Abstract Bancassurance is widely viewed as being the future of business success, which spans both the banking and insurance industries. This research focuses on the critical success factors in the sales and distribution of bancassurance in South Africa. Interviews were conducted with senior executives in the fields of banking and insurance in order to establish whether this is the case. The results that emerged from these interviews indicated that a strong organisational structure with executive support, together with simple products designed for bancassurance distribution, was essential in any successful strategy. In addition to this, a level of integration between the bank and insurer was necessary, with the retail network of banks being viewed as a potential contributor to success if certain challenges could be overcome.

Abstract Due to trends in internationalization and free market developments, since 1980, the government has gradually deregulated its banking policies. On October 13, 2000, a new banking law number 74 was passed and allowed commercial banks to diversity into securities, bonds, options, insurance and other related finaicial businesses with governmental approval. This leads to a significant expansion of the banking industry and results in a decrease in competitive pressure and overall operating costs. The banking industry has taken advantage of this new regulation and now provides savings, trusts, foreign currencies, whole life insurance, and many other financial services to entice potential customers. Whole life insurance has become a major focus for commercial banks, for they already have significant competitive advantage in customer resources, marketing channels, cost savings, and product innovations. Thus, developing insurance businesses have become a main developmental trend for commercial banks. In 1993 and 1994, Taiwan banks and the insurance industry have develope many successful strategic alliances. Taishin insurance agent company,formed in 1996, has become the most profitable division of the Taishin group. Since then, commercial banks entering into the insurance businesses have increased dramatically. As of December of 2003, over 70% of the 52 commercial banks already provide whole life insurance services. Know this significant developmental trend, this research intends to use a case study methodology to study a commercial bank's involvement in the operations and the 4P marketing of the whole life insurance business. ¤@¡BProducts Discuess marketing product variety, customer acceptance, and selection of products from corporate strategic alliances. ¤G¡BPrice Discuss product marketing in terms of price versus value ¤T¡BPromotion Discuss methods of promotion and the human factors in marketing ¥|¡BPlacement Discuss customers acceptance in terms of different marketing placement and distribution channels KEY WORD :Bancassurance , Marketing 4P

Abstract Insurance Marketing Channel is a form of media which is known for delivering insurance products directly from Insuers to the Consumer. Though the banking and insurance industries are in the same finacial field. However, the gap between them has become more and more pronounced. A major cause for this is related to the fact that regulations are being de-regulated and gradually unchained by individual conturies. The reasons why the Bancassurance marketing channel has become one of the insurance industry¡¦s most important marketing channel is due in large part to a series of reforms in the financial field which took place soon after Taiwan joined the WTO. These reforms have also boosted the profile of Bancassurance and made it directly important, especially after the enactment of the ¡§Financial Holding Company Act¡¨ of 2001 and ¡§ Rules for jointly promoting products or providing related service¡¨ of 2003 by the Financail Supervisory Commission. Due to the bank, insurance, and securities companies cross-integration into X-selling, to satisfy one-stop shopping needs of clients; these industries have come together to form the strategic alliance of Bancassurance. From bank company¡¦s viewpoint, they can earn more risk-free fee income by way of selling insurance products to ease the pain of the negative spread from red ocean banking environment. From insurance company¡¦s point of view, they can leverage the banking industry¡¦s large customer basis and their massive branch banking network to significantly cut their basic unit selling cost through the massing capabilities of Bancassurance Marketing Channel. From the consumers viewpoint they can reduce the cost or broad spectrum saerching and better satisfy their one-stop shopping needs. After the ¡§Financial Holding Company Act¡¨ was put into effective, Financial Holdings can possess subsideries like bank, insurance companies (both life or general insurance), and securities companies to better serve their client¡¦s one-stop shopping needs. This represent a far greater challenge to those insurance companies who do not have the background of or access to the resourances that Financial Holdings can offer, forming a barrier that makes it difficult for those above mentioned insurance companies to enter into the Financial Holings Bancassurance marketing channel. Based upon this, my reaserch will present a case study and in-depth interviews of high level banking and insurance company executives who are, themselves, in charge of Bancassurance business, and I will also look into a general insurance company with a non-Financial Holdings background to explore how it can develop its Bancassurance channels. Due to the emergence of Bancassurance, Market Channels are widely successful and advanced in many western countries, and are also well-developed in the life insurance industry here in Taiwan. The traditional way of marketing in the general insurance is by way of solicitors; however, the quantity of solicitors is less than that of life insurance industry. In this regard, it is very important for the non-financail holding, general insurance companies to properly leverage the advantage of the bankingindustries¡¦ island-wide branches and their good relationship with their clients to make this strategic alliance and truly reach a win-win-win synergy between banks, general insurance companies and consumer. Keyword: Bancassurance, Market Channel

Texte remanié de: Thèse de doctorat--Droit privé--Poitiers, 2006. / Bibliogr. p. 397-425.

