[Editor’s Note] In order to further enhance the w88 casino’s brand image and demonstrate the w88 casino’s characteristics and effectiveness, w88 casino and the People’s Daily Online Education Channel have launched a program12A series of interviews with deans of undergraduate colleges on “w88 casino Professional Talent Training and Students’ Employment Prospects”。
Recently, Professor Sun Jian, Dean of the w88 casino of Insurance of w88 casino, came to the live broadcast room of People's Daily Online (Website:), interpreting the "Several Opinions on Accelerating the Development of Modern Insurance Service Industry" issued by the State Council to netizens, introducing the w88 casino's insurance specialty majors, teaching models and employment prospects, etc. Sun Jian pointed out that the issuance of the "Ten Articles of the New Country" will "usher the insurance industry into a golden period of development in the next ten years." The w88 casino trains elite talents at the top of the industry and "has integrated employment into the entire process of student talent training."
The following is the text record:
Interpretation of the "Ten Articles of the New Country"
Host：孙院长是从事保险学院的教学，在保险行业前一段发生大的动向，国务院发布了《关于加快发展现代保险服务业的若干意见》，这个《意见》一推出，它对整个行业带来怎样的影响？
Sun Jian: We call this the "New Country Ten Points" for short. The "New Country Ten Points" equals a repositioning of the insurance industry. Repositioning the insurance industry in supporting economic development and serving society will require major adjustments to the future development of the insurance industry, both in terms of talent demand and the industry's development strategy.
Host: You just emphasized repositioning. What was our previous development like? What is the goal of this repositioning?
Sun Jian: In the past development, there is actually a common problem in the financial industry. For example, if a person works in the banking industry, the whole family is busy giving him deposits. For example, if a person works in a securities company, many people have to go to the securities company to open an account. In other words, if a person works in an insurance company, many people will buy insurance with him. Of course, this problem may be justified from a marketing perspective only, but from a long-term company development perspective, this is not appropriate.
Moderator: It seems like marketing for marketing’s sake.
Sun Jian: Yes, it seems that when it comes to insurance, people think they sell insurance. In fact, this is a deviation in the company's business strategy. The new "National Ten Articles" position the insurance industry so that the future development of the insurance industry will no longer be in this form and truly reflect the role of insurance as risk management. In other words, it is not just about selling insurance products, but also about customizing a complete set of risk management solutions for customers.
Moderator: We have rewritten the previous understanding and saying of promoting insurance and deposits, so this time we proposed to transform into a modern insurance service industry. How should we understand the modern insurance service industry?
Sun Jian: Two aspects: One aspect shows that the insurance industry must reposition itself for social development, social services, and economic services. On the other hand, it has put forward higher requirements for students, which means it has put forward higher requirements for talents, or its employees. From the perspective of w88 casino’s training, higher requirements have been put forward from the perspective of w88 casino student training.
Three special insurance majors of the University of International w88:Insurance and risk management, actuarial science, labor and social security
Moderator: This is a new requirement for talent training. How to deal with these new requirements?
Sun Jian: The characteristic of w88 casino is internationalization. Internationalization In fact, from a certain perspective, the training of our students is in line with international standards, which means that our talents for the development of China's modern insurance industry have been trained in advance to be in line with international standards, so our students are fully able to adapt to the service requirements of the transition of the insurance industry.
Moderator: You just mentioned a keyword: be prepared in advance. What kind of situation is it in advance and what preparations have been made in advance? Let us first give us a comprehensive introduction from the composition of the departments.
Sun Jian: The w88 casino of Insurance of the w88 casino has three majors: insurance and risk management, actuarial science, and labor and social security. If I say this, you may find it quite complicated. First of all, we are engaged in risk management, which is a very important prerequisite. Under the premise of risk management, insurance deals with high-probability events. The first is risk aggregation, and then we carry out risk transformation and gather the risks of many people to us. When someone is at risk, we solve it for them. This is what we are supposed to do.
