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Books > Social sciences > Sociology, social studies > Social institutions > Death & dying
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Marketing Death - Culture and the Making of a Life Insurance Market in China (Hardcover)
Loot Price: R1,540
Discovery Miles 15 400
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Marketing Death - Culture and the Making of a Life Insurance Market in China (Hardcover)
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When the topic of death is a taboo subject to a population, how can
life insurance companies create a market for their business? In
Marketing Death, Cheris Shun-ching Chan examines the development of
the life insurance market in China to address how culture impacts
economic practice. Based on an extensive ethnographic study of
various life insurance companies in China, Chan found a clear
disparity in the way transnational and domestic life insurers dealt
with local resistance to the idea of insuring against early death.
While the transnational insurers attempted to remove this
resistance by introducing new concepts about risk management, the
locally-founded insurers redefined these concepts as money
management to avoid the taboo subject. The domestic players'
strategies proved to be more effective, but conflicted with the
profit-oriented institutional logic of life insurance in the
Chinese context. Having learned a lesson from significant losses,
the domestic insurers eventually collaborated with their
transnational counterparts to create a risk-management market.
Nonetheless, local potential buyers, with their ingrained cultural
values, continue to negotiate with insurance providers about their
preferred product features. Chan argues that the life insurance
business is growing rapidly in China despite these incompatible
local cultural values largely because insurance practitioners
strategically mobilized the local cultural tool-kit to circumvent
the resistance. In Chan's account, the interplay of two forms of
culture-a shared meaning system on one hand and a repertoire of
strategies on the other-has significantly shaped the trajectory of
the emergent Chinese market. Marketing Death is the first book to
offer an analysis of the emergence of a life insurance market
outside of the Euro-American context. It documents the processes
and politics by which local cultures shape the way a market is
formed and, hence, sheds light on the dynamics through which modern
capitalist enterprises diffuse to regions with different cultural
traditions.
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