| In order to face the trend of internationalization and liberalization, some significant financial reforms have been applied sequentially in Taiwan, such as, the Financial Institutions Merger Act passed on Nov. 24, 2000, the Financial Holding Company Act passed on Jun. 27, 2001, and the six economic and financial reform measures etc. revised in 2003. The approval of all these important financial reforms represents the legalization of the benign competition between alien and domestic financial industries; moreover, it is also expected to bring more beneficial financial reforms as a result. Following the trend, a number of financial sectors in Taiwan have successively established Financial Holding Companies in the last few years. Until now, there are fourteen government-approved financial holding companies in Taiwan. Under the framing of financial holding companies, most of them combine banking, insurance, securities, venture capital and financial consulting by merging or acquiring. Through multi-functional operations, the financial sectors can expand services, scale of economy, management cost deductions, operation performance as well as the competitiveness against foreign financial institutions. Especially, the prevalence of Bancassurance is the most representative good example of the resource utilization of mutual relationships under the framing of the financial holding company.The development of Bancassurance channels has increasingly become a new trend and an important source of the insurance business in the market of Taiwan since the setup of financial holding companies. There is no doubt that the flourishing of Bancassurance will be an inevitable trend for the future insurance market. But, how will the Bancassurance channels become an important source of the insurance business? What competitive advantages will be provided by Bancassurance as part of the framing of the financial holding company? How should we operate to keep the competitive advantages of Bancassurance? How should we create the marketing strategies that can perfectly correspond with market demands and specialties of distributions? How should we develop the relationships with customers in order to increase competitiveness to maintain long-term competitiveness? All the research problems above are becoming more and more significant issues in both academic and business fields lately. Since Bancassurance is still an emerging business, there is little empirical research to focus on this area. However, more deep researches are required and expected to provide helpful and important reference materials for Bancassurancer. Based on this point, it attracts author to study the issue of Bancassurance and especially concentrate on the competitive advantages and marketing strategies. This study begins by analyzing the competitive advantages of Bancassurance in respect of value chains and value activities. Thereafter, it is followed by deep discussions of continuous competitive advantages, marketing strategies and channels planning as well as the customer relationship management application. In order to strengthen the logical validity of this study, survey and empirical methodology is employed to explore an entire idea about the link between Bancassurance and marketing strategies. Additionally, the discussions of some implications for the findings and suggestions for developing strategies to survive in the fierce financial environment are also provided in the final section. This study is mainly structured into seven parts as following:The first part (Chapter one) includes the introduction, which mainly focuses on some important concepts and basic definitions of study procedures related to Bancassurance research. The background and statement of the research problem are first described. The motivation and themes, approaches and process, and the scope of the study are then presented. Finally, the contributions of the dissertation as well as limitations are also given.The second part (Chapter two) mainly reviews the contributions to existing literature and provides the theoretical and practical bases for this study. In this part, it mainly focuses on two areas: the multi-functional operation in financial business and Bancassurance. This part presents a conceptual paper proposing the issues toward the relationship between the financial industry development and financial multi-functional operations, and motivations, types, models, and interactions of the multi-functional operations. Since then, it may offer financial sectors some useful operating models regarding multi-functional operations and point out the important performance of multi-functional operation for Financial Holding Companies. In terms of a review of related literature on Bancassurance, analysis of meaning, steps of developments, reasons of popularity, models of operations, consumer identification, and developments in some western developed countries are all addressed in detail. Based on these discussions, the origin and reforms of Bancassurance, the market identification, and the factors of success and failure will be therefore realized. Certainly, it definitely provides a good example for marketing strategies of Bancassurance in the market of Taiwan and also leads to more potential topics for future researches.The third part (Chapter three) particularly discusses how to develop and continue the competitive advantages of Bancassurance. The third chapter not only discusses the competitions among fourteen financial holding companies in Taiwan, but employs theories of the value chain and mutual relationship by Michael E. Porter to discuss how the Bancassurance, under the framing of the financial holding company, can deduct costs and gain differentiated competitive advantages by utilizing mutual relationships and value-activities together. Besides, in order to create enduring competitive advantages, the possible strategies and methods of continuous competitive advantages will be thus analyzed in this part as well.The fourth part (Chapter four) is an empirical study designed to investigate the factors of consuming images on Bancassurance. This chapter focuses on the research of consuming images on Bancassurance, and further explores the perceptions from banking consumers toward consuming images and cognitions. Through this investigation, it provides important elements for planning a marketing mix for Bancassurance. The main research instrument in this study is a questionnaire, initially analyzed with the SPSS statistics tool by using percentage analysis to investigate the basic cognitions about Bancassurance from banking consumers' perceptions. In addition, the methodologies of Principal Component Analysis and Varimax Rotation are then employed to extract the factors of consuming images on bancassurance. Then, Cronbach'sαis additionally used to exam the internal consistency and reliability among factors, percentage of Variance and Cumulative Variance are for explaining the validity of factors, and the average of each factor of consuming images on Bancassurance is finally utilized in this study to rank the degree of emphasis.The fifth part (Chapter five) discusses the marketing strategies planning of Bancassurance. The primary objective of this chapter is through the understanding of the characteristics of the market and the result of market demand by applying the investigation to consumers' cognitions and consuming images from the last chapter, thereafter, to figure out the best model of marketing channels for Bancassurance by corresponding with the steps of marketing strategies implementation. The context mainly emphasizes the factors of consuming images on Bancassurance in Taiwan's market, operating models and strategies for Bancassurance industry, and SWOT analysis for the market of Bancassurance. The author will provide the Bancassurance industry with suggestions for marketing mix strategies by studying insurance product, price, promotion and channels.The sixth part (Chapter six) focuses on how to bring consumer relationship management (CRM) into Bancassurance. The implementations of CRM have increasingly become an important key point for Bancassurance under the framing of financial holding companies. This chapter primarily emphasizes the importance of CRM, the models of CRM, operating process and models of CRM, required operating elements of CRM, and educating employees about CRM concepts,the evaluation method of customers satisfaction degree etc.The seventh part (Chapter seven) is conclusions and suggestions. The summary analyses will be first described based on the researches of Bancassurance issues in this study. The recommends for developing and maintaining the Bancassurance strategies in the competitive financial environment will be then presented.
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