There are two major aspects of risk management, one is commercial and the other is government. The government is the social security fund, and the social security fund is organically integrated with the labor and social security professions. If it is commercial insurance, it is what we usually call insurance. The characteristic of insurance is that whether it is the social security fund or the premium amount, it must maintain and increase its value. We know that the time it takes for us to make a deposit in a bank, or for you to get a loan from a bank, is not very long. Three to five years is a long time, and a short time can be a few months, one year, or two years. However, the income and base of premiums in the insurance industry take a very long time. The short time is three to five years, and the long time is up to thirty or fifty years. The matching of funds for such a long period of time requires very rigorous quantitative allocation. This is another problem that our professional actuarial department has to solve.
Our professional setup basically focuses on risk management, long-term risk management, short-term risk management, and mid-term risk management. It can not only solve the calculation of customers' future risks when they occur, but also enable the preservation and appreciation of their assets in our company. This is also a very important aspect of the future development of the insurance industry towards a large service provider or a large financial planner, which we call large asset management.
Cultivate elite talents at the topEmployment is integrated into the student talent training process
Moderator: In the era of big asset management, it is indeed a very popular focus now. You just mentioned risk management, which means taking good care of people's money bags. What are the employment prospects for insurance majors?
Sun Jian: The current employment situation of the college. We have undergraduates, masters, and doctoral students. Our ratio is probably such that almost 100% of the students who graduate from undergraduates go to the financial industry. For students who have graduated with a master's degree, we probably have close90%In the financial industry. For undergraduate students, we probably have80%The finance industry includes banks, insurance, securities, funds, trusts, asset management companies, financial management companies, loan management companies and their intermediaries. Most of them go to these places. But our students have one characteristic. One characteristic is that most of them go to the financial industry. Another characteristic is that they rarely become civil servants. This is different from most schools in China. There are about 100 students in w88 casino every year1%, only1%people become civil servants.
Moderator: What does this phenomenon mean?
Sun Jian: It shows that our major is in line with international standards. In a developed market economy country, the best talent is to do business, not to be a civil servant.
Moderator: You have repeatedly stressed that it is internationalization. What is the setting up of international exchanges in w88 casino?
Sun Jian: Our college was linked to employment just now. Employment For us students, we never consider employment. Why? Because our students have never had a problem finding employment. First, the students w88 casino recruits are the best in China. Our undergraduate admissions scores rank among the top ten in the country. The students we recruit with high scores are all majors like ours. Therefore, we select the best students from the best. This is one aspect. First of all, we have good talents and good embryos.
In addition, we train students according to international standards. For students trained to international standards, employment is very simple for us. We hardly worry about employment. One-third of our undergraduate students who graduate in one year study abroad, one-third study in China, and one-third are employed. This is the proportion we have initially achieved. The proportion we want to achieve in the next three years is4：4：2，40%Go abroad to further your studies, improve and study,40%Studying as a graduate student in the country, only20%Employment. We graduated in less than a year200We graduate approximately one hundred and dozens of undergraduates, one hundred and dozens of masters, and doctoral students every year. Employment is not a stressful issue for our college.
Moderator: What is the concept of market demand among more than one hundred graduates?
Sun Jian: More than one hundred graduates, two-thirds do not enter the market, only one-third, dozens of students enter the market. On average, there is one in each province, probably our students, undergraduates70%Most of them stay in Beijing. If you divide it further, there is probably no province, city, or autonomous region. Therefore, if our students return to their places of origin, the employment units will be very good. However, there may be more opportunities in Beijing, so most students have stayed in Beijing. Of course, the institutions in Beijing are not bad, and our students earn an average ofOfferThere are about three.
Moderator: Every time when we graduate, we say that it is the most difficult employment season in history. Students in w88 casino are in this situation.
Sun Jian: Yes, we say at every summary meeting that we don’t feel that employment is serious. This is the case every year. And it seems that the jobs that students find every year are better this year than last year. This is the case.
Host: This phenomenon seems to prove the demand for talents in the insurance industry from another aspect. This ratio is a manifestation.
