| Summary: | 碩士 === 淡江大學 === 保險學系保險經營碩士在職專班 === 98 === Since the financial crisis in 2008, there have been an increase in consolidation activities among banks and insurance companies in Taiwan, not mentioning the trend going towards market concentration and changes in strategic directions. By developing Unit-Linked Products, insurance companies are able to have the problems of channel concentration and interest spreads alleviated. It also steers the insurance industry from a traditional model towards one that is more efficient in processes and knowledge. As a result, a bancassurance sales model that is fitting to Taiwan’s insurance market will also evolve through time.
Through series of research and analysis, the results are as follows:
1.Insurance companies should establish closer business ties with partnering banks.
2.Product-focused orientation will be geared towards customer needs-focused, a consequence of demand for profitability.
3.Unit-Linked Products will develop more diversely, with the underlying investments shifting towards bank’s trust platforms. Protection products, for example, variable universal life, other types of life, accidental and health products, will continue to be sold in channels that produce strong sales, yielding consistent profitability.
4.Being adversely affected by IFRS regulations, foreign insurance companies could only continue to focus on Unit-Linked products. Consumers will benefit from products of international scale and lower prices.
5.Banks sell insurance products through large numbers of bank branches, with more focus on customer relationship management and sales quality.
6.Bank brokers will act on diversifying customer base and establishing partnership with insurance companies that are competitive in product integration and long term business partnerships. Bank brokers may exploit such opportunities through channels such as traditional brokers, subsidiaries and telemarketing.
7.Banks will further strengthen marketing in the corporate banking business, as a means of improving overall efficiency.
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