The Status Of The Insurance Business Of Bank Of China And To Develop Countermeasures

Bancassurance appears in recent years. Its definition is various. Bancassurance is an inter-permeated strategy used by the insurance company or bank. It mixes many kinds of finance services of the insurance company and bank. And it meets customer's pluralityization need of the finance services by offering finance services connecting with insurance through sharing the resource of customers and sales channel. The genuine development of bancassurance began from the 80's of 20th century. Europe is the original place of bancassurance. And afterwards, the bancassurance develops very rapidly. The proportion of bancassurance premium in total premium constantly goes up. The bancassurance in France, Spain, Portugal, Sweden and Austria is relatively advanced. The bancassurance income is about 50%-60% of gross life insurance market income; and in other nations like Belgium, Italy, Germany and Britain etc, the proportion is between 20% - 35%. The international economic integration is the outer cause of the bancassurance development. The inherent factor of bancassurance development is the result of the intense competition of finance industry .In our country, bancassurance appeared relatively late, but the development speed is fairly fast. From 1996, in order to enlarge its market share, some newly founded insurance company, such as Huaan, Tai Kang, Xinhua etc, signed bancassurance with the bank and do the business. After entering 2000, the internal bank and insurance company cooperate more closely. The main state-owned insurance company and many stock insurance companies have established cooperation relations on bancassurance with the commercial banks. Entering 2001,the cooperation between the banks and insurance companies was more widely. The biggest three life insurance companies and the four state-owned commercial banks have built cooperation relations. This cooperation is not the simple one-to-one type. It appears a crossing characteristic. Secondly, although the form of the cooperation adapts cooperative agreement, the contents of it isample, such as customers resource sharing, finance consultation service, etc. The cooperation develops rapidly, but the relative system is stagnant. A lot of restriction factors have placed restrictions on its development. Thus how to promote the development of bancassurance becomes a urgent problem inquiring research. This text divides four parts altogether, the definition and the characteristic of bancassurance; the anatomy to our country bancassurance; analysis of the case--TAI PING life insurance co. bancassurance; thoughts to the development of China bancassurance. This text gives many kinds of different definition from different angles so as to expound the rich intension of bancassurance.Apart from the different characteristic, it especially stresses sales channel and management model. In the second part, it introduces the present situation of bancassurance, and describes its development stage and the major products. It analyses the macro-environment of bancassurance and uses Porter model to analyze the competition environment of bancassurance. And the restriction factor is analyzed from the macroscopic angle. The third part is a case studying. The purpose is to analyze the restriction factor in detail from the microcosmic angle. And validating it with above analysis so as to make it believable. Therefore the text closely focuses on the problem discussed. The second and third parts are the foundation of the whole text. To solve the problem only when finding it out. The forth part is the key part. It is the suggestions proposed by the author. It includes the analysis and suggestion of China bancassurance, the thoughts and countermeasures against WTO to our country insurance industry.