久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Companies

Prudential executive: Insurance sector can be six times bigger

By Li Xiang | China Daily | Updated: 2018-05-03 10:32
Share
Share - WeChat
Nic Nicandrou,chief executive of Prudential Corporation Asia

Please use three words to describe China's changes in the past 40 years.

Progressive, wise and well thought-through.

What are the biggest achievements in China since the introduction of reform and opening-up policy 40 years ago?

Opening up the market to attract foreign capital is a huge game changer for China. If you combine the openness with the population that is increasingly better educated, then you have the ingredients to effectively reap the success that China is enjoying today. I think the other key thing is being prepared to evolve as the country goes through different stages, and to plan with a very long horizon as opposed to a narrower and shorter horizon. It means that a lot of the policies and steps that have been taken by the authorities have been well thought-through.

How do you see the growth potential of China's insurance and asset management industries?

For life insurance and asset management business, the market is still underpenetrated in China. On the asset management side, the whole market is about $1.8 trillion, which is roughly equivalent to 15 percent of the GDP. When we compare it with the US or EU, which have an asset management sector with a size equivalent to 75 percent of GDP, it means that the Chinese market very soon will have the potential to be six times bigger than it is today.

On the side of life insurance, there are only about 115 million Chinese people that have a life insurance or a saving-type contract. When you compare that to the population of 1.4 billion or to the size of the middle class, which is around 400 million, it gives you a sense of the growth potential of the Chinese market.

In China, we operate through two joint ventures with CITIC Group, a very important partner and a very well-established State-owned enterprise. We are pleased to be in joint venture with such a strategic partner because as a Western company, we need to work with people who understand China from the cultural perspective and know how to navigate some of the complexities in the country.

The Chinese regulators have indicated their intention of allowing foreign investors to own a controlling stake in their China JVs. Do you have any plan to increase investment in China and boost the stake in your JV?

We'd like to invest organically — to hire more people, invest in more technology and build new offices and new branches as we expand in China. We would like to boost our stake holding in the JVs to 51 percent or more. But at present, we do not intend to own 100 percent because I think in China it is important to work with an influential partner.

Our strategy is to cover as much of China as possible. We are looking to add more provinces as we go more toward central and western China. We distribute our products in two ways. One is through agents, the number of which is growing at a very fast rate. We had 44,000 sales agents in the country by the end of 2017, doubling the size we had two years ago. At the same time, we have access to about 4,500 bank branches today, through which we can distribute our products. There are huge opportunities to go after. China is now the second largest contributor to our new sales and fourth largest contributor to our profit. The country will be the fastest growing market for us for many years to come given the size of the opportunity.

What does Prudential's recent plan to separate its UK and European business and the US, Asia-Pacific and African operations mean for the firm?

We do this from a position of strength. By separating the two businesses, we think it will give them greater flexibility to pursue the opportunities in their respective target markets, and in doing so it will maximize the value for our stakeholders. The UK business component will be freer to compete with its peers in Europe rather than against other parts of Prudential. And the international component will be able to exclusively focus on three great opportunities in our sector, one is in the US, which is the world's biggest and most valuable market; Asia, which has some of the fastest growing markets in the world given the economic development and the rise of the middle class; and Africa, which is the world's most underpenetrated market in insurance.

For Asia, this (the split) will allow us to accelerate the rate at which we are investing and growing in the markets which is already strong in China. For example, we grew our sales by 43 percent in the country last year. We will be able to do so even faster with a greater focus. We will also be in a position to attract new investors into Prudential Plc that have a growth-centric orientation and those that want to invest in businesses that are growing and are happy to see the profits that we generate each year to be reinvested back into the business. By separating the businesses we will give the opportunities to the investors to decide whether they want to have more exposure to the growth-centric international business as opposed to more cash-centric UK business.

Mobile and internet finance has been developing rapidly in China. What's Prudential's digital plan and how will you integrate technology into your business model? ?

