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1、Human Capital in China Insurance Industry Dominic Leung Chairman and CEO, Ping An Insurance, P. R. China 12thJuly, 2005 This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written
2、 approval from Ping An of China. This Material was used by Ping An during an oral presentation 1 Industry environment in China Challenge to Human capital Agenda of HR change management in Ping An Content: 2 Industry environment in China Competition entities are expanding dramatically Operation of in
3、surance company is becoming more international The average market growth has been over 30% since 1980 158.756 210.804 305.456 388.04 431.813 130 180 230 280 330 380 430 20002001200220032004 premium income premium income - Premium income Billion 32 4141 61 68 13 20 21 32 34 19 21 20 29 34 0 15 30 45
4、60 20002001200220032004 32 4141 61 68 13 20 21 32 34 19 21 20 29 34 0 15 30 45 60 20002001200220032004 totaltotal domesticdomestic foreign-investedforeign-invested - number of insurance company 3 Industry environment in China (continued) Human capital as sources of productivity growth for the whole
5、industry (Take life insurance for example) 1050000 1290000 1430000 1500000 800000 900000 1000000 1100000 1200000 1300000 1400000 1500000 1600000 2001200220032004 Insurance agent number - Employee number 62632 79920 111265 127196 50000 60000 70000 80000 90000 100000 110000 120000 130000 2000200120022
6、003 employee number - Insurance agent 4 Challenge to Human capital A talent war in China insurance industry In shortage of a professional workforce capable of - driving sales faster than the competition - managing multiple distribution channels - providing exceptional customer service - ensuring hig
7、h levels of operational efficiency - managing risk and complying with industry regulation. Intensive competition result in three main challenges to Human capital - The gap between talent supply and demand Serious in need of Actuaries Certified Risk Manager IT specialist creative and risk taking entr
8、epreneur High-level manager ,with international background, know well insurance marketing Experience trainer 、underwriter Well-informed and cross functional insurance agent - Many companies are relying on buying ready-made talent while the supply gap is existing. Talent cost increasing significantly
9、 Investment specialist 5 Agenda of HR change management in Ping An Since Ping An has been regarded as the talent tank of china insurance industry, we are seriously confronted with Human capital challenges: Ping An has utilized short-term and long-term change approaches, aligning our human capital ag
10、enda to our business agenda and strategy In short-term In short-term, retaining good performers and win talent war In long-term term, creating and maintaining professional workforce Retain good performers Win the war for talent Learning & Development opportunities Culture value Incentive salary syst
11、em: defer payment stock option variable pay goal approaches 6 Agenda of HR change management in Ping An(continued) Once talent supply gap identified according to business strategy , Ping An has launched talent pool project, as a long-term change approach. Talent pooling Creating and Maintaining a pr
12、ofessional workforce Talent Development succession planning In long-term identify talent gap through HR planning selected and identified by line managers competence evaluation on job training formal train program provided by Ping An university project assignment design individual career path provide mentoring support objective performance assessment 7 Thank You!
