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Through the case study,  we try to explain the possibility of  Aflac  investing in China.
Members Introduction <ul><ul><li>申宏威 </li></ul></ul><ul><ul><li>宫丽芬 </li></ul></ul><ul><ul><li>许  卉 </li></ul></ul><ul><ul...
Contents Conclusion <ul><li>Background </li></ul><ul><ul><li>Cancer insurance </li></ul></ul><ul><ul><li>Aflac </li></ul><...
Cancer Insurance Background Medical Costs  Standard health insurance covers most  medical costs. Reimbursement The standar...
Aflac Background <ul><li>Aflac is one of  Fortune 500  company.  </li></ul><ul><li>In the United States, Aflac underwrites...
The History of Aflac
Premium Income -Japan versus US <ul><li>What factors led Aflac to success of cancer insurance in Japan? </li></ul>
 
Aflac in Japan  (2009) <ul><li>Number one  life insurance company in terms of individual policies in force  </li></ul><ul>...
Background  1974-1984   The first company sells cancer insurance in Japan 1985-1994   Diversification of the product lineu...
Product:    Tailored for the market <ul><li>Designed in the context of the Japanese national health system </li></ul><ul><...
Promotion:   Reputation > Advertising <ul><li>1, Finance situation:  </li></ul><ul><li>Aflac is rated  AA-  by Standard & ...
  Place:    Smart distribution <ul><li>Sales network: corporate agencies, independent corporate agencies, and individual a...
Price:   Best Price Always <ul><ul><ul><li>1, Reliance on agents: Only get commission after gaining a new customer </li></...
Key Strategies in Japan lead to Core Competitiveness <ul><li>A well-timed entering Japan market, with the consciousness of...
Is there any opportunity in China?
逻辑结构 了解外部环境状况 明晰公司内部优势及劣势 外部环境 分析 内部资源 分析
E: 经济环境 外部环境 <ul><li>自 99 年起,商业健康险业务每年增长 52% </li></ul><ul><li>2008 年健康险市场容量高达 3000 亿 </li></ul><ul><li>2008 年,人均 GDP 超过 3...
就保险公司而言,商业健康险发展受税法等的制约 就个人而言,法律空白导致对投保人利益保护不力   外部环境 5% 中国 美国 无 5% 减免 1% 15% 个人所得税 税率 成本 P: 政治环境 对保险公司的反面进作用 对保险公司的反面进作用 现...
<ul><ul><li>内资前六家公司占据 85% 的市场份额,  外资仅占 4.9% </li></ul></ul><ul><ul><li>进入中国满 7 年的外资公司中,仅 2 家盈利 </li></ul></ul><ul><ul><li>...
拳头产品面临同类及替代品众多的威胁 产品 品牌 其他 渠道 Please write down of contents explanation for Business Area.  保险产品的特殊性使得其无法复制已有的高品牌知名度 国内渠道的...
小结 竞争激烈,外资公司生计维艰 拥有相当市场容量,然政治环境,人们意识等均需要提高 金融危机造成消费者对外资保险公司信任度急剧下滑 外部环境 内部资源
The Difference- between China and Japan <ul><li>产品已经失去行业先发优势 </li></ul><ul><li>市场环境的不同 </li></ul><ul><ul><li>商业环境不同 </li><...
Conclusion and Recommendation
Review the Case Conclusion <ul><li>Background </li></ul><ul><ul><li>Cancer insurance </li></ul></ul><ul><ul><li>Aflac </li...
Reference <ul><li>2008 年中国统计年鉴 </li></ul><ul><li>2008  Annual report for Aflac </li></ul><ul><li>Cancer Insurance Policies...
Thank You! Time for Q&A.
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Aflac Expansion Possibility in China

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Aflac Expansion Possibility in China

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Transcript of "Aflac Expansion Possibility in China"

  1. 1. Through the case study, we try to explain the possibility of Aflac investing in China.
  2. 2. Members Introduction <ul><ul><li>申宏威 </li></ul></ul><ul><ul><li>宫丽芬 </li></ul></ul><ul><ul><li>许 卉 </li></ul></ul><ul><ul><li>王若楠 </li></ul></ul>Background Conclusion Japan China
  3. 3. Contents Conclusion <ul><li>Background </li></ul><ul><ul><li>Cancer insurance </li></ul></ul><ul><ul><li>Aflac </li></ul></ul><ul><li>Health insurance in Japan </li></ul><ul><ul><li>Background </li></ul></ul><ul><ul><li>Key factors </li></ul></ul>What factors make Aflac to win in Japan? <ul><li>Health insurance in China </li></ul><ul><ul><li>Background </li></ul></ul><ul><ul><li>Fierce Competition </li></ul></ul>The difference between the markets of China and Japan.
