| Summary: | 碩士 === 國立中山大學 === 高階經營碩士班 === 96 === Abstract
Insurance Marketing Channel is a form of media which is known for delivering insurance products directly from Insuers to the Consumer. Though the banking and insurance industries are in the same finacial field. However, the gap between them has become more and more pronounced. A major cause for this is related to the fact that regulations are being de-regulated and gradually unchained by individual conturies. The reasons why the Bancassurance marketing channel has become one of the insurance industry’s most important marketing channel is due in large part to a series of reforms in the financial field which took place soon after Taiwan joined the WTO. These reforms have also boosted the profile of Bancassurance and made it directly important, especially after the enactment of the “Financial Holding Company Act” of 2001 and “ Rules for jointly promoting products or providing related service” of 2003 by the Financail Supervisory Commission.
Due to the bank, insurance, and securities companies cross-integration into X-selling, to satisfy one-stop shopping needs of clients; these industries have come together to form the strategic alliance of Bancassurance. From bank company’s viewpoint, they can earn more risk-free fee income by way of selling insurance products to ease the pain of the negative spread from red ocean banking environment. From insurance company’s point of view, they can leverage the banking industry’s large customer basis and their massive branch banking network to significantly cut their basic unit selling cost through the massing capabilities of Bancassurance Marketing Channel. From the consumers viewpoint they can reduce the cost or broad spectrum saerching and better satisfy their one-stop shopping needs.
After the “Financial Holding Company Act” was put into effective, Financial Holdings can possess subsideries like bank, insurance companies (both life or general insurance), and securities companies to better serve their client’s one-stop shopping needs. This represent a far greater challenge to those insurance companies who do not have the background of or access to the resourances that Financial Holdings can offer, forming a barrier that makes it difficult for those above mentioned insurance companies to enter into the Financial Holings Bancassurance marketing channel. Based upon this, my reaserch will present a case study and in-depth interviews of high level banking and insurance company executives who are, themselves, in charge of Bancassurance business, and I will also look into a general insurance company with a non-Financial Holdings background to explore how it can develop its Bancassurance channels.
Due to the emergence of Bancassurance, Market Channels are widely successful and advanced in many western countries, and are also well-developed in the life insurance industry here in Taiwan. The traditional way of marketing in the general insurance is by way of solicitors; however, the quantity of solicitors is less than that of life insurance industry. In this regard, it is very important for the non-financail holding, general insurance companies to properly leverage the advantage of the bankingindustries’ island-wide branches and their good relationship with their clients to make this strategic alliance and truly reach a win-win-win synergy between banks, general insurance companies and consumer.
Keyword: Bancassurance, Market Channel
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