The aim of my thesis Bancassurance isues is to provide a complex and comprehensive view of this area. Significant part of my thesis is contained by theoretical definitions and descriptions of bancassurance history and developement in the world and Czech Republic as well. In this part I specify particular cooperation models and levels between banks and assurance companies. I also present benefits and disadvantages of bancassurance for customers and both banks and assurance companies. The second part of my thesis is more practically focussed. It is devoted to actual financial and economical crises, its impact on bancassurance field and bancassurance holdings. There is also a analyses of czech bancassurance market as a conclusion .

The main objective of this thesis is the analysis of integration processes on financial markets with focus on integration between insurance and banking sector. This thesis examines history of bancassurance, reasons for bancassurance cooperation, partnership models between banks and insurance companies and key factors for succesful realization of bancassurance. Moreover, the thesis analyzes bancassurance segment in the Czech republic and selected countries of the European Union. The end point is dedicated to future of bancassurance.

目前銀行若欲販售保險商品，除金控公司可利用金控法共同行銷之規範跨售保險商品外，其餘非金控之公司僅能透過轉投資保險經紀人或代理人公司販售保險商品。然於方式下卻衍生出銀行將責任丟予保經代公司或保險公司處理，而不需直接負擔銷售疏失責任之問題。有鑑於此，2015年2月4日行政院修正公布《保險法》草案，開放銀行得以透過成立保險部門之方式辦理「保代、保經」業務，以期解決市場上長久以來之權責不符問題。 因此本文將藉由深度訪談與文獻探討之方式，就此次修法(保經代部門化)對銀行保險市場各關鍵角色所造成之影響與衝擊做一深入研究。並了解主管機關對於此次修法所為之相關因應措施與對法律條文中有疑義之處做一探討。 最後本文得出之結論如下。關於對銀行保險各方之影響為:一、對於銀行而言影響有利有弊，最大之好處為所得稅之減少與解決個資法規範問題，另一方面其所需負擔之責任將大幅增加，故於此情形下，銀行大多處於觀望態度。二、對保險代理人與經紀人公司而言，設部將造成其人事上等衝擊，故對其為百害而無一利。三、對保險公司而言，雖然設部可能使其提供之商品更趨於儲蓄型商品，但卻擁有降低交易成本之好處，因此整體評估仍是利大於弊。四、對消費者而言最大之好處為增加於銀行保險消費中所受之保障。五、對監理官而言，則需注意後續之監理議題。六、對金控公司而言可能產生銀行外子公司之理專無處登錄之問題。七、對公營銀行而言將可能因整併較不易而產生設部困難之情形。 對於後續因應與監理議題之結論為:一、主管機關應併同修改《銀行法》、《銀行、保險公司、保險代理人或保險經紀人合作推廣或共同行銷企約書範本》等相關法條較為妥當。二、對於保經代設部應採行雙軌制亦或是單軌制之部分，本文主張主管機關應採行雙軌制或有條件之雙軌制。三、關於設部後應設立保經部亦或是保代部，本文則認為由於保經代各有其優缺點，實難一言以蔽之，故應交由市場自行決定，唯可建議若銀行設部時沒有保險兄弟公司者，應設立保險經紀人部門較為合適，反之，若有保險兄弟公司者，則設立保險代理人部門較為合適。四、關於組織架構則建議應將保經代部門與財富管理部設立平行部門，以防保險之地位趨於傭收。

