The Co-opetition Relations in Life Insurance Channels between Insurance Company and Commercial Banks－ A Case Study of Shin Kong Life Insurance
| Autor: | Chia-Hsien Chou, 周家賢 |
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| Rok vydání: | 2014 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 102 Private life insurance companies have been allowed to establish since 1961 in Taiwan. Many foreign life insurance companies are permitted to establish their branch companies in Taiwan to run insurance business one after another from 1986. In 1993, the Ministry of Finance amended “the Standard of Establishment of Insurance Company” and led to more and more new insurance company establishments. From then on, the insurance market in Taiwan went into a new era of full-scale development. During that period of time, life insurance companies still used their own sales force as the main channel to sell. It took up approximately 90% of total insurance sales. In recent 10 years, life insurance companies started to cooperate with banks and it has led to big change of sales channel of life insurance. From the statistics done in 2012, the income of new insurance contract from bancassurance reached TWD 665.8 billion which is 55.9% of the total. Obviously, it reflected the importance of bank channel in the life insurance business. Additionally, because of deteriorating earning from the rest business, banks have to look into new groundbreaking and innovative opportunities. However, bancassurance is provided with characteristics of easy to understand and sell, low risk and high profit. As a consequence, the life insurance industry and banking can match each other so well in this background. In the present, all 30 life insurance companies in Taiwan have plunged into the development of bancassurance and it has led bancassurance to turn to another Red Sea market. Therefore, it becomes an important issue for life insurance companies to utilize their self-owned strategic resource, find out their own competitiveness and develop advantageous co-opetition. This research is based on a case study by qualitative analysis of the marketing model of bancassurance in the life insurance industry. We discuss the co-opetition of bancassurance in the life insurance industry through SWOT analysis and Value Net analysis. From the construction of model and the result of co-opetition analysis, we expect to induce how different elements can increase influence in the bancassurance, avoid ill competition in Red Sea and enhance competitive advantages of the case company. By the inductive analysis in this thesis, we can know the entire profile of the case company in the market furthermore and also realize the relationship and interaction in between of the case company, customers, competitors and complementors. Changing the game by utilization of five elements of Game Theory (Players, Added Values, Rules, Tactics, Scopes) makes two kinds of marketing driven force (push and pull) operate simultaneously and help to stay in a better position, not only enlarging the whole market but also winning bigger portion of the market. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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