Research On The Choice Of Cooperation Model Of China’s Bancassurance

Since1990s, the bancassurance has developed more than ten years in our country. With the scale constantly expanding, the bancassnrance has become one of the three pillars of China’s insurance market. In recent years, the deeper issues of bancassurance highlighted as the internal and external factors, arousing widespread social concern. Therefore, the topic of the futural cooperation model of bancassurance is discussed widely and deeply, expecting to explore a suitable cooperation model of bancassurance in China.This article is divided into seven chapters, main content as follows:The first chapter is the introduction part. In this chapter, it briefly introduces the background, the purpose and significance of the topic. It also introduces the research methods and literature review of this paper. Most importantly, it reveals the structure of this paper, and points out innovation and deficiency.The second chapter makes a brief introduction to bancassurance and the cooperation model of bancassurance. First, it explains the basic definition of bancassuance from two aspects. It summarizes the connotation and extension of the cooperation model of bancassurance. There are four cooperation models of bancassurance, including bank agent model, strategic partner model, joint capital company model and financial holding company model. Then it compares and analyzes the advantages and disadvantages of these cooperation models. At last, it puts forward relevant theories-scale economy, scope economy and synergistic effect, and expounds the realistic development of bancassurance.The third chapter studies cooperation model of bancassurance in overseas countries and regions. First, it reviews the development of bancassurance in these countries and regions and learn their experience. Some of them are developed in finance industry, bancassurance started early in these countries and regions and they have much experience. Some are similar with China in culture and are close to China in location geographically. Through the analysis, we can sum up key elements in the development of bancassurance, including financial regulatory system and tax environment.The fourth chapter makes an analysis on the development and current situation of bancassurance in China. Based on the analysis, it summarizes the development process of cooperation model of bancassurance in China. Then it introduces the current situation of cooperation model of bancassruance in China and finds that the main current cooperation model is bank agent model, joint capital company are small in number, and financial holding company model has begun to immerge. Then it summarizes existing problems in cooperation model of bancassurance, and excavates reasons which lead to existing problems. And it discovers that the separate operation and separate supervision system, lack of tax policy have caused a certain degree of limit to the development of bancassurance.The fifth chapter takes PingAn as a case as financial holding company model. It’s found that under the model of financial holding company, bancassurance of PingAn rises quickly, which fully demonstrates and confirms that financial holding company model can bring great economic benefits. It takes PingAn as example, analyzes the advantages and disadvantages of financial holding company model and discusses if PingAn model can be replicated. It is found that although financial holding company model has unique advantages in bancassurance, it has its own limitations and it’s difficult to be replicated in large scale.The sixth chapter carries on the choice of cooperation model of bancassurance in China. After an analysis on the specific condition of China, including policy factors, market factors, technic factors and financial environment, it discusses two possible pathes of financial holding company model and bancassurance specialization. On one handm it introduces the unique advantages of financial holding company model in financial system, risk management, product innovation, cultural fusion and personnel training. Also, its limitation and applicability are included. On the other hand, it introduces advantages, disadvantages and applicability of bancassurance specialization. Then it puts forward the path of combination of financial holding company model and bancassurance specialization. For those large enterprises which are suitable, we can encourage them to form financial holding companies in the future. For those which don’t meet the conditions for financial holding company, they can make efforts to reform to bancassurance specialization.The seventh chapter puts forward suggestions for future development of bancassurance in China. The insurance companies and commercial banks should deepen and strengthen cooperation in product design, marketing strategy, aftersale service, persoonel training and technical innovation. The policy department should speed up the establishment of tax policy to promote the development of bancassurance. And national regulators should improve the regulatory system.