With a new track, strong professionalism, and a platform, Xinhua Insurance’s “WLP” empowers the sales team to become a “polygonal warrior”

With the in-depth implementation of the Ten New Policies of the insurance industry, accelerating the reform of the marketing system has become an industry consensus. In this context, Xinhua Insurance actively responded to policy calls and took the lead in transforming its sales team.

Faced with customers ‘increasingly complex insurance needs, Xinhua Insurance is deeply aware that a single sales capability can no longer meet the market. In the future, what it needs is a compound elite insurance agent who can provide a package of full-life professional services such as health, pension, and wealth planning.

Following the launch of the XIN Generation Plan, in order to further empower the team, Xinhua Insurance has innovatively launched the Whole Life-Cycle Planner (WLP) training system, with professional and market-oriented reform as the core and committed to building Agents into interdisciplinary all-round service talents to provide solid backing for their growth and development. At the same time, it fully combines various advantageous resource platforms of companies such as health care, high-customer services, and intelligent innovation to help agents become partners in elderly care, health and wealth management who accompany customers to grow.

Through the systematic empowerment of excellent growth and excellent education, the creation of a professional iron army is also more in line with Xinhua Insurance’s high-quality development path, continuously improving insurance protection capabilities and service levels, and continuing to be a good guardian of customers ‘better lives. The successful launch of the Full Life Cycle Planner (WLP) training system has also provided a Xinhua sample for reference for the transformation and development of insurance industry agents.

“XIN plans to explore the way for compound insurance agents

The Ten New Countries for the Insurance Industry clearly state that the future of the insurance industry is no longer just scale expansion, but must follow the path of high-quality development. By 2029, a high-quality development framework for the insurance industry will be initially formed with steadily expanding coverage, increasingly comprehensive guarantees, continuous improvement of services, and sound and effective governance and internal control.

Development is an eternal theme of the insurance industry, which is accompanied by transformation and upgrading at different stages. Transformation, literally speaking, is just a simple word, but for a life insurance company at the forefront of the industry, it carries many tests and challenges from top to bottom, inside and outside. It requires a clear understanding of its own strengths and weaknesses. Only by understanding and positioning, and understanding the reform path and future development strategy can we refine a set of methodology and apply it to all aspects of business.

During the critical period of transformation and upgrading of the life insurance industry, Xinhua Insurance has always focused on the core theme of high-quality development, established a correct management concept, performance concept and risk concept, and continuously increased its sustainable development capabilities.

It can be seen that under the planning of the new management team, Xinhua Insurance has launched a set of operation and management combinations of value improvement, channel transformation, and customer service reform, and comprehensively enhanced the company’s core competitiveness through comprehensive and systematic engineering adjustments.

In the past year of 2024, Xinhua Insurance delivered an outstanding report card, achieved steady growth in premiums and total assets, continued to optimize its business structure and quality, and began to show results in connotative and high-quality development.

Last year, Xinhua Insurance achieved overall growth in its scale and value. The cumulative original insurance premium income for the year was 170.511 billion yuan, a year-on-year increase of 2.8%. The performance report shows that after preliminary calculations, the net profit attributable to shareholders of the parent company is expected to be 23.958 billion yuan. To 25.7 billion yuan, a year-on-year increase of 175% to 195%; Investment income achieved significant year-on-year growth, coupled with the optimization of insurance business structure and scale growth, which became the main reason for the rapid improvement of Xinhua Insurance’s performance.

The life insurance industry has entered a period of deep adjustment. The era of silver hair economy has provided a development outlet for the insurance industry. Wealth management needs have opened up growth space for the insurance industry. The construction of a multi-level medical system has helped the insurance industry release greater demand potential. The requirements of the new cycle for life insurance companies are also evolving, gradually evolving from a dominant position to an enabler, service provider, and platform orientation. Human resources are an important starting point to achieve high-quality development of life insurance, and team building is the top priority. In addition to basic recruitment and training of agents, we must also find every means to provide agents in terms of products, health, pension, wealth planning and other aspects. support.

Xinhua Insurance has always attached great importance to team training and building, and is committed to fundamentally improving the professional quality and service level of the team, so as to better assume the social responsibilities of insurance institutions and exert the value of insurance protection.

It can be seen that last year, Xinhua Insurance first launched the new Basic Law to realize the income distribution system, career development path, and welfare guarantee mechanism to build an incentive system that is in line with the new situation of the industry and promote the scale of high-performance manpower.

Later, the XIN Generation Plan was released, which promoted the transformation and upgrading of the marketing team through five upgrades to lead the team, upgraded the service system to boost the team, upgraded the training system to cultivate the team, upgraded the resource system to support the team, and upgraded the management platform to strengthen the team and support team building. ldquo; The XIN Generation Plan focuses on key aspects such as talent recruitment, training, retention, and promotion, introduces advanced management concepts and training mechanisms, and strives to build a high-standard, high-performance organization, which can provide agents with multi-dimensional career growth space and self-realization platform, allowing more outstanding talents to be willing to make life insurance a lifelong career.

