The Research Of Problems And Solutions For The Insurance Business Of China Commercial Banks

There exist many problems in China’s bank insurance business.They are mainly manifested in two aspects: mistakes made in the courseof learning from American and European experience, andunderperformance in the field of exploration and innovation. Thoughthere are various and complicated reasons for these problems, the mostcritical is the absence of corporate social responsibility, lack of awarenessof customer value creation, as well as declining synergies between banksand insurance companies. Sustained development in the bank insurancebusiness, on the macro level, entails systematic changes and innovationsin top-level system design, bank insurance product development,marketing and sales force cultivation. In order to create value forcustomers, it is important to launch electronic insurance policy andenhance the technology content of bank insurance products. In order toprevent and eliminate systematic financial risks, it is also needed toreform agent commission system and make commissions accessed, avoidindustry-wide low-level, low-technology competition, promote brokersystem reform, and improve cooperation and competition mechanisms inthe financial sector from a forward-looking perspective. On the microlevel, it is necessary for such business entities as banks and insurancecompanies to grasp the toughness, complexity, and sensitivity typical ofbank insurance work, establish medium-and long-term, sustainable, andcomprehensive development philosophy, and actively probe and developbanking and insurance systems, processes, and cultural innovations.