Sun Jian: Yes. Because the development of the insurance industry in China is still in its infancy, because its insurance industry accounts for assets, including its sales and total amount, are very low, which is far from meeting the development requirements of modern China's market economy. Recently, I saw statistics on employment rates online, and insurance ranked first and was the best. On the one hand, there may be more social needs, and on the other hand, we may have less training.
Moderator: From a student's perspective, it may be a good thing to have a wider range of career options, but do we have longer-term plans for industry development?
Sun Jian: Our positioning is to cultivate elite talents. If this industry develops in the future and requires ordinary talents, they will be provided by other schools. We provide elite talents. The students we train are broad-minded, complex, and international, elite talents who can truly stand at the forefront of the industry and adapt to social development. This is w88 casino's positioning for students.
Moderator: We train those elite talents at the top of the tower.
Sun Jian: That’s right. Our internationalization situation is as follows: our college has cooperation with foreign countries2+2Project, and more3+2Project,2+2The project is two undergraduate degrees,3+2The project is an undergraduate degree and a master's degree. We have many very good partner schools in major countries in the world, from the United States to Europe, Australia, and Canada. Our graduates are admitted to graduate schools in world-famous universities every year30digits can be reached40%About.
Our students who graduated this year went to good schools. Maybe the host knows it well, some of them are in the United StatesMIT, that is, MIT, Columbia, Duke, Caltech, Los Angeles, etc. in the United States, Oxford, Cambridge, etc. in the United Kingdom, these are all our students, almost one-third of us every year,40%students go there to study.
Host: This may also show that our students do have their own uniqueness and characteristics. Do we focus on this in our teaching methods?
Sun Jian: Yes. When we recruited teachers in the past, first, we recruited subject leaders, and second, we recruited Ph.D. graduates from excellent universities. There are requirements. Domestic graduates must have one year of joint training experience abroad, and they must also have published papers. It is required that courses must be conducted in English. In recent years, we have recruited fewer and fewer doctors in China. We basically recruit students who have graduated from international famous brands. Our requirement for them is to teach in English. You can communicate with students in Chinese, but the class must be in English. Our students' English is very good. And in the process of cultivating students' internationalization, our students are international. Why do I say that our student training is international, because we are in line with international standards. Our students are taught in English and take English exams. w88 casino has a comprehensive cooperation agreement with the British Institute of Actuaries. This agreement is this year5month8It was signed by our principal and the chairman of the British Institute of Actuaries on Japan. This is the first of its kind in China. Accredited by the Institute of ActuariesCT1ToCT8's exam-free course for our students. After this course is exempted from the exam, if our students graduate and have one year of work experience, they will take another exam calledCEE’s course, our students are quasi-actuaries. Then, this course is also recognized by international risk managers. After our students graduate, if they have one year of work experience and pass three more exams, they can obtain the international risk manager qualification.
Host: Please introduce the value of the risk manager qualification or what position it occupies in the industry?
Sun Jian: After obtaining the qualification of an accountant, the starting annual salary is50Ten thousand. Now the China Securities Regulatory Commission requires that not only the headquarters of the insurance company must be equipped with risk managers, but also the branches must have risk management leaders. The boss of the insurance company told us, when will you train them for me? I said that now an undergraduate can get exemption from the eight exams. In two years, after passing the nine exams, he will be a risk manager. After the graduate students are trained in the future, After that, all courses are exempt from examinations. As long as you have one year of work experience, you can become an actuary. This is our future professional development. I can provide you with the excellent talents and professional talents you need. Because ours is, I went to Taiwan for a meeting, and no one in Taiwan was recognized. We are the first in China to be recognized, and the first to be exempted from all eight exams. This year I visited the University of Manchester in the UK. The University of Manchester is ranked among the top ten in the UK. It is only7Door, the British Institute of Actuaries only recognizes itCT1ToCT7, we areCT1ToCT8。
Host: It’s not just recognition, but the degree of recognition is reflected in the middle. Where do you think the core strength of being recognized is?
