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市場調查報告書

中國的銀行保險市場:人壽保險、產物保險及債權人保險

Bancassurance in China: Life, Non-Life and Creditor Insurance

出版商 Finaccord Ltd. 商品編碼 233483
出版日期 內容資訊 英文 65 Pages
商品交期: 最快1-2個工作天內
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中國的銀行保險市場:人壽保險、產物保險及債權人保險 Bancassurance in China: Life, Non-Life and Creditor Insurance
出版日期: 2014年12月01日 內容資訊: 英文 65 Pages
簡介

本報告依據中國100家銀行的調查結果,提供13種保險商品的各銀行的流通佔有率驗證、市場規模、成長率、銀行保險津貼比率、運用模式,及主要銀行保險業者的實際成果等分析,為您概述為以下內容。

摘要整理

第1章 簡介

  • 關於本報告
  • 報告的合理性
  • 調查手法
  • 市場資料
  • 定義
  • 簡稱及匯率
  • PartnerBASE及補充的市場資料
  • 關於Finaccord

第2章 市場背景

  • 對象銀行以及其他的貸款機關
  • 銀行市場簡介
  • 銀行保險的簡介

第3章 投資相關的人壽保險及退休存款

  • 保險市場的規模與成長率
  • 銀行的流通佔有率
  • 銀行保險津貼比率、運用模式及合作
    • 投資相關的人壽保險
    • 退休存款
    • 主要銀行保險業者的實際成果

第4章 保障相關的人壽保險

  • 保險市場的規模與成長率
  • 銀行的流通佔有率
  • 銀行保險津貼比率,運用模式及合作
    • 生命風險保險
    • 重症疾病保險
    • 收入保障保險
  • 主要銀行保險業者的實際成果

第5章 障礙、疾病保險

  • 保險市場的規模與成長率
  • 銀行的流通佔有率
  • 銀行保險津貼比率、運用模式及合作
    • 傷害保險
    • 醫療費用保險
    • 健康/醫院快取計劃
  • 主要銀行保險業者的實際成果

第6章 個人用汽車保險、居家保險

  • 保險市場的規模與成長率
  • 銀行的流通佔有率
  • 銀行保險津貼比率、運用模式及合作
    • 個人用汽車保險
    • 居家保險
  • 主要銀行保險業者的實際成果

第7章 債權人保險

  • 消費者金融市場的規模與成長率
    • 抵押貸款
    • 非抵押貸款
    • 信用卡以及其他的墊付卡
  • 債權人保險的津貼比率、運用模式及合作
    • 不動產相關的債權人保險
    • 消費者金融及信用卡相關的債權人保險
    • 債權人保險的風險涵蓋範圍
  • 債權人保險市場的規模與成長率

圖表

本網頁內容可能與最新版本有所差異。詳細情況請與我們聯繫。

目錄

‘Bancassurance in China: Life, Non-Life and Creditor Insurance’ is a study and related PartnerBASE™ dataset examining the provision of life, non-life and creditor insurance by banks and other lending institutions in China.

Drawing on the results of a survey of over 100 banking entities in China, the study verifies the percentage of organisations investigated that distribute each of the following 13 types of insurance: accident insurance, creditor insurance related to consumer finance, creditor insurance related to credit cards, creditor insurance related to mortgages, critical illness insurance, health / hospital cash plans, household insurance, income protection insurance, investment-related life insurance, medical expenses insurance, personal motor insurance, retirement savings, and risk life insurance.

For those banking entities that are active in one or more of these fields, the reports ascertain the operating models that they use to source the type of insurance in question (e.g. external, joint venture or captive underwriters) and the identity of the specific providers used. This information is then displayed in terms of the weighted share of partnerships of these providers, which takes into account the number of retail customers of the partner banking entities, thus highlighting those insurance companies that hold the distribution relationships that offer the most potential.

You may be able to use this report and the PartnerBASE™ dataset that accompanies it in one or more of the following ways:

  • gain access to a source of information that provides a comprehensive overview of the provision of personal insurance products by all significant banking entities in China;
  • identify partnership opportunities for the same personal insurance products that may arise either because a banking institution is not currently active or because there is scope for replacing an existing initiative;
  • understand which underwriters and other product providers have been successful in establishing distribution relationships with the most important banking entities in China;
  • assess how the evolving regulatory environment may open up or block opportunities for your organisation to sell through the bank distribution channel;
  • appreciate the magnitude of the opportunity to sell personal insurance products through banks and other lending institutions in China.