Xinhua Insurance ‘s XIN Generation Plan aims at 10,000-person IDA Life Insurance Company. 2024 is the foundation year for version 1.0 to strengthen the foundation, and is the unification and hierarchical trial of standards;2025 is the year for version 2.0 to improve the quality and efficiency, which is the guidance and comprehensive roll-out of standards;2026 is the year for version 3.0 to be stable and long-term, and it is a standard upgrade and upward breakthrough.

Data shows that in the first half of 2024, the 13-month continuation rate of Xinhua Insurance’s personal life insurance business reached 95%, and the 25-month continuation rate reached 85.6%, both far exceeding the industry average. The team transformation was recognized by the market.

Accompanying professional services provide customers with a better life

How to give the team more effective? This tests the management wisdom of Xinhua Insurance management.

Just as Xinhua Insurance management said at previous performance meetings, the insurance company’s business appears to be that each company’s sales team sells insurance products on the front line, but in fact it competes on the comprehensive competitive strength of each company behind it.

To promote agents to become professional planners, insurance companies need to have supporting support policies. They must not only empower agents with professionalism, but also open up various service resources such as health care to build a better learning platform and resource platform for agents.

Two months after the launch of Xinhua Insurance’s XIN Generation Plan, in September last year, the Full Life Cycle Planner (WLP) training plan followed. You can see the systematic logic and are closely linked.

Specifically, the Full Life Cycle Planner (WLP), Xinhua Insurance is a new development track centered on customer needs and planned for outstanding sales personnel under the framework of the XIN plan. WLP focuses on the full life cycle insurance protection of customers and their families. and financial needs, has an interdisciplinary and widely integrated knowledge structure, provides customers with considerate services in personal protection, health, elderly care, wealth management and children’s education, and provides high-net-worth people with full life cycle and full wealth cycle solutions.

The Full Life Cycle Planner (WLP) certification and empowerment system is committed to turning agents into cross-disciplinary and all-round service talents. The 5+N certification course covers multiple fields and focuses on practical training to support the team to systematically and continuously improve professional skills and create a bridge knowledge system that connects customer needs and product supply.

Through modular courses, practical simulations and expert guidance, Xinhua Insurance helps agents achieve all-round improvement from basic skills to professional capabilities. The courses bring together the essence of the industry, have an interdisciplinary and widely integrated knowledge structure, and are jointly created by internal and external expert teams to ensure the high quality and practicality of the course content. The training content includes multiple service scenarios such as insurance + health insurance + education insurance + pension, allowing agents to master theory while having the ability to respond to actual complex needs and grow into polygonal soldiers.

Career 5+N certifications include life insurance planners, pension planners, health planners, wealth planners, education planners, other certifications, etc. One end connects customers ‘needs in different fields, and the other end connects Xinhua Insurance’s high-quality insurance products and services, building a good resource platform for the sales team. The creation of a learning organization, coupled with upgrades and advances, can benefit insurance agents for life.

Under the WLP training system, qualified planners not only have professional knowledge in economics, finance and risk management, but also can provide professional advice on customers ‘asset allocation, wealth planning, health management, pension arrangements, as well as tax planning, family wealth inheritance and other needs. Suggestion and use accompanying professional services to achieve the win-win goal of meeting customer needs and mining customer value. In this process, planners ‘sense of self-realization and professional honor will also gradually increase.

Data shows that as of January 19, 2025, more than 150,000 people have signed up for 5+N certification training across all channels, and more than 60,000 people have signed up for internal and external services, of which 44,000 people have successfully passed the required certification courses.

By building a learning-oriented service-enabling organization, optimizing the training system, and enriching learning resources, Xinhua Insurance continues to improve the professionalism and professionalism of the company’s internal and external teams, creates a Xinhua professional iron army team, and also comprehensively upgrades marketing, products, customer service, etc. Various capabilities, build an efficient collaborative and effectively empowering service system, and create a service-enabling organization in which headquarters service organizations, middle and back office service front desk, office service agents, and agents serve customers. The revitalization of organizational vitality will surely be able to regain its previous market combat effectiveness.

As a life insurance company with total assets exceeding one trillion yuan and annual premiums exceeding 100 billion yuan, Xinhua Insurance has always adhered to the origin of life insurance, adhered to long-term doctrine, deeply cultivated the demand of the life insurance market, continuously optimized sales channels, and created a professional and high-quality sales team. Through a network of institutions and service across the country, it provides customers with products and services throughout the life cycle, with a solid and extensive customer base.

It is the unshirkable responsibility of life insurance companies to promote the construction of a financial power and serve the overall situation of China’s modernization. Xinhua Insurance management also clearly stated that we must understand strategies, optimize services, grasp reform, activate forces, practice internal skills, strengthen investment, and take on responsibilities in integrating into the overall situation., improve quality and efficiency while seeking progress while maintaining stability, do a deep and practical job in finance, serve the main force of the national strategy, and protect the people’s yearning for a better life.