Sun Jian: It is our top students who pique their interest. We have very outstanding students studying at the University of Manchester, Cambridge, etc., when the British Institute of Actuaries knew about this, they asked where such outstanding students came from, and said they came from the w88 casino in China. The British Institute of Actuaries came to Beijing from the UK to find us. He believed that the level of the students we trained could fully meet his requirements, so he took the lead in giving us a certification, which is such a process. Our students are trained according to international standards and according to international requirements. Our teachers also have this ability, because our recruitment requirements for teachers are also very high, and they must have this ability. Therefore, from another perspective, our students have no problem finding employment.
Moderator: This forms a virtuous cycle, from our source to our students to the influence and reputation left in society.
Sun Jian: In other words, we integrate students’ employment into our training process, and when students graduate, we don’t need to care about employment.
Moderator: This is so critical, and now it coincides with the current situation that many people say that you will be unemployed as soon as you graduate. How can we integrate the suggestions you just mentioned into our teaching process? What are the main points we should grasp in this process?
Sun Jian: This point has several aspects, but there are many prerequisites. First, our students are excellent. Second, our teachers are excellent. You have to adapt to the needs of society and meet the international requirements for your students, and your teachers must teach things.
Host: How do we evaluate teachers and select outstanding teachers?
Sun Jian: w88 casino is one of the most rigorous schools in China. Scientific research assessments are conducted every year. I think university teachers must do scientific research. If you don’t do research, it won’t support you to attend classes well. Therefore, the teachers we require must be organically linked with scientific research and teaching. To put it simply, for example, when evaluating professional titles, w88 casino has a rule. If you don’t meet the rule, you won’t be allowed to register. It’s a strict card. If you are not rated as an associate professor for six years, you will be dismissed. This is a requirement for teachers. w88 casino starts from200940249_40258
Moderator: Introduce this strict system and implement it according to this strict system.
Sun Jian: Without good teachers, there will be no good students. If you don’t have students who meet the market demand, students will definitely become unemployed as soon as they graduate. After our students graduate, I don’t need to worry about them. Many companies want people from us, and I don’t know where our people are going. The last thing I got was a student’s employment summary in my hands.
Moderator: I feel very happy.
Sun Jian: Yes. When we admitted students five years ago, their parents would think, "Why did you get transferred to this major if you didn't choose your major?" The w88 casino has a rule that the first part is public courses, and you can change your major after one to two years. At that time, insurance was like this, and many students would choose to switch. It was still the same five years ago. But in the past three years, no one has raised this question again. It means that students can come to our college to study. If they find it difficult to get in, they should cherish this opportunity. No one has ever raised such a question again. In the past, our opening ceremony was attended by parents together. After students entered w88 casino, parents and students raised questionsNMany questions. There have been no problems in the past three years, so I won’t mention them again. The w88 casino is very relaxed. If students feel that this major is not suitable after one or two years, they can transfer at any time. Students who have never transferred to our college in the past few years.三年前，有学生开始转入我们学院。 The impact of insurance on society is no longer purely about selling insurance, and awareness has begun to change. The “National Ten Articles” also happened to reposition the insurance industry. In fact, the students we train are compound elite talents suitable for the development of the financial industry. In layman's terms, the students we train are not to sell insurance, but they need to understand.
Host: I can see that the opportunity we cultivate coincides with a major trend in the development of our country, but before the opportunity comes, we are well prepared and ahead of the curve.
Sun Jian: Because universities cultivate talents, they must be advanced in cultivating talents. You can't say that if society needs it, then it will be too late. This can also be adjusted according to society's needs, but that would be passive. You have to be proactive, because when you cultivate talents, education should be leading, and talents should be cultivated in advance to make your students forward-looking.
Moderator: Speaking of cultivating talents, you also mentioned just now that we have grasped a key link, which is our teaching staff. We are very strict. The teaching staff is a very critical link, but some excellent teachers are also very important in controlling the direction of teaching. You have just been saying that we are international and follow the market route, and the students we train will not worry about finding jobs because it is close to the market. In the teaching process, will we have more practice reflected in it, and through what path?
