly held in Yunnan. The summit has been held for four consecutive years already. Every year, the most innovative brands emerge from the summit, serving as excellent case studies in the industry that are highly recognized by financial professionals. In this year's event, Abao Insurance Platform won the annual innovative brand award.

For a long time, the development of Chinese insurance industry relies on China's size of population, therefore the growth of insurance companies mostly has focused on penetrating the market quickly through expansion in sales/marketing channels and related personnel. However, the financial benefits the insurance companies can draw from the population size is gradually disappearing during recent years, and the traditional sales team expansion strategy used by the industry has been seriously challenged. The skill levels of insurance practitioners remain disparate and generally low and the unethical sales and claims processes remain large industry problems.

As a very sophisticated financial product, insurance will continue to evolve and there is a growing need of insurance advisory services. Therefore, Abao Insurance aims to break the current marketing and sales model and shift to a more customer-centered model to truly provide adequate financial protections.