| The life insurers in Sichuan have begun to seek after cooperation with local banks since 2001. And after 5 years' development, a Bancassurance market that 16 life insurers are involved has been formed. Nowadays, the Bancassurance has become the third biggest channel of premium-earned for the life insurers in Sichuan, which plays a great part in the development of the whole life insurance industry In Sichuan. However, against the speedy development of the Bancassurance, such problems as the agent commission is higher, the product is unitary, misguidance exists in distribution etc. have not been better solved. At present, the policy relaxation for "divided profession management" of finance makes for the further innovation of the Bancassurance model. And hence it is urgent to explore how to grasp the chance to shift the Bancassurance into deep-level model. This paper, based on the status quo of the Bancassurance in Sichuan, discusses the problems of Bancassurance in question, and puts forward some favorable suggestions for the development of Bancassurance in Sichuan.In the Introduction, it introduces briefly the research purpose and significance, the basic idea and research methods of the whole paper, generalizes the origin and definition of Bancassurance, and at last runs back to the development history of domestic Bancassurance.The paper is organized in four chapters.In ChapterⅠ, it presents the development process of the Bancassurance in Sichuan, and pictures the status quo from aspects of premium income, market subject, organizational structures, product structure, and distribution mode etc.. Till now, there are 16 life insurance companies in Sichuan in total. In 2005, the premium earned from Bancassurance is RMB 4.274 billion, which accounts for 31.36% of the gross premium income for the whole life insurers in Sichuan. The Bancassurance cooperation for in Sichuan gives priority to participating insurance, and takes"counter distribution"as the unitary distribution mode.In ChapterⅡ, for the challenges the Bancassurance in Sichuan facing, it discusses four important problems, that is, frail cooperation relationships, higher agent commission, product structure, unitary product distribution means and misleading risk. The four problems disturb the market order of Bancassurance, and goes against the healthy and continuous development of life insurance in Sichuan. To solve the above problems, it must improve the Bancassurance agreement agent mode, and impels it into further development.In ChapterⅢ, it reviews the Bancassurance development in Europe and other Asian countries and areas, and introduces advanced experiences for the Bancassurance development in Sichuan.In ChapterⅣ, it focuses on the policy relaxation of Bancassurance at present, and brings forward suggestions for the Bancassurance development in Sichuan. Some scholars say that there are four key factors deciding the success of Bancassurance: the bank's brand, culture diversity, channel integration and IT technology. According to Swiss Re, there are four Bancassurance cooperation modes: Distribution Agreements,Strategic Alliances,Joint Ventures and Financial Service Group. This paper presents the above theories. With the trade of "integrated profession management" in finance, the China Bank Regulatory Commission and the China Insurance Regulatory Commission affirm that the bank and the insurer hold shares each other, which makes for the establishment of Strategic Alliances,Joint Ventures and Financial Service Group. To transform the Bancassurance in Sichuan from Distribution Agreements to Strategic Alliances, it must strive to adjust the product structure, establish a new product development mechanism, explore new distribution channel, enhance the customer service, improve the incentive and training systems, integrate the technology system, reinforce the interior control, strengthen insurance supervision and the insurers' self-regulation etc.. |
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