Sun Jian: We have signed strategic cooperation agreements and internship bases with almost all major insurance companies in China. There are probably hundreds of part-time professors hired by our college, only at the level of general manager, not counting associate professors. Basically, a general manager can take one or two students to solve students' employment problems. We never contact the human resources department below him. We directly contact the boss to find out how many students we have to intern with you. If they need ours, most students don't need ours. If he has this ability, he may not necessarily go to an insurance company. There is little time left for us to find the CEO of the insurance company.
The development of China’s insurance industry under the background of transformation
Moderator: This situation is really gratifying. We know that you participated in the 10th Beijing International Financial Expo last month2014The annual summit of China’s insurance industry. At this meeting, what new trends did you grasp in the industry? What are the opportunities and challenges for our students?
Sun Jian: The main issue discussed in this meeting is the development of China’s insurance industry under the background of transformation. It is actually the transformation of the insurance industry. To put it simply, this transformation has several aspects: actively serving the opening up to the outside world, escorting Chinese enterprises to go global, fully participating in people's livelihood security, and becoming an important pillar of social security. This is something that was not seen in the past and would not be said like this. Improving the economic compensation mechanism has become an important carrier of public services and social governance, which has given the insurance industry a high position. It is also very important to innovate the use of insurance funds and become an important driver of economic transformation and upgrading. You see, it has never been said in the past. Everyone thinks that as soon as it develops, it will only take bank loans and issue stocks in the stock market. In fact, there is a lot of money in insurance, and it can be invested in many directions. China Life has more than RMB 10 trillion, and there is plenty of money. The question is how the country will use it. There is also the need to strengthen the core functions of risk management and form a new insurance business format with risk management and fair claims settlement. Strengthen insurance asset management and move from big insurance to big asset management. This means that under the new conditions, there will be a very high requirement for the insurance industry. You also know that in the past, for example, people who graduated from junior high w88 casino sold insurance. For future development, to give an example, first, the insurance industry does not need so many people, that is, it does not need so many employees. We can sell online, and the cost of online sales is much lower. Now the most expensive thing is employees, and labor is expensive. Second, the future workers in the insurance industry that I train should not only understand insurance, but also understand all-round financial management.
Host: What you call a compound talent.
Sun Jian: Yes. New China Insurance recently made a product called Universal Financial Planner. To put it simply, for example, this person can be insured from birth, and can work during the insurance process. The first insurance is very simple. It doesn’t cost much, and your parents pay it for you. After they have money, their parents will do this for their whole life. Among them, the whole life cycle insurance and financial planning. When you make money, you don’t need to go to the bank. You just give it to me. I will allocate assets for you. I will tell you how to allocate, how to deposit, how to buy stocks, and how to allocate funds. Your money cannot go away. In the future, insurance companies must do this. The requirements for employees are very high, and it doesn’t just require you to graduate from junior high w88 casino. This requirement, in principle, requires at least a bachelor's degree. Those in finance and economics are okay, but those in non-finance and economics need comprehensive and systematic training to understand the principles and explain them clearly. Every customer is not a fool. If you don’t understand, why should I let you manage your finances?
Moderator: How to build my trust in you? Will this bring another challenge to our teaching?
Sun Jian: This has very high demands on teachers, and we have made adjustments throughout the teaching process. In fact, in layman's terms, it is easier to collect social security funds, because it is a government act, and it is done once you hand it in. Commercial insurance needs to push customers to buy it, as it was in the past. However, there is a large part of asset allocation, and this money must be transferred to the insurance company for asset allocation to maintain and increase value.
Moderator: Let’s see how you operate it?
Sun Jian: Yes, actually this thing is very important. For our current students, we have increased the training in this area. Our graduating students all know it, but they are not necessarily very good. Some students are very good. When our students graduate, they don’t go anywhere. They go to the asset management department of the insurance company. I can tell you how to do stocks and how to invest in bonds. Let me tell you, when the manager hears this, he will wonder how this student knows so much just after graduation. He understands it very well. Future employees in the insurance industry also have such requirements, and we have trained students in advance. Do students understand it? Understand. I say you must first understand how to allocate your parents’ assets if your family has money. Social needs are not just about buying insurance, not just collecting social security funds, you have to understand the entire process and how it is done, and then you will be a talent who can serve the society in a broad way. Therefore, most of our students did not go to insurance companies, but went to various financial institutions, and the most common ones were banks.
