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China 2015: CATEGORY UPDATES | Insurance

Insurance (-10%)

Insurance brands added agents and strengthened various selling channels in an effort to reach consumers more effectively and persuade members of the rising middle class that insurance to protect their increasing assets is an important investment.

During a period of slower growth, and with the prospect of increased competition resulting from market reform, brands attempted innovative approaches to reach customers and improve service.

Extensive promotion drove e-insurance sales increases for New China Life. PICC Property and Casualty Company, Ltd. collaborated with Tencent, the Internet portal, to create a car platform that adds maps and other online resources to PICC’s offline capabilities.

Six Chinese insurance brands appeared in 2015 BrandZTM China Top 100, with a total brand value of $28.3 billion dollars, accounting for 6 percent of the ranking’s total brand value.