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. To Chinese insurance industry, it is the demand for domestic insurance companies to step out to the outside world to strengthen and develop themselves in the world insurance market. It is the duty that China should bear to open the insurance market while enjoying the rights a member of WTO can have. To sum up, general trend indicates such an opening. It is well on the way and certainly will bring great challenges to domestic companies. But it will also bring some opportunities, which help enhance the management level of domestic insurance companies. Foreign insurance companies run business in China’s market so that Chinese insurers can observe them closely absorbing their advanced management experience. It also helps domestic companies to broaden the thinking on the management and to deepen the understanding of the meaning of the management. 2.2 The Importance of HRM to Insurance Companies How important is HRM (Human Resources Management) to an insurance company? The management of human resources considers people as the key resource, subscribing to the notion that it is important to communicate well with employees, to involve them in what is going on and to foster their commitment and identification with the organization. In addition, a strategic approach to the acquisition, management and motivation of people is heavily emphasized. As we all know, the key competition in the market is the competition for talents. And any company should not ignore the training of talented staff. Especially to insurance companies, which are people-oriented companies, it is more necessary to pay due attention to the management of human resources. Insurance industry, the people-intensive industry and unlike airplane manufacturing or electronic industries, needs neither advanced and precise technology nor accurate instruments. All it needs is persons who have modern insurance marketing concepts. With the development of knowledge economy, those who possess professional insurance knowledge and skills have been treated as a kind of capital that can be disposed instead of labor forces. Human resources capital is characterized as taking high assessment cost, having limited life circles and individual asset control. As human resources capital of enterprises, it cannot be priced singly as a product. It should be priced far higher just as the price of the insurance experts and professionals concerned with a company’s business achievements has been very high in those countries that have developed advanced market economy. So human resources are most important and valued resources among the many resources of an insurance company. The management of human resources is always one important part of the management of a company. It is arduous work to cultivate professionals in an insurance company. The company not only needs talented people with high-level management capability, but also a large number of qualified sales people. For example, PICC, the biggest insurance company in China, has more than 4500 branches and over 10,000 employees around the country. In such a big company, it is of vital importance to set up good corporate culture and bring the spirit of teamwork into play so as to arouse every employee’s enthusiasm and creativity. The managers of the State-owned insurance companies should appoint people by merit and try to form joint power to develop the whole company. And the management of employee resourcing, planning, rewarding, training, etc. decides