Study On The Countermeasures For The Development Of Bancassurance Business Of HX Life Insurance Liaoning Branch

Bancassurance was deriving from Europe since80’s,20th century and it has been a main development trend in international insurance industries through rapid development. Bancassurance services are also rapid expansion in Liaoning. All life insurance companies consider bancassurance as a main business development, thus pay close attention to it and bring forth increased competition now.HX Life Insurance Company Ltd. liaoning branch is an affiliated corporation setup by HX Life Insurance Company Ltd..It is the largest life insurance company in Liaoning with the largest market capitalization.The net point source, human resources are the first place in liaoning. The bancassurance of Life Insurance Company Ltd.liaoning branch is an epitome and typical representative of bancassurance development.In this paper, author introduced theory in bancassurance firstly, then analyzed the management system, product category, sales channels, urban markets, branding management of HX Life Insurance Company Ltd.liaoning branch. Author also emphasized several inadequacy of bancassurance based on market realities, such as insurance channel fragile relationships, lack of feature in insurance products, shortage of marketing professionals, non-standardized in agent commission fees, lack of effective motivating mechanism and information base. Finally, author proposed that HX Life Insurance Company Ltd.liaoning branch should embarked on the following step to enforce the development of bancassurance, such as adjustment the development channels and product structure, exploit diversity products, training more professional staff, perfect incentive mechanism, strengthen the construction of IT technology, emphasize internal risk control, etc.