China's Insurance Company, Bank Insurance Sales Model Study

Bancassurance, coming out in the 80's Europe, is to realize transactions of insurance products by a bank as the marketing channel. A bancassurance business model refers the methods by which the transactions of insurance products are realized through the bank channe. There are different methods to realize the transactions of insurance products which are world-wide adopted under different bancassurance models, such as the pattern of counter sale, the pattern of financial consultants, the pattern of telephone marketing and the pattern of organization service. These bancassurance business models coexist in the international financial market because of the differences of legislation, history or tax policy between different countries in different developing levels developing phases. Actually there is no unificable model to follow in the world. Because of the Chinese financial environment and present situation, the pattern of counter sale is the bancassurance business model generally adopted by china. At the beginning, this business model are guided and pushed by the insurance companies. However, in fact, there are few things that insurance companies could do besides providing commission broker's fees under such simple model as this counter sale pattern. This is why more and more problems become occurring in the Chinese bancassurance business model. Being in difficult position, Chinese insurance companies should change their competition strategies and make the buyers (customers) as their most important strategic partner to seek the breakthrough. In the transaction progress, insurance companies should try to face the customers directly, finding the needs of the customers and thinking about them. Transaction progress could be realized by"IC　Insurance Consultant"pattern. At the same time,...