The Bancassurance’s Risk Analysis And Countermeasure Study In China

Bancassurance, born in the in-depth development of economic globalization and financial integration, is an integrated marketing and diversified financial services business, which is provided by the banks and insurance companies in order to adapt to changing market demands, in this business, banks and insurance companies provide customers with financial products with dual characteristics of banks and insurance for mutual customers through a unified sales channels.Bancassurance, since its birth in the1980s, has been generally accepted by the European countries, and rapidly developed into one of the main products sales channels of the insurance industry in particular the life insurance industry. In China, banking and insurance separate operation is still practiced, but China’s bank insurance business achieved great development faced with the increasingly fierce international competition, especially to life insurance companies, bancassurance has become an important marketing channels. However, at the same time, many problems are also exposed, there is a considerable risk. In this case, in-depth analysis of the basic concept and causes, as well as the development process, investigation and summary of the development status, main issues and risks of China’s bancassurance, and learning the bancassurance development and risk management experience from abroad, is of great significance for the constant improvement of China’s bancassurance business and effectively risk circumvent.This paper makes an analysis of the environment and development status of China’s bancassurance business, summarizes the main operational risks of insurance companies in China, summarizes the relevant foreign bancassurance risk management experiences. On this basis, combined with China’s specific national conditions and the system, this paper gives out the basic countermeasures of bancassurance risk management. Finally, Ping An Life Insurance Co., Ltd., for example, based on the analysis of bancassurance business development situation and the main risks for its existence, macro-and microscopic countermeasures are proposed to avoid the risk, further specific recommendations are also proposed to improve the bancassurance business.This paper firstly focus on the identification of bancassurance business risks and their causes from the perspective of the policy, market, secondly focus on summing up the relevant foreign bancassurance risk management experience, which will help sum up the risk-averse and healthy development countermeasures of China’s bancassurance business.