A Research On Innovation Direction Of Bank Insurance Development Model Under New Supervision Environment

Bank insurance is the inevitable outcome of the infiltration of banking and insurance business and the integration of banking capital and insurance capital under the macroscopic background of economic globalization and financial liberalization.Bank insurance is the integration of different financial products and services.These financial products and services complement with each other to achieve the common development.Bank insurance is a new insurance concept.It can reflect the strong cooperation and in teraction between banks and insurance companies in financial cooperation.At present,with the all-round cooperation of banks and major insurance companies and enterprises,the bank insurance business in China has made phased achievements.The product types of bank insurance are constantly enriched.And its service model is more reasonable and so on.However,compared with the public demand for banking and insurance business,there are still many problems in China's banking and insurance business.It is necessary to establish a banking and insurance service system to meet the needs of customers as soon as possible.This is helpful to enhance the core competitiveness of banking and insurance business and promote the successful realization of the marketing objectives of bankingandinsurance business.Under the guidance of synergy theory,scale economy theory,institutional change theory and information asymmetry theory,this paper studies the development of bank insurance.And it also discusses the innovation of bank insurance development model under the new regulatory environment by using literature review method.Firstly,this paper expounds the development of bank insurance and the changes of the regulatory environment.And it also introduces the development and significance of bank insurance,and the related theoretical contents.It focuses on the analysis of the impact of regulatory policies on the whole bank insurance market in recent years,especially on the product composition and sales scale.Then,by reviewing the history of the development of bank insurance in China,this paper focuses on the analysis of the characteristics and achievements of the development of bank insurance in China.From these studies,we can see that the development history of bank insurance in China is relatively short.Coupled with the relatively imperfect regulatory environment in China,the banks in China are affected by the relatively imperfect regulatory environment.There are still many problems in the mode of insurance,such as single mode of operation,unreasonable product structure,not in-depth cooperation between banks and insurance companies,unreasonable sales process,unclear product positioning and so on.On the basis of the above analysis,the paper puts forward the innovation and reform direction of the future development model of bank insurance in the light of the current regulatory environment.From the perspective of insurance companies,it is necessary to upgrade the model to improve the profitability of bank insurance products,increase the market share of enterprises and enhance brand radiation.From the perspective of banks,we should improve the structure of financial products,enhance the competitiveness of banks in the industry,improve the marketing ability,increase the profit margin,and enhance customer satisfaction through mode upgrading.From the current relatively elementary agent sales model to the strategic alliance model more suitable for the current regulatory environment,the concrete implementation level can be from strengthening cooperation between banks and insurance,optimizing the supply of insurance products,establishing a sound banking and insurance operation and management mechanism,building a sound banking and insurance information service system,and optimizing bank insurance marketing strategy portfolio and other aspects.At the end of this paper,from three aspects of policy and regulation guarantee,supervision system guarantee and human resource guarantee,how to ensure the healthy upgrade of banking insurance under the new supervision environment is put forward,which will promote the innovation of banking insurance development model and the development of banking insurance under the new supervision environment.The main research features and innovations of this paper are as follows: 1.Combining with the new insurance regulatory policies,the paper analyzes the pressure and challenges on the development of bank insurance;2.It puts forward the direction of the development model under the new regulatory environment,which is gradually changing from the current distribution agreement model to a higher level of strategic Alliance model.