The Study On Creative Ability Of Bancassurance Products In China

Along with the development of global economic and the change of market environment, bancassurance which is a new kind relationship between bank and insurance industry came up. In the last thirty years, bancassurance has been changed a lot. Bancassurance brings not only energy but also challenge to the world's finance industry.Bancassurance is still at a low level in China. The limited categories and improper structure of bancassurance product are the most important problems to be solved. Product means everything to enterprises. Bancassurance product is the crucial factor to the sustainable development of bancassurance industry. The author tries to find the existing problems and how to solve them in the development of bancassurance in China.This study includes four parts as the following.The first chapter summarized some related concepts of bancassurance, which is the foundation of the whole paper containing 3 pars. The first part was about the motive factor of the development of bancassurance. The author summarized the existing different definition of bancassurance into 4 categories. Finally, the nature of bancassurance came out, which is the merge of two different finance services in all fields. Bank of Insurance Corporation, which to be the main actor in bancassurance depends on the history background and development level in every country. The second part introduced the foundation of the theory of bancassurance value creation from the view of scale-economic and finance function. The Third part talked about the 5 crucial factors of the success of bancassurance. They are distribution sale system, product design, sale style, brand strategy and IT system.To take advantage of the experience of creating new bancassurance product in foreign countires, the second chapter introduced the experience of creating new bancassurance product in foreign countires. The first part was about the history of bancassurance product and the introduction of main products. The second and third part introduced bancassurance product in Europe and Asia. The bancassurance itself is the result of creation. Only follow the market immediately can attain bigger development. The creation gets more attention in bancassurance well-developed countries. Despite of different environment and developed level of bancassurance in different countries, some successful experience can be taken.The third chapter discussed the main problems in the development of bancassurance in China. The first pars introduced the development of bancassurance from the view of life insurance and property insurance. In 1980s, the bancassurance has come into the exploring phase. In 2000, bancassurance in China developed rapidly. Every phase in the development of bancassurance was related to the bancassurance product creation. The second part analyzed the fluctuation of the sale volume of bancassurance product, which indicates that bancassurance is not mature in China and the cooperation between bank and Insurance Corporation is not solid. In this paper ,the root of fluctuation was discussed from the view of tax policy, the development of bank product, the development of fund and so on. Several cases were analyzed in the third part and then the existing problems were introduced in the forth part. Most bancassurance products are almost the same. Insurance Corporation lack creating motivates. The entire above limit the development of bancassurance in China.In the forth chapter, which is also the most important part, the author discussed the direction of bancassurance product creation from the view of new finance environment. In the second part, the direction was discussed in detail. Different bancassurance products should be designed to different clients. More complicated finance product should be developed to personal bank clients. At last, information declaration system should be improved.In the last 20 years, bancassurance industry developed rapidly and attained a lot of accomplishments, but there still are many problems need discussion. From the summarization of literatures, we can find that there is little systematic research on bancassurance products, especially in the field of creation direction. The creative part of this paper is that how to create new bancassurance product has been discussed. Take the advantage of the creation experience in foreign countries, the essay summarized existing problems in China and studied characteristics of bank as a new kind of sale channel. The author wishes to improve the development of bancassurance product by analyzing the policy, culture and economic environment.