Research On The Development Of BJNH Bank’s Agency Insurance Business

With the rapid development of economy and the continuous advancement of financial integration,a new type of business relationship has emerged between banks and insurance companies instead of the original relatively parallel and independent development model,that is,commercial banks act as agents for insurance companies’ products,which is the so-called bank agency insurance business.As a new type of intermediary business of commercial banks,bank insurance agency business is very attractive and can satisfy the interest business of all parties.In recent years,the business has become one of the important channels for the banking industry to increase the source of incomes.Various commercial banks have joined in one after another to promote the flourish of insurance agency business.However,the business in the development process does not go off smoothly,and a series of problems gradually emerged.In this article,BJNH Bank is as the research object,we comprehensively use the method of PEST analysis analysis of external environment of marketing,through the questionnaire survey,statistical analysis etc,analyse the present situation of insurance agency business of BJNH Bank,and finally find that BJNH Bank exits a series of problems in the aspects of the product,internal management,personnel training and other aspects.On this basis,we further analyse the reasons of slow development in this article,and these constraints main include : on the one hand,external constraints such as politics,economy,society and technology;on the other hand,there are internal constraints: first,the product structure change increase the difficulty of marketing;second,the product after-sales service does not reach the standards,further influence the marketing personnel positivities;third,the marketing personnel are unprofessional enough;Fourth,there is the lack of effective incentives;Fifth,customers have concerns about bank agency insurance business.In response to the constraints obtained from the analysis,we put forward reasonable solutions and suggestions for the development of BJNH Bank’s agency insurance business:first,enhance the competitiveness of banking and insurance business to adapt to changes in external factors;second,a kind of development within supervision is a must through the design of banking and insurance products;third,improve the after-sales process and improve the level of customer service;fourth,improve the professional quality of bank agent insurance business personnel to meet the requirements of financial professional services;fifth,innovate the bank’s incentive mechanism of internal insurance agent to stimulate sales enthusiasm of the staff.The purpose of writing this article not only hopes to provide suggestions for the development of BJNH Bank’s insurance agency business,but also hopes to help the development of the regional commercial bank’s insurance agency business.