Buy custom Sun Life Insurance - Entering China
Essay's paper info
| Topic: |
Business
|
| Number of pages / Number of words: |
2 / 414 |
Essay's paper body
Strength:
- Experience that Sun Life Financial have in insurance business – Started since 1865
- Experience in expanding into new foreign market
- Had a representative office in Beijing since 1992
- Wide range of products available to customers to suit their need
- Ability to customize package for high net worth individuals – More effective and efficient in generating profit
- Distribution Channel
Weaknesses:
- Restriction to expansion
- Not getting the full license for the joint venture as on year 2000
- Product and service not customize for China insurance market
Opportunities:
- A market to tap on the untapped potential due to its population size and underdeveloped business in some industries
- China is 2nd to United States on purchasing power parity basis
- Low penetration of insurance in China
- Possible growth rate of 15% over 10 year period for revenue
- Possibilities to be granted license to do business in new cities by China
- People buying insurance for security purpose due to the decrease in job security – No more iron bowl
Threats:
- Level of bureaucracy in obtaining licenses and restricted on type of products and service allowed
- Corruption & piracy
- Possible disagreement occur between venture with Everbright
- No same strategy can be apply throughout China due to demographic differences
2) By entering the China’s Market, Sun Life Financial :
? Aim to enter the higher return protection business lines in the low penetration insurance market in China
? Achieve superior shareholder return
? Expand the market share in different demographical
? Increase in the revenue
3)
Sun Life are now looking into getting more market shares and doing business in a low operating cost and little competition market...
Essay fragment
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Strength:
- Experience that Sun Life Financial have in insurance business – Started since 1865
- Experience in expanding into new foreign market
- Had a representative office in Beijing since 1992
- Wide range of products available to customers to suit their need
- Ability to customize package for high net worth individuals – More effective and efficient in generating profit
- Distribution Channel
Weaknesses:
- Restriction to expansion
- Not getting the full license for the joint venture as on year 2000
- Product and service not customize for China insurance market
Opportunities:
- A market to tap on the untapped potential due to its population size and underdeveloped business in some industries
- China is 2nd to United States on purchasing power parity basis
- Low penetration of insurance in China
- Possible growth rate of 15% over 10 year period for revenue
- Possibilities to be granted license to do business in new cities by China
- People buying insurance for security purpose due to the decrease in job security – No more iron bowl
Threats:
- Level of bureaucracy in obtaining licenses and restricted on type of products and service allowed
- Corruption & piracy
- Possible disagreement occur between venture with Everbright
- No same strategy can be apply throughout China due to demographic differences
2) By entering the China’s Market, Sun Life Financial :
? Aim to enter the higher return protection business lines in the low penetration insurance market in China
? Achieve superior shareholder return
? Expand the market share in different demographical
? Increase in the revenue
3)
Sun Life are now looking into getting more market shares and doing business in a low operating cost and little competition market...
Essay fragment
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