Table of Contents

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

  • What is this report about?
    • Distribution partnerships with banks and other lending institutions constitute the focus of this report
  • Rationale
    • Bancassurance offers a significant distribution channel for life and non-life insurance in China...
  • Methodology
  • Survey of banks and other lending institutions
    • Finaccord's survey focuses on nationwide and near-nationwide bancassurance agreements
  • Market data
  • Definitions
    • Investment-related life insurance
    • Retirement savings
    • Risk life insurance
    • Critical illness insurance
    • Income protection insurance
    • Accident insurance
    • Health / hospital cash plans
    • Medical expenses insurance
    • Personal motor insurance
    • Household insurance
    • Creditor insurance
    • Mortgages, consumer finance and credit cards
    • Weighted provider share of partnerships
    • Operating models
  • Abbreviations and exchange rates
  • PartnerBASE and market data annexe
  • Finaccord

2.0 MARKET BACKGROUND

  • Banks and other lending institutions covered
  • Introduction to the banking sector
    • By total number of retail customers, Postal Savings Bank of China is a market leader...
    • ... followed by the big four state-owned commercial banks
    • In terms of its total assets, ICBC was likely to be the largest bank in the world at the end of 2014
    • Various other types of institution also compete in China's banking market...
    • ... including banks that are owned in part by private investors...
    • ... and more than 140 city commercial banks, some of which have already carried out IPOs
    • The number of rural commercial banks has expanded rapidly in recent years...
    • ... and they are particularly adept at reaching customers who have not previously banked
    • In the context of the market as a whole, foreign banks in China occupy a rather marginal position
  • Introduction to bancassurance
    • China's bancassurance market remains somewhat under-developed in terms of product diversification...
    • ... in spite of the introduction in 2003 of regulations that were designed to encourage it...
    • New regulations introduced in 2010 and 2011 have somewhat disrupted the progress of bancassurance
    • There has been a gradual shift towards major banks creating captive or joint venture insurance firms
    • Co-owners of joint ventures include AXA, BNP Paribas, Cigna, Prudential and Sun Life Financial
    • The most recent regulations relevant to bancassurance have focused on consumer protection
    • Eight Chinese banks promote ten or more of the 13 policy types investigated...
    • ... but a half distribute none at all

3.0 INVESTMENT-RELATED LIFE INSURANCE AND RETIREMENT SAVINGS

  • Insurance market size and growth
    • The value of the Chinese market for investment-related life insurance reached a new high point in 2014
    • The popularity of unit-linked insurance products has fluctuated greatly in recent years
    • There is a market gap for the provision of pension products for Chinese citizens with higher incomes
  • Distribution share of banks
    • Banks' share of distribution for life insurance has begun growing again
  • Bancassurance provision rates, operating models and partnerships
    • Investment-related life insurance
      • Most banks selling forms of investment-related life insurance do so with multiple product providers...
      • ... and these even include several of those that own captive or joint venture insurers
      • China Life is ranked first by weighted share of partnerships, followed by PICC and Ping An...
      • ... by virtue of 16 partnerships, all of which are non exclusive...
      • ... and secures around one third of its total premium income from the bancassurance channel
      • Across PICC's six relationships in this field, only that with Industrial Bank is exclusive to it
      • Ping An works for investment-related life insurance with five banks in addition to Ping An Bank
      • Two of CPIC's five relationships with banks in this arena are exclusive ones
      • Minsheng Life holds just one distribution partnership albeit one with vast potential
      • Aside from CPIC and PICC, ten other insurers hold apparently exclusive relationships in this domain
    • Retirement savings
      • The number of banks offering retirement savings products has increased quite significantly in recent years
      • Exactly a half of those active in this sphere work with multiple external providers
      • Several of China Life's bank partnerships in this field are apparently exclusive ones
      • Taikang is ranked second in this field by weighted share of partnerships...
      • ... followed by CPIC, China Post Life and New China Life
      • Eight other providers hold one exclusive partnership for retirement savings
    • Performance of key bancassurance underwriters
      • With one exception, the market shares of individual captive and joint venture providers remain quite low

