Research On Management Strategies Of PICC Henan Branch's Bancassurance

The cooperation between Banks and Insurance Companies is the trend of financial development in our country, which has more advantages than disadvantages for both sides of the partnership, but with the deterioration of financial environment, the problems existed in cooperation is destroying the cooperative ecology and the idea of cooperation, which breaks the relation between them. As the market leader of the field of the property insurance in Henan, PICC Henan branch has been showing a rapid development in terms of the premium scale and growth rate.But the main competitive bodes, which is increasing rapidly,, mainly select the radical and aggressive strategies, such as giving large price discount and driving interest of the key part. Vicious competitions contain more than raising frees maliciously, subsidizing bank managers illegally, which has seriously restricted the healthy development of the Bancassurance of property insurance industry, and made PICC Henan branch faced with unprecedented challenges. In order to cope with the market challengers, PICC Henan branch's Bancassurance has to make the right decision in picking cooperation model and business strategy to keep the preponderance and sustainable.By stating the definition and development history, this study summarized the characteristics and motivation of development of Bancassurance. Based on the current situation, this paper analyzed and pointed out the existing problems, including unreasonable business structure, low production under wide cooperation, monotonous product and model,product homogeneity, lack of professional sales team and poor profitability. Finally, this research proposed the suggestion of choosing cooperation model and the recommendations on business strategy in several ways for PICC Henan branch, which comprises five aspects: promoting differentiation product strategy, optimizing channel cooperation strategy, innovating cooperation mode, specializing sales team and improving risk management and control system.This study provides a case of insurance company's provincial branch, which enriches the case base of business strategy research in Insurance Company and provides material for the research on property insurance company's Bancassurance. Besides, it offers not only the instructions for PICC Henan branch in innovating cooperation mode and optimizing business strategy, and also the references to the provincial branch of the property insurance company.