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This study primarily explores bancassurance channel strategies of life insurance firms. This study uses case interviews to interview senior directors at life insurance firms as well as senior directors and financial management personnel responsible for sales at banks, in order to research life insurance firms and explore how they develop bancassurance channel strategies.
In Taiwan, in collaboration between life insurance firms and banks, bank insurance business generally signs tri-lateral contracts. In recent years, in the life insurance marketing channels, bancassurance has taken up over 60% of the business of life insurance. This study primarily explores how life insurance firms that have not joined financial control groups can increase their own competitiveness to continue developing in the bancassurance business; the factor of bancassurance channel management strategy is an important issue.
This study uses literature review and question design to establish a research framework, using aspects such as the motivation for strategic alliance collaboration, selection criteria for strategic alliance partners, and interaction and communication in the process of forming the strategic alliance, to explore factors that affect the management strategy of bancassurance channels. This study proposes the primary factors for banks selling insurance products, and it is hoped that this can be used to provide life insurance firms with a reference in the management of bancassurance business, so as to elevate the competitiveness in terms of bancassurance channels of life insurance firms that have not joined financial control groups.
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