  4. 4. Cancer Insurance Background Medical Costs Standard health insurance covers most medical costs. Reimbursement The standard insurance often results in financial hardship for patients and their families. Standard Insurance Cancer Insurance Nonmedical Costs The cancer insurance covers the nonmedical costs (such as lost wages, deductibles, copayments, and travel to and from caregivers). Cash Benefits The insurers, upon diagnosis of cancer, pay cash benefits for items that usually require out-of-pocket expenditures and are distinct from reimbursements made by traditional health insurance. Supplement As a supplement, the cancer insurance fill the gap in coverage.
  5. 5. Aflac Background <ul><li>Aflac is one of Fortune 500 company. </li></ul><ul><li>In the United States, Aflac underwrites a range of insurance policies, but is perhaps best known for its payroll deduction insurance coverage, which pay cash benefits when a policyholder has a covered accident or illness. </li></ul><ul><li>In Japan, the company is the second largest insurer overall and the largest life insurer, and is also well known for its supplemental medical policies . </li></ul>
  6. 6. The History of Aflac
  7. 7. Premium Income -Japan versus US <ul><li>What factors led Aflac to success of cancer insurance in Japan? </li></ul>
  8. 9. Aflac in Japan (2009) <ul><li>Number one life insurance company in terms of individual policies in force </li></ul><ul><li>The largest foreign insurer in terms of premium income. </li></ul><ul><li>Ranks first in the number of individual policies in force among all of Japan's life insurers </li></ul><ul><li>The fifth most profitable foreign company in any industry </li></ul>
  9. 10. Background 1974-1984 The first company sells cancer insurance in Japan 1985-1994 Diversification of the product lineup 1995-2004 Expansion of product-line and sales channels
  10. 11. Product: Tailored for the market <ul><li>Designed in the context of the Japanese national health system </li></ul><ul><li>Segment Market: On the ground of aging population social, Aflac researched and developed specific policies to meet the needs of the aging population. </li></ul><ul><li>Payment options selectable </li></ul>
  11. 12. Promotion: Reputation > Advertising <ul><li>1, Finance situation: </li></ul><ul><li>Aflac is rated AA- by Standard & Poor, AA- by Fitch Ratings, and Aa2 (Excellent) by Moody’s for financial strength. A.M. Best rates Aflac as A+ (Superior) for financial strength and operating performance. </li></ul><ul><li>Solvency margin 773.6% (March 2009) </li></ul><ul><li>2, Strong CSR: </li></ul>
  12. 13. Place: Smart distribution <ul><li>Sales network: corporate agencies, independent corporate agencies, and individual agencies to reach different customer groups </li></ul><ul><li>3,694 employees ( end of March, 2009 ) </li></ul><ul><li>82 branch offices ( April, 2009 ) </li></ul><ul><li>18,682 associates ( end of March, 2009 ) </li></ul><ul><li>Payroll-deduction basis; electronic transfers from bank accounts. </li></ul><ul><li>More than 39,600 payroll accounts representing 89% of the companies listed on the Tokyo Stock Exchange </li></ul><ul><li>Employers and employees at 157,600 small businesses </li></ul><ul><li>In Post Offices from October 2008. </li></ul>
  13. 14. Price: Best Price Always <ul><ul><ul><li>1, Reliance on agents: Only get commission after gaining a new customer </li></ul></ul></ul><ul><ul><ul><li>2, Less advertisements: related to the distribution strategy </li></ul></ul></ul><ul><ul><ul><li>3, Reasonable profit rate </li></ul></ul></ul>Efficient, low Cost Operation Low Cost Low Price
  14. 15. Key Strategies in Japan lead to Core Competitiveness <ul><li>A well-timed entering Japan market, with the consciousness of insurance is strong in Japan. </li></ul><ul><li>Made a valuable strategic alliance with local partners, thrived in a deregulated environment. </li></ul><ul><li>Specific and focused strategy and products, created a vibrant new niche market. </li></ul><ul><li>Introduced innovative business methods, unique know-how. </li></ul><ul><li>Long commitment : Persisted in its commitment to Japan and meets the requirements of the society. </li></ul>
  15. 16. Is there any opportunity in China?
