Datong Wins the Laurel Award for '2010 Insurance Agent with the Most Investment Value'

Mar 29, 2011, 08:00 ET from Datong Insurance Sales & Services Co., Ltd.

BEIJING, March 29, 2011 /PRNewswire-Asia/ -- On 4th March, 2011, the "Top 2010 China Insurance Industry Awards" disclosed its results. The sole laurel for professional insurance agent - "2010 Insurance Agent with the Most Investment Value" - was exclusively won by Datong Insurance Sales & Services Co., Ltd., as China's first national insurance sales & services organization.

Since Datong didn't declare its participation in appraisal process, the prize of Datong Group was nominated by experts. Datong was very surprised when it won the laurel and knew that it had gotten consistent favorable comments from the jury and was elected to be the sole "Annual Insurance Agent with the Most Investment Value" in China's insurance industry by a high turnout.

As a cutting-edge insurance agent enterprise which hasn't been established for long, Datong quickly presented itself as a leading enterprise in the professional agent market within less than two years. Till the end of 2010, Datong has expanded its network of insurance sales and services to 16 provinces and over 120 prefectures, cities or counties in China. It has established an honest, professional and highly efficient sales team with almost 10 thousand employees and has created the "Datong's Speed," which astonished the whole industry. In 2010, Datong has achieved over RMB320 million in the regular premium life insurance business and RMB250 million in operating income.

Since its establishment, Datong has taken the sale of regular life insurance products which have the most business value as its main business scope, and over 95% of its business is the high-valued life insurance with long-term payments. The future profit of the company will be snowballed by gradually expanding renewal business year by year. In 2010, which is its second business year, it has achieved a net profit of more than RMB20 million. This achievement has broken the "unbreakable law" of profit cycles for insurance enterprises and sets a new record of professional insurance agents. In the meanwhile, branches of Datong have made great increases in input-output levels and operating profits, as well as achieving breakthroughs in key markets, particularly ranking first in intensely competitive key areas of insurance, like Beijing, Shanghai and Guangdong. It also becomes the enterprise with the largest scale of new sales of regular life insurance business among Chinese insurance agents. Also, based on the enhancement of personal sale and service modes, Datong has explored and established service models like "channel marketing" and "interactive marketing", so as to meet the insurance requirements of consumers better by all-around channels and services. It is thus clear that the advanced commercial profit model, development model of highly efficient teams and innovative multiple channel sales are Datong's secret to leading the industry.

In the conclusion of 2010 Report on Insurance Agent Market of the Third Quarter, the China Insurance Regulatory Commission granted full recognition to Datong Insurance Group led by Lin Keping without any reservation: "In 7 successive quarters, which means from January 2009 to September 2010, both the new sale of regular premium and operating income of Datong has kept a quarter-on-quarter growth of over 60%." In September 2010, per capita capacity of Datong Insurance Group reached RMB 26,963, which is two times over the per capita capacity of domestic insurance companies in the corresponding period.

The great growth curve and good performance indicators show the favorable growth tendency of Datong, the enterprise specialized in financial retail and high-end services. Therefore, the PE with keen capital perception and unique view of investment all think highly of Datong. It is well-reasoned for Datong to get verification of capital markets and win the favor of top international equity investment funds.

The prize presentation introduced Datong as follows: "It's the lifelong career target of agents to establish a financial insurance supermarket for the masses. Since August 2008, as the first limited company of insurance sales and services, its establishment has made this word widespread in the insurance industry, numerous insurance salesmen and even millions of the general public. It is easy to see that Datong pays great attention to the construction of enterprise cultural principles, which includes its interpretation and undertaking of social responsibility."

In the rising tendency of salesmen administrative system reform in 2010, Datong has carried out bold innovations in sales models and systems, obtained great outcome and won high appraisal of regulatory authorities which said its model and manner just conformed to their favorite direction of sales system reforms and has enlightened the thought of the entire industry. Therefore, Datong has laid solid foundation for its leading position in this industry.

SOURCE Datong Insurance Sales & Services Co., Ltd.