BuildingProfessionalismTHENEXTSTEPFORLIFEINSURANCEINCHINATHEBOSTONCONSULTINGGROUPBCGASENIORMANAGEMENTPERSPECTIVEPREFACEBUILDINGPROFESSIONALISM:TheNextStepforLifeInsuranceinChinaPAGE6Withapopulationof1.3billionpeopleandasteadilydevelopingglobaleconomy,Chinahasthepotentialtobecomethelargestlifeinsurancemarketintheworld.Thispossibilityhasbeenclearlyrecognizedbothbylocalplayersandbypowerfulinternationalinsurers,manyofwhichhavesetupjointventureswithChineseinsurersoracquiredminorityequitystakes.Thepathtosuccesswillnotbeeasyforeitherdomesticorforeigninsurers.TheChinesegovernmenthasstrictcontrolsontheparticipationofforeignplayersandonthetypeofinvestmentsthatanyinsurerisabletomake.Chineseconsumers,longsubjectedtoagenerallypoorlevelofservicefrommanylocalinsurers,areincreasinglywary,demandingandselective.Theimprovementofthecustomerex