An International Comparison Research On The Development Of Bancassurance In China

As the increasing tendency of integrated, unrestricted and competitive finance, the three posts in finance industry (bank, security and insurance) are more and more cooperating and infiltrating through each other, in which bancassurance (a newly created word from France) is developing faster and faster. According to the promise we made when we joined WTO, our government will speed up to open our finance market (including bank, insurance and security markets) and cancel the long term protection polity for national finance organizations from 2005. This is a big challenge for national finance organizations which have been used to hiding under the "protection umbrella" of our government. If these finance organizations want to be active in international and national competitive finance market, they must change their mentality and adapt to the tendency of integrated finance existed in international market. Besides, developing bancassurance is also a solution to the difficulties faced by banks and problems found in life insurance marketing system, a best choice to face the challenges from strong foreign finance organizations and an increase of national and international competition for our own banks and life insurance companies.The author has read and used for reference a lot of research results from Chinese and foreign scholars. And then after visiting many banks and life insurance companies who have cooperated with each other already, the author found there are really a lot of issues in our development of bancassurance. The issues are the factors to stop us from developing. And then after analysis and demonstration, the author selected this topic to be discussed.This article started from the introduction of backgrounds and meanings for this topic. Firstly emphasized the theory of the concept of bancassurance, such as, analyzed and concluded the concepts from different Chinese and foreign scholars, and then put forward the exact one bymyself, concluded and evaluated three kinds of bancassurance patterns according to finance infiltrating patterns. Secondly, the author selected France as an example to compare with us on the development of bancassurance: the developing process, fmance policy, the difficult situations of banks, the marketing system of life insurance, managing patterns, life insurance products and characters, managing vision, sales promotion methods and so on. After the comparison, we knew the weak points of our bancassurance. Then in the end, the author put forward proposals on how to develop our bancassurance well based on our present situations and the lessons we have learned from French bancassurance. The author mainly focused on two points: we should develop and enrich our managing patterns of bancassurance step by step; We should promote the further development of bancassurance by understanding, carrying out the right and looking for opportunities to create new products through scientific methods.