Understanding the Changing Middle Market for Life Insurance in China
The International Section, Marketing and Distribution Section along with the Research Expanding Boundaries Pool supported a research initiative that explored the changing middle market for life insurance in China. Led by Dr. Walter Zultowski of WZ Research + Consulting, LLC in collaboration with Greenwald & Associates, 1,989 young family households from 19 cities across China with annual incomes between RMD 60,000 and 360,000 were surveyed to understand some of the general attitudes and behaviors of today’s consumer of life insurance in the country. The results were used to identify different segments of the life insurance consumer.
The sponsors are pleased to present the results of the study along with a whitepaper, available in both English and Standard Chinese, authored by Dr. Zultowski discussing differences between the market segments and offering ideas on how to effectively market to them. Lastly, a scripted presentation by Dr. Zultowski, who presented the research findings at the 2014 Life & Annuity Symposium, is provided to help develop presentations of the research and marketing ideas from the study.
The sponsors would like to thank the following individuals who served on the Project Oversight Group:
Adam Vanevenhoven, Chair
Jan Schuh, SOA staff
Ronora Stryker, SOA staff