We are increasing spending across Asia to around $422 million into new technological advancements. We invest in technology to support our agents and for the staff working in bank branches. The sales process can take place on a tablet and a policy can be issued in 30 minutes. That's how efficient it is. In claims, we have been investing in technology that helps reduce the amount of time for customers to wait to be paid from 15 days to just one day. We do that by allowing people to effectively file their claims through WeChat, through which they can track the progress of their claims.

We are now looking to cooperate with a number of online platforms in China so that we can sell products on the platforms and they can be directly accessed by customers. The nature of what we are doing does require professional advice though. If you want to buy some form of protection or health insurance, you would want to interact with a specialist for advice and to ask questions. We don't think it would be in the interest of our customers to simply go on a menu and buy them. People don't mind going online to do research. But when it comes to making a decision for a life insurance product or a long-term educational saving plan, they want to talk to a human. I think in the future, it is about the combination of both online and offline access for our customers.

What is most important principle of operating an insurance company?

I think the most critical thing is risk management. Quality business is about selling a product that a customer needs and wants and is sold in a way that doesn't create any systemic risk. We have not sold any short-term guarantee products and we will not make unrealistic promises about achieving a certain return. The critical thing for risk management starts with what needs you are fulfilling, what products you are selling to fulfill the needs and what promises you make to your customers.

What is the most unforgettable experience you have had in China?

I love history and visiting the terracotta warriors in Xi'an, Shaanxi province, has always been a dream of mine ever since I was a young boy. I took the first holiday in September after I was appointed chief executive of Prudential Corporation Asia to celebrate my 25th wedding anniversary. My wife and I spent a week in China. We went on the bullet train from Shanghai to Xi'an and went into the exhibit of terracotta warriors. It was like a dream come true.

