China: Insurance salespersons are mostly female and aged 25-45
Source: Asia Insurance Review | Nov 2018
The profile of China’s 8m insurance salespersons can be summarised as ‘female’ and ‘young’ whose customer base comprises people close to them, according to the ‘2018 China Insurance Intermediary Market White Paper’.
According to the document, 71% of insurance salespersons in China are women; about half of the insurance salesmen earn less than CNY6,000 ($867) per month while only 9.2% earn more than CNY20,000 a month; and more than 80% of sales are generated from relatives or friends.
Nearly 80% of the insurance salespersons are aged 25-45. Four in 10 have at most junior college education while 22% are university graduates. More than 60% of them live in provincial capitals and municipalities.
In 2017, the number of new agents exceeded 4m, in a sector where the drop-out rate was 70%.
The white paper is based on 10,399 responses from the marketing teams of 35 insurance institutions in 85 cities in 25 provinces and municipalities across China. It was released by Peking University’s HSBC Risk Management and Insurance Research Centre and the Insurance Information Research and Development Centre of the Insurance Marketing Group. A