O avanço da consolidação nos setores bancário e segurador brasileiro, o acirramento da concorrência com a disputa pela liderança, as mudanças regulatórias e a crescente participação dos seguros no resultado dos conglomerados bancários têm estimulado a revisão das estratégias de atuação pelos bancos. Dentro desta perspectiva, as alianças estratégicas com seguradoras surgem como um importante meio para alcançar vantagem competitiva. O presente trabalho tem como objetivo descrever e analisar as características das alianças estratégicas entre empresas dos setores bancário e segurador no Brasil. Neste contexto, foram mapeados os tipos de alianças e as principais movimentações ocorridas após o Plano Real, em 1994. Para identificar os objetivos e fatores motivadores das diferentes alternativas de alianças, os critérios utilizados para seleção dos parceiros e as principais características destas operações foram realizados estudos de casos em cinco instituições. O método de estudo de casos foi escolhido por mais se adequar ao tipo de questões formuladas, “como” e “por que”. Complementarmente, foram utilizadas fontes secundárias de dados, visando dar maior consistência aos resultados obtidos nos estudos de casos. Os resultados evidenciam o domínio do mercado segurador brasileiro pelas seguradoras controladas por conglomerados bancários, especialmente nos segmentos com maior afinidade com os produtos e serviços bancários: previdência, capitalização e seguro de pessoas. Os resultados também sugerem fatores que influenciam as alternativas de atuação pelos bancos através de: seguradoras próprias, participações acionárias, joint ventures, acordos de cooperação exclusivos ou acordos com diversas seguradoras. As alianças estratégicas com seguradoras são uma alternativa especialmente relevante para os bancos que não dispõem de recursos, tecnologia ou a escala necessária para atuar, de maneira competitiva, com seguradoras próprias. / The progress of consolidation in the banking and insurance in Brazil, the increase in competition with the leadership contest, the regulatory changes and the increasing participation of insurance in the outcome of banking conglomerates have encouraged the review of strategies by banks. Within this perspective, strategic alliances with insurers emerge as an important means to achieve competitive advantage. This paper aims to describe and analyze the characteristics of strategic alliances between banks and insurers in Brazil. Thus, were mapped the types of alliances and major movements occurred after the Real Plan, in 1994. To identify the goals and motivating factors of the alternative alliances, the criteria used for selection of partners and the main characteristics of these operations were carried out case studies at five institutions. The case study method was chosen because it most fit the type of questions, "how" and "why". In addition, were used secondary data sources in order to give greater consistency to the results obtained in the case studies. The results show the dominance of the Brazilian insurance market by insurance companies controlled by banking conglomerates, especially in segments with higher affinity for the financial services: retirement savings, “capitalization” (combines lottery-based drawings with an incentive savings product) and life insurance. The results also suggest factors that influence the choices of action by the banks through: own insurance companies, equity investments, joint ventures, exclusive cooperation agreements or agreements with several insurers. Strategic alliances with insurance companies are an alternative especially relevant for banks that lack the resources, technology or scale needed to operate in a competitive manner, with insurers themselves.

Este trabalho objetiva analisar o papel da distribuição de seguros por bancos (bancassurance) no mercado segurador brasileiro. A união dos dois mercados se deu a partir de 1967, quando toda a cobrança relativa a seguros passou a ser obrigatoriamente executada através da rede bancária, proporcionando a estes uma farta captação de recursos para a atividade principal da instituição: a concessão de crédito. A partir de então, o movimento de convergência entre os dois negócios só aumentou, através de fusões e aquisições de bancos e seguradoras, com marcos históricos importantes, como a constituição de 1988 que estabeleceu a vinculação do setor securitário ao Sistema Financeiro Nacional, ao lado das instituições bancárias. Atualmente, a atratividade da venda de seguros para os bancos continua muito grande. Com a concessão de crédito já tendo atingido um grande patamar junto ao público bancarizado, os bancos estão buscando a ampliação de suas receitas através de outros produtos e serviços. Dentre eles, seguros ocupa lugar de destaque. Para a execução da pesquisa, foram analisados indicadores econômicos, financeiros e sociais de diversos órgãos que aglutinam e estratificam dados sobre o mercado securitário e bancário nacional e internacional. Além disso, foram abordados marcos teóricos relativos à estratégia empresarial e competitiva, bem como a crescente participação dos bancos no mercado segurador. Por fim, foram expostos resultados qualitativos obtidos através das entrevistas, onde foi discutida a aplicação prática das decisões estratégicas que norteiam as posicionamentos das empresas envolvidas neste mercado, além das diferenças entre as formas de distribuição de seguros no mercado brasileiro. Apoiado pelo fenômeno da bancarização e na capilaridade da rede bancária, o bancassurance tem relevante papel na massificação de seguros junto à população. Como efeito, este mercado apresenta crescimento superior ao observado na economia brasileira, passando de uma participação inferior a 2% em 1994 para mais de 5% do Produto Interno Bruto (PIB) no início da presente década. A decisão da instituição financeira pela venda de seguros passa pela estratégia de diversificação do portfólio de produtos, com o objetivo de cobrir os seus custos através de produtos e serviços complementares à intermediação financeira, havendo diferenças entre bancos proprietários de seguradoras e bancos que realizam parcerias com seguradoras terceiras atuando apenas na distribuição. Um ponto fundamental do bancassurance é a proteção do patrimônio dos clientes, evitando a retirada de recursos da instituição financeira para a reposição do bem sinistrado, e a fidelização de clientes no longo prazo. / This paper aims to analyze the role of the distribution of insurance by banks (bancassurance) in the Brazilian insurance market. The union of the two markets occurred after 1967, when the entire collection related to insurances started to be done, mandatorily, through the banking network, thereby providing a rich fundraising for the institution's main activity: lending. Since then, convergence movement between the two businesses only grew through mergers and acquisitions of banks and insurance companies, with major historical milestones, such as the 1988 constitution that established the linkage of the insurance industry to the nation’s financial system, along with banking institutions. Currently, the attractiveness of selling insurance for banks remains very high. With the extension of credit already reached a great level with the bank going public, banks are seeking to expand their revenue through other products and services. Among them, insurances occupy a leading place. To carry out the research, we analyzed the economic, financial and social indicators of various bodies that bind and stratify data on the insurance and bank market national and international. Moreover, theoretical frameworks were addressed relating to business and competitive strategy, as well as the increasing participation of banks in the insurance market. Finally, qualitative results obtained from the interviews were exposed, where they discussed the practical application of strategic decisions that guide the positioning of the companies involved in this market, and the differences between the types of insurance distribution in the Brazilian market. Backed by the phenomenon that is banking and the stratification of the banking network, the bancassurance has a relevant role in the popularization of insurance among the population. In effect, this market presents a superior growth in comparison to the Brazilian economy, starting with participation percentage of less than 2% in 1994 to more than 5% of Gross Domestic Product (GDP) at the beginning of this decade. The decision by the financial institution to start selling insurance goes through the strategy of diversifying product portfolio, in order to cover its costs through products and services that are complementary to financial intermediation, when having differences between banks that own insurances companies and banks that have partnerships with insurance companies acting only in distribution. A key point of bancassurance is the protection of client’s assets, avoiding the withdrawal of funds from the financial institution for the replacement of a lost asset as well, and maintaining customer loyalty in the long run.

