Research Of The Development Of Bancassurance Products In Property Insurance Companies In China

Under the circumstance of economic globalization, bancassurance business emerges at this moment. Especially as the development of China’s Internet Finance, as well as the information technology, the high speed development of bancassurance has already took part as the significant direction of Chinese financial market. Generally, in the beginning of the development of China’s bancassurance, which started from the cooperation with property insurance, was mainly consisted of more property’s insurance than life insurance.However, as the appearance of the effect from bancassurance’s investment in the field of life insurance, the scale of the life insurance-bancassurance increases with making the huge progress rapidly. On the contrast, property’s insurance stuck in a very embarrassing situation and there were only a handful of new ideas.In the past few years, by changing China’s economic conditions, adjusting on the macro-policies and implementing the innovation of supervision system, the core concept of the insurance has been switched back to the original purpose of insurance, that is the security function of insurance. Just under such a background, it is time for property insurance company to develop their bancassurance business unit, although it still seemed challenging on the way of its transitional development.In the study, the main purpose is to research on the bancassurance product according to the logical relationship. First of all, the writer briefly introduced bancassurance’s definition, modes and characteristics. Then, it emphasized the development process, new cooperation methods objectively, as well as the overall development situation of China’s bancassurance and the differences between property’s and life insurance. Thereafter, the writer listed out several typical bancassurance products and chose an advanced property insurance company to evaluate the performance. Along with China’s bancassurance’s development, the specific problems need to be solved. After these, based on external and internal factors, the writer analyzed the development environment for China’s bancassurance. Finally, aiming at the existing issues, in aspects of products developing, optimizing and innovating new sales modes, and deeper issues, the writer had found out the solutions to solve problems in developing bancassurance.At the present stage, China’s property bancassurance’s market has got its golden opportunity to promote its development, as well the arising of the solutions to enhance bancassurance products. property’s insurance companies should take the hard-won opportunities to claim its position in the market, establish themselves upon their superiorities, strengthen the combination with bank service, optimize the product development, innovate the existing sales and marketing model. Only by doing these above activities, can bancassurance move on to more advanced forms.