Research On Legal Regulation Of The Operating Model Of Bancassurance In China

Deriving from France,Bancassurance,as the financial innovation,has had more than thirty years' history in Europe and got remarkable achievement.Since its emergence in the market in 1990s,Bancassurance in China has also got certain achievement,but still has some problems,for example,the main operating model of Bancassurance in China is the distribution agreement model,which is pretty loose cooperation compared with the financial group model.Under this model,the bank and insurance company don't have the awareness of strategic significance for operating Bancassurance and pay more attention to short-term interests of their own,which results in the unstable and short-term cooperation;because of its advantage,the bank tends to only rely on the commission to select the partner,which makes vicious competition fiercer and fiercer.That has restricted the development of Bancassurance in China.Therefore,it is very important to refer to successful experience of Bancassurance in foreign countries,analyze the reason and come up with solutions.From the angle of legal system,this paper firstly outlines the basic definitions about Bancassurance and current problems of Bancassurance in China.Secondly,by comparing operating models and legal systems of Bancassurance in foreign countries, this paper draws some very useful enlightenment for China.Finally,on the basis of analysis of legal system in China,this paper comes up with the countermeasure to solve the current problems of Bancassurance in China.This paper's innovation lies in two aspects.Firstly,from the angle of legal system,this paper analyzes the reason for the current problems of Bancassurance in China that is the legal system of separate operation and the imperfection of existing legal system restrict the deep development of Bancassurance in China.Secondly, according to China's actual condition,this paper raises that the strategic alliance model and purely financial holding company model separately are the short-term and long-term choices of Bancassurance's operating model in China and how the legal system should advance the two models to develop.