Moderator: In fact, you just said that our students have sufficient strength to cope with the needs of this social market. However, we know that China's economic development is changing very quickly. How can they grasp this big trend? It is easy to say that it is easy to make such asset management allocations, keep close to the market, and reasonably avoid risks, but to really do it well is based on your grasp and understanding of the entire market. How do we teach students in this regard to give them the learning ability to get close to and understand the market in a timely manner?
Sun Jian: The Ministry of Education has allocated more than 10 million yuan to w88 casino to build a financial and insurance laboratory, which is fully live and real-time, allowing students to carry out practical operations. There is also a boss who specially gives w88 casino a sum of money to allow students to engage in this operation. How to reward students when they make money is another matter. If you lose money, you will lose it. w88 casino has an entrepreneur who specifically sponsored such a sum of money for w88 casino. Of course, we first let the students use a demo account to do it, and then they do the actual operation. I will do this for you, you can make any configuration, you do it yourself, and finally you have to have actual experience. As a teacher, if you want to teach students, you must understand or have practical experience before you can teach it to students. The same is true for students. He has no practical experience and cannot be involved in actual work. If he wants to learn it, it will be too late, because this is a very basic thing.
The insurance industry is ushering in a stage of rapid development
Moderator: This is the link that constantly connects us to society and the market. This link plays a key role. We know that the development of the insurance industry is related to the entire social economy. What do you think of its future direction?
Sun Jian: The future development trend of the insurance industry has been pointed out to us by the National Ten Articles. It still has a lot of room for development. Until2020In the year, insurance depth and insurance density already gave a very high ratio. I also gave a speech at the summit forum a few days ago, and I also published a paper recently. I think that to achieve this goal, to2020The insurance industry must leapfrog and develop far beyondGDPGrowth rate, the development of the insurance industry in one year exceeds that25%, with this speed, you may be able to achieve the national goal. In fact, the goal given by the new "National Ten Articles" means that my country's insurance industry is developing very slowly. Although the speed is still very fast, because the base is relatively low, this is why our economy is developing slowly now. The important issue is that the base is large. When the base is low, it may be easier to develop quickly. After the base is large, it will be easier to develop at a higher speed.
Moderator: It is quite difficult to raise it to a certain level.
Sun Jian：Earnings in the insurance industry in one year20%, not difficult, but let the banking industry earn in a year20%, it is very difficult because the base number is already very large. This means that the country has given the insurance industry a very large space for development from a macro perspective. Just from an employment perspective or from other perspectives, this is a benefit for insurance students or future workers in the insurance industry.
Moderator: The insurance industry is entering a stage of rapid development.
Sun Jian: Yes, I think the next ten years will be the golden period for the future development of the insurance industry.
Host: China Insurance Regulatory Commission Chairman Xiang Junbo proposed to use the insurance mechanism to innovate the delivery of public services and improve the efficiency of governing the country according to law. How do you understand this statement?
Sun Jian: I may not understand it correctly, this is how I understand it. A society ruled by law should be a small government and a big society. Many problems should be solved through the law, society, and the market, not the government. There are many things that can be solved by insurance, such as catastrophes, serious illnesses, occupations, medical disputes, major problems in all aspects of society, etc. After the government supported the insurance industry, it solved the future of many people. Solving problems through insurance is the rule of law. By planning these things in the form of laws and contracts, we can also change the government's image and reduce its burden.
Moderator: A reasonable mechanism setting.
Sun Jian: Very important. With this thing, it is a law and regulation.
Moderator: Thank you very much to Dean Sun for sharing today. As Dean Sun said, the insurance industry is ushering in a period of rapid development. Students, are you ready?
That’s it for today’s program. Thank you for watching. Goodbye!
（Text editing Gong Feifei Morning Joy)
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