O avanço da consolidação nos setores bancário e segurador brasileiro, o acirramento da concorrência com a disputa pela liderança, as mudanças regulatórias e a crescente participação dos seguros no resultado dos conglomerados bancários têm estimulado a revisão das estratégias de atuação pelos bancos. Dentro desta perspectiva, as alianças estratégicas com seguradoras surgem como um importante meio para alcançar vantagem competitiva. O presente trabalho tem como objetivo descrever e analisar as características das alianças estratégicas entre empresas dos setores bancário e segurador no Brasil. Neste contexto, foram mapeados os tipos de alianças e as principais movimentações ocorridas após o Plano Real, em 1994. Para identificar os objetivos e fatores motivadores das diferentes alternativas de alianças, os critérios utilizados para seleção dos parceiros e as principais características destas operações foram realizados estudos de casos em cinco instituições. O método de estudo de casos foi escolhido por mais se adequar ao tipo de questões formuladas, “como” e “por que”. Complementarmente, foram utilizadas fontes secundárias de dados, visando dar maior consistência aos resultados obtidos nos estudos de casos. Os resultados evidenciam o domínio do mercado segurador brasileiro pelas seguradoras controladas por conglomerados bancários, especialmente nos segmentos com maior afinidade com os produtos e serviços bancários: previdência, capitalização e seguro de pessoas. Os resultados também sugerem fatores que influenciam as alternativas de atuação pelos bancos através de: seguradoras próprias, participações acionárias, joint ventures, acordos de cooperação exclusivos ou acordos com diversas seguradoras. As alianças estratégicas com seguradoras são uma alternativa especialmente relevante para os bancos que não dispõem de recursos, tecnologia ou a escala necessária para atuar, de maneira competitiva, com seguradoras próprias. / The progress of consolidation in the banking and insurance in Brazil, the increase in competition with the leadership contest, the regulatory changes and the increasing participation of insurance in the outcome of banking conglomerates have encouraged the review of strategies by banks. Within this perspective, strategic alliances with insurers emerge as an important means to achieve competitive advantage. This paper aims to describe and analyze the characteristics of strategic alliances between banks and insurers in Brazil. Thus, were mapped the types of alliances and major movements occurred after the Real Plan, in 1994. To identify the goals and motivating factors of the alternative alliances, the criteria used for selection of partners and the main characteristics of these operations were carried out case studies at five institutions. The case study method was chosen because it most fit the type of questions, "how" and "why". In addition, were used secondary data sources in order to give greater consistency to the results obtained in the case studies. The results show the dominance of the Brazilian insurance market by insurance companies controlled by banking conglomerates, especially in segments with higher affinity for the financial services: retirement savings, “capitalization” (combines lottery-based drawings with an incentive savings product) and life insurance. The results also suggest factors that influence the choices of action by the banks through: own insurance companies, equity investments, joint ventures, exclusive cooperation agreements or agreements with several insurers. Strategic alliances with insurance companies are an alternative especially relevant for banks that lack the resources, technology or scale needed to operate in a competitive manner, with insurers themselves.