  16. 17. 逻辑结构 了解外部环境状况 明晰公司内部优势及劣势 外部环境 分析 内部资源 分析
  17. 18. E: 经济环境 外部环境 <ul><li>自 99 年起,商业健康险业务每年增长 52% </li></ul><ul><li>2008 年健康险市场容量高达 3000 亿 </li></ul><ul><li>2008 年,人均 GDP 超过 3000 美元 </li></ul>1999 2002 2005 2008 text in here 52% 中国加速进入老年化社会: 至 2040 年,我们人口老龄化将达到 28% 超过美国 人们保险意识淡薄: 2007 年一份调查显示,只有 32% 的人购买了商业保险 S: 社会环境
  18. 19. 就保险公司而言,商业健康险发展受税法等的制约 就个人而言,法律空白导致对投保人利益保护不力 外部环境 5% 中国 美国 无 5% 减免 1% 15% 个人所得税 税率 成本 P: 政治环境 对保险公司的反面进作用 对保险公司的反面进作用 现代计算机技术的发展促进保险业产品的创新 服务质量的提高 整个行业竞争更加激烈单个保险公司很难长时间保有某个产品优势 T: 科技环境
  19. 20. <ul><ul><li>内资前六家公司占据 85% 的市场份额, 外资仅占 4.9% </li></ul></ul><ul><ul><li>进入中国满 7 年的外资公司中,仅 2 家盈利 </li></ul></ul><ul><ul><li>政府监管严格 </li></ul></ul><ul><ul><li>与内资公司竞争激烈 </li></ul></ul><ul><ul><li>新允许进入的银行等加入更恶化了竞争环境 </li></ul></ul>外部环境 低 弱 弱 外资 高 强 强 内资 类别 资本 渠道 消费者认可度 9% 4.94% 4% 2007 2008 1Q 2009 外资公司竞争环境
  20. 21. 拳头产品面临同类及替代品众多的威胁 产品 品牌 其他 渠道 Please write down of contents explanation for Business Area. 保险产品的特殊性使得其无法复制已有的高品牌知名度 国内渠道的排他性协议使得开拓渠道困难重重 在日本市场取得的先机优势已不具备 内部资源
  21. 22. 小结 竞争激烈,外资公司生计维艰 拥有相当市场容量,然政治环境,人们意识等均需要提高 金融危机造成消费者对外资保险公司信任度急剧下滑 外部环境 内部资源
  22. 23. The Difference- between China and Japan <ul><li>产品已经失去行业先发优势 </li></ul><ul><li>市场环境的不同 </li></ul><ul><ul><li>商业环境不同 </li></ul></ul><ul><ul><ul><li>社保体系的不同 </li></ul></ul></ul><ul><ul><ul><li>公司保险商业保险的无缝连接 </li></ul></ul></ul><ul><ul><li>政治环境不同 </li></ul></ul><ul><li>成功的低成本营销和品牌推广策略难以复制 </li></ul>
  23. 24. Conclusion and Recommendation
  24. 25. Review the Case Conclusion <ul><li>Background </li></ul><ul><ul><li>Cancer insurance </li></ul></ul><ul><ul><li>Aflac </li></ul></ul><ul><li>What factors make Aflac to win in Japan? </li></ul><ul><li>5 Points </li></ul><ul><li>Health insurance in Japan </li></ul><ul><ul><li>Background </li></ul></ul><ul><ul><li>Key factors </li></ul></ul><ul><li>Health insurance in China </li></ul><ul><ul><li>Background </li></ul></ul><ul><ul><li>Fierce Competition </li></ul></ul>The difference between the markets of China and Japan.
  25. 26. Reference <ul><li>2008 年中国统计年鉴 </li></ul><ul><li>2008 Annual report for Aflac </li></ul><ul><li>Cancer Insurance Policies in Japan and the United States By CHARLES L BENNETT, MD, PhD; PETER D. WEINBERG, and JAMIE J. LIEBERMAN, Chicago, Illinois </li></ul><ul><li>Firm Performance In The Chinese Insurance Industry By Tyler Leverty* Georgia State University, Yijia Lin Georgia State University, Hao Zhou Allianz General Representative Office </li></ul>
  26. 27. Thank You! Time for Q&A.
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