Bancassurance In The Development Of Ourstrategic Choices

From the 1980s, along with the deepening of economic globalization, financial globalization and liberalization have emerged. In this process, investors are free to choose investment vehicles and channels around the world and channels, capital financing's cost-effectiveness and the major mode has radically changed. "The traditional commercial banks, as to offer financial services for settlement and financing of commodity production and international trade, must find a new profit growth point and the scalability of the funding sources to meet the increasingly diverse financial needs. In the traditional sense, insurance company is only in the risk insures, are gradually developing as two ground support business, underwriting and investment, the modern insurance companies' penetration to capital market and money market is deeper." 1 Based on business needs of commercial banks and insurance companies, bancassurance have gradually developed. On the one hand, it increases the trend of integration of the financial industry and accelerates the wave of mergers and acquisitions of financial institutions, meanwhile, on the real economy; it has a profound impact on the commercial banks, insurance companies and consumers.Internationally speaking, bancassurance has experienced a more complete development process, and increasingly has become a mature microfinance markets. France, Germany, UK, USA and other countries, they all experienced differently, and established bancassurance patterns with their own features. Therefore, they are of significance to the development of bancassurance in China. The bancassurance in China started late, as parties involved in, domestic commercial banks and insurance companies in terms of size, position and other aspects of interest emerged asymmetrical characteristics, which determine that there are shortcomings in the current Bancassurance market. From commercial banks and insurance companies' point of view, a sound system hasn't been established yet on channel development, product structure and innovation, customer relationship management, technical support and after-sales service etc. in the process of bancassurance; From the judicial construction, the relevant laws and regulations are not perfect. Separate operation and weak supervision result in the bancassurance development confining; they cannot protect the positive and healthy development of financial markets; besides, domestic consumer groups have limited awareness of bancassurance, all of which become obstacles to the development of bancassurance. This essay studies the development of bancassurance in the West countries, and tries to seek any worthy approaches. It also sums up the bank-insurance patterns, combines them with current status of Chinese banks, and then select optional patterns for the bancassurance in China so as to do any contribution to China's economy.