Research On The Benefit Assignment Of The Bancassurance Of China

The bancassurance of China appeared in the 1990s, with many years development, China's banccassurance makes great progresses. The insurance premium reached￥303.9 billion in 2009, accounted for 36.78% of life insurance premium. Premium income of banccassurance comprehensively surpasses the direct sale income, becoming one of the three pillars of life insurance premium. Under the present circumstances, the cooperation of China banccassurance is still dominated by contract. The benefits assignment is the key factor to determine whether the long-term stable cooperation between bank and insurance. In terms of China's banccassurance, Bank holds an absolutely dominant position. It has a large number of branches. Customers trust banks much higher than insurance companies. Chinese people's income is mainly bank deposit. And product homogeneity of banccassurance is very serious and the insurance company pursues the insurance premium scale. Finally, The benefits assignment of banccassurance is very unreasonable. In the long run, the healthy development of banccassurance is favorable for both insurance companies and banks. To promote the healthy development of banccassurance, banks and insurance companies need to know more strategic value of bank insurance and its benefits assignment. First of all, from the perspective of commercial banks, bancassurance not only generate substantial fee income to commercial banks, but also promote strategic transformation of commercial banks. Banccassurance can be viewed as the prelude of commercial banks integrated operations and accumulate experience for future integrated operations of commercial banks. From the perspective of insurance companies, bancassurance has became one of the three pillars of life insurance and a major force in the growth of Life insurance business. If we know the benefits assignment from the strategic development of bancassurance, We can view it as the cooperative game problem. This paper studies the benefits assignment of bancassurance from the view of the cooperative game. The paper is divided into the following sections:1,Foreword. Describe the topic background and significance of the paper, and define related concepts. Finally, introduce the research ideas and research method.2,Literature review and the innovation. Reviewed from bancassurance and benefits assignment of alliance, and identify the problems and shortcomings. Finally, determine the research direction and methods.3,The development process of China's bancassurance and the judgement of management organization model. Analyze the development process of the bancassurance of China. Under the process, determine the cooperation patterns of the bancassurance of China—Agency Agreement Model.4,The factor analysis of the benefits assignment of China's bancassurance in Agency Agreement Model. Analyze the factor of the benefits assignment of China's bancassurance from benefits of cooperation, agency costs and distribution of fee..5,The cooperative game analysis of the benefits assignment of bancassurance. First analyze business process of bancassurance and defined variables of cost input. And then build cooperative game model from the perspective of costs and benefits.6,Conclusions and policy recommendations. Draws the analysis conclusion and puts forward the policy recommendations from four aspects.