4.0 PROTECTION-RELATED LIFE INSURANCE

  • Insurance market size and growth
    • The market for protection-related life insurance has been declining in real terms
    • The market for term life insurance is traditionally limited but now being boosted by micro-insurance schemes
    • Critical illness insurance is an important product in China and often helps to meet medical expenses
  • Distribution share of banks
  • Bancassurance provision rates, operating models and partnerships
    • Risk life insurance
      • Risk life insurance is the policy type most commonly available from Chinese banks...
      • ... and the provision rate has increased quite substantially in recent years
      • China Life is a provider to over a half of the 50 banks selling this type of policy...
      • ... which is a far higher number than its closest rivals, PICC and Taikang
      • CCB Life is active in this field as both a captive and external underwriter
      • MetLife benefits from exclusive ties for risk life insurance with a couple of foreign banks
    • Critical illness insurance
      • Bank distribution of critical illness cover has become increasingly widespread in recent times...
      • ... given a doubling of the provision rate between Finaccord's two surveys
      • CPIC lies just behind China Life in terms of its weighted share of partnerships in this field
      • Third-ranked BOC Insurance sells only through its parent, Bank of China...
      • ... but the providers ranked fourth and fifth both collaborate with a number of banks
      • Taikang is used as a provider of critical illness insurance by Fudian Bank, Harbin Bank and Industrial Bank
    • Income protection insurance
  • Performance of key bancassurance underwriters

5.0 ACCIDENT AND HEALTH INSURANCE

  • Insurance market size and growth
    • Between 2010 and 2014, health insurance premiums easily outgrew accident insurance premiums
    • The various types of accident insurance sometimes overlap in their cover
    • Despite reforms there is still a funding gap when it comes to covering medical expenses in China
    • While private medical insurance has great potential the market is hampered by underwriting risks
    • Bancassurance is only just establishing itself as a distribution channel for medical expenses insurance
  • Distribution share of banks
  • Bancassurance provision rates, operating models and partnerships
    • Accident insurance
      • The availability of accident insurance via banks has also expanded very significantly
      • Taikang benefits from partnerships with Agricultural Bank of China plus four city commercial banks
    • Medical expenses insurance
      • The provision rate for medical expenses cover is relatively low but has also increased substantially
      • CIGNA & CMC is ranked second by weighted share of partnerships thanks to two major relationships
      • CITIC-Prudential is utilised by two banks in this sphere in addition to China CITIC Bank
    • Health / hospital cash plans
      • Banks are a bit less likely to offer health or hospital cash plans than other types of accident and health policy
      • Three providers are dominant in the analysis of weighted share of partnerships...
      • ... in which China Life comes outside of the top five in spite of three relationships
    • Performance of key bancassurance underwriters
      • A number of key bancassurers underwrite accident and health cover as life insurance policies

6.0 PERSONAL MOTOR AND HOUSEHOLD INSURANCE

  • Insurance market size and growth
    • The value of the market for personal motor cover remains more than three times that for household cover
    • A basic motor liability insurance was made compulsory in China in 2006
    • Compulsory traffic accident insurance open to foreign firms in 2012
    • The market for property cover is still dominated by commercial insurance buyers...
    • ...and most banks do not require mortgage borrowers to take out home insurance...
    • ...while the government phased out a compulsory mortgage-related insurance product several years ago
  • Distribution share of banks
  • Bancassurance provision rates, operating models and partnerships
    • Personal motor insurance
      • Comparatively few banks in China have an arrangement for selling personal motor insurance...
      • ... although Agricultural Bank of China is one of those that does, using Ping An as provider in this context
    • Household insurance
      • Through a single (but exclusive) link with ICBC, Huatai is ranked second behind Ping An
      • Anbang has deals with four banks although its weighted share of partnerships is relatively low
    • Performance of key bancassurance underwriters

7.0 CREDITOR INSURANCE

  • Consumer lending market size and growth
    • Mortgage lending
      • Mortgage balances outstanding are on track to exceed USD 2 billion in 2015
    • Non-mortgage lending
      • Total non-mortgage consumer lending balances more than tripled in value between 2010 and 2014...
    • Credit and other pay later cards
      • ... and credit cards in circulation grew strongly in each year over the same period of time
  • Creditor insurance provision rates, operating models and partnerships
    • Creditor insurance linked to mortgages
      • Bona fide creditor insurance is on offer from relatively few mortgage lenders in China
      • By weighted share of partnerships, BOC Insurance and CCB Life are tied in second position
    • Creditor insurance linked to consumer finance
      • Policies linked to consumer finance have been introduced by several banks in recent years...
      • ... with Ping An visible as the most prominent provider in this sphere
    • Creditor insurance linked to credit cards
      • Schemes for credit card payment protection insurance have yet to be developed
  • Creditor insurance risk coverage
    • Creditor insurance products in China are limited to cover for death and permanent disability
  • Creditor insurance market size, growth and forecast
    • The creditor insurance market is likely to have expanded quite rapidly in recent years...
    • ... and the outlook to 2017 is also positive

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

  • Overview of bancassurance provision rates for different types of insurance in China, 2014

1.0 INTRODUCTION

  • Banks