Research On The Deepening Plan Of Cross-selling Between Insurance Companies And Bank Credit Card Centers

With the intension of competition of insurance industry,traditional banc-assurance model is facing a challenge due to relative simple strategic positioning and business model between commercial banks and insurance companies,which leads to relative simple product offering and restrained value-added service.In addition,insurance companies are lack of initiative and bargain power in traditional banc-assurance model,and could not monetize via deep penetration of customers life-cycle value because their information about customers and the analytical competence in discovering customers' needs for both commercial banks and insurance companies are limited.On the other hand,with more stringent capital regulatory environment on commercial bank,credit card business is expected to be a strategic business,commercial banks are motivated to explore innovative business cooperation model to optimize strategic product portfolio and increase life-cycle contribution of customer,and hence enhance their non-interest income.Under such business context,the co-branding card business model between insurance companies and commercial banks blooms on the market.Insurance companies are now be able to attract high-quality customers with relative lower acquisition costs,and deepen the penetration of customers' life cycle value by gauging commercial banks clients to their in-house direct sales channel.This thesis studies on a live case of co-branding credit card program between a insurance company and a commercial bank in a research context of customer relationship management,cross-selling and data-mining theories and methodologies.By in-depth analysis,detailed observation and operational diagnosis of the live case,the author concludes the key issues in such business model and proposes a basket of practical solutions.The research on cross-selling practices has been the concentration of contemporary study for insurance marketing,however,there are limited insightful studies on co-branding card program between insurance companies and commercial banks.Given the research situation,there might be some shortage on the referencing research and benchmark data,which could contribute more to this thesis.Despite of these factors,the thesis provides a holistic view and an innovative approach to study and develop the banc-assurance model which could drive the business growth and deepen the life-cycle value of customers for insurance companies.