The Faculty of Finance (FOF) of the City University of Macau (CityU Macau) held a finance seminar recently at Ho Yin Convention Centre on the Taipa campus. The seminar themed at “Manage the Marketing Channels of Life Insurance Companies” invited Mr Walter Chen, Deputy General Manager of Tahoe Life Insurance Company (Macau) Limited, to be the guest speaker and share his insights on the topic.
Prof Cheung Wai Kong, Dean of Faculty of Finance, and Prof Khong Yueng Wah, Associate Dean of Faculty of Finance, attended the seminar.
In the lecture, Mr Chen elaborated on the importance of managing marketing channels using examples of Zhuhai Gree Group Company Limited and Alibaba Group Holding Limited. He analysed the four distribution models of life insurance, namely individual agent-based model, bank-based model, broker-based model, and internet-based model, and took the customer base, channel management, insurance products, sales performance and cost of sales as focal points to introduce their marketing characteristics. Mr Chen also shared his insights on the challenges and development trends of the four distribution channels.
In the following chapter, Mr Chen analysed the market development of Hong Kong in 2020 and gave an overview of the sales performance of each distribution channel in the business ratio of the top 10 major insurance companies in the city. Mr Chen also presented several excel tables to show premiums of different in-force policies in individual life insurance business, non-investment-linked individual life insurance business, and new individual life insurance business.
During the seminar, students asked questions on the impact of the sales model transformation of bank branches on sales products, and the ratio and focus of insurance products during the COVID-19 pandemic. Mr Chen answered the questions patiently and expressed his willingness to conduct further discussions with the student on various financial subjects.
The seminar provided the students with a better understanding of the outlook and market trend of the insurance industry, as well as the insurance market in Hong Kong. It has not only enlightened the master’s students to conduct thorough analysis on their thesis, and also help them to gain insights into business operations. The seminar reflected a sound industry-academia collaboration between FOF and the enterprise.
Source: CityU Reporter