1 2 Next   >>|
Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    日本肉体xxxx裸体xxx免费| 亚洲第一精品区| 久久久一本二本三本| 国产裸体免费无遮挡| 亚洲精品永久视频| 青青青在线视频播放| 亚洲这里只有精品| 久久久久久人妻一区二区三区| 一区二区三区视频在线观看免费| 午夜剧场在线免费观看| 国产乱淫av片杨贵妃| www.色欧美| 国产美女网站在线观看| 午夜视频在线观| 日本精品免费在线观看| 一级一片免费播放| 激情六月丁香婷婷| 欧美另类videosbestsex日本| 成人免费无码av| 亚洲精品在线网址| 99久久久无码国产精品6| 天天爱天天做天天操| 18岁网站在线观看| 久久人妻精品白浆国产| 人人妻人人澡人人爽精品欧美一区| 黄色动漫在线免费看| 久久久久亚洲av无码专区喷水| 国产成人手机视频| 免费毛片网站在线观看| 小说区视频区图片区| 香蕉视频网站入口| 国产中文字幕免费观看| 一二三四中文字幕| 欧美精品 - 色网| 亚洲黄色小视频在线观看| 久久亚洲中文字幕无码| 无码毛片aaa在线| 国产又大又黄又猛| 一本久道综合色婷婷五月| 亚洲人成无码网站久久99热国产 | 无码人妻丰满熟妇区96| 国产精品8888| 日韩精品在线播放视频| 国产成年人视频网站| 好男人www社区| 成人久久久久久久久| 成人午夜精品久久久久久久蜜臀| 国产av不卡一区二区| 91在线第一页| 一区二区三区免费播放| 国内外成人激情视频| 尤物av无码色av无码| 午夜啪啪小视频| 亚洲va在线va天堂va偷拍| 91丝袜超薄交口足| 热久久最新网址| 黄色大片在线免费看| 97xxxxx| 97在线免费公开视频| 亚洲色图38p| 欧美日韩理论片| 国产免费裸体视频| 97在线免费公开视频| 最新天堂中文在线| 欧美与动交zoz0z| 欧美视频在线观看视频| 国产日韩一区二区在线观看| 尤蜜粉嫩av国产一区二区三区| 婷婷激情5月天| 久久亚洲a v| av网址在线观看免费| 九一精品久久久| 男女激情免费视频| 污污视频网站免费观看| www.日本久久| 日韩xxxx视频| 欧美三级理论片| 91精品一区二区三区四区| 国产黄页在线观看| www.亚洲高清| 日韩欧美精品免费| 网站一区二区三区| 日本成人在线不卡| 熟妇人妻无乱码中文字幕真矢织江| 992kp免费看片| 国产女大学生av| 9久久9毛片又大又硬又粗| 男人天堂成人在线| 日本xxxxx18| 国产裸体舞一区二区三区| 永久av免费在线观看| 国产精品国产亚洲精品看不卡| 九色porny自拍| 国产美女主播在线播放| 四季av一区二区三区| a级黄色一级片| 亚洲欧美一区二区三区不卡| 欧美日韩在线中文| 91麻豆天美传媒在线| 毛葺葺老太做受视频| 女女百合国产免费网站| 嫩草av久久伊人妇女超级a| 日韩一级特黄毛片| 一道本视频在线观看| 日韩日韩日韩日韩日韩| 天美一区二区三区| 免费av网址在线| 99在线观看视频免费| 亚洲免费成人在线视频| 欧美日韩国产精品激情在线播放| 影音先锋男人的网站| 在线观看高清免费视频| 国产九九九九九| 最新av网址在线观看| 亚洲这里只有精品| 丁香啪啪综合成人亚洲| 国产精品第157页| www.午夜色| 国产精品久久a| 亚洲午夜精品久久久久久人妖| 日本高清视频免费在线观看| 深夜黄色小视频| 777米奇影视第四色| 国产日韩亚洲欧美在线| 亚洲最新免费视频| 911福利视频| 亚洲激情在线观看视频| 日韩久久一级片| heyzo亚洲| 国产精品一线二线三线| 国风产精品一区二区| 97超碰人人看| 午夜xxxxx| 成年人三级黄色片| 亚洲一级免费观看| 九九视频精品在线观看| 日韩精品视频一区二区在线观看| 99国产精品白浆在线观看免费| 国产大片一区二区三区| 手机av在线网| 国模私拍视频在线观看| 在线观看的毛片| 91日韩视频在线观看| 免费在线a视频| 波多野结衣家庭教师在线播放| 久久这里只有精品23| 久久人人爽人人爽人人av| 女人被男人躁得好爽免费视频| 蜜臀av.com| 热久久最新地址| 久操手机在线视频| 91午夜在线观看| 亚洲人成无码网站久久99热国产| 精品人妻人人做人人爽| 搞av.com| 欧美日韩二三区| 国产精品亚洲a| 青青青在线视频免费观看| 国产av人人夜夜澡人人爽| 波多结衣在线观看| 日本熟妇人妻中出| mm131国产精品| 久久精品久久99| 小泽玛利亚av在线| 97在线国产视频| 大肉大捧一进一出好爽视频| 国产精品亚洲a| 奇米影视四色在线| 一区二区三区日韩视频| 国产 国语对白 露脸| 欧美黑人经典片免费观看| 少妇性饥渴无码a区免费| 九热视频在线观看| 天天久久综合网| 大荫蒂性生交片| 欧美国产亚洲一区| 99热手机在线| 中文字幕 欧美日韩| 中文字幕在线中文| 成人免费毛片网| 中文字幕66页| 香港三级日本三级a视频| 777久久久精品一区二区三区| youjizzxxxx18| 大桥未久一区二区三区| 日本www在线视频| 亚洲成人天堂网| 午夜不卡福利视频| 四虎4hu永久免费入口| 亚洲熟妇av日韩熟妇在线| 超碰在线人人爱| 裸体裸乳免费看| 干日本少妇首页| 免费网站在线观看黄| 天天色天天干天天色| 国产精品999视频| www.日本一区| 青青草国产免费| 伊人国产在线视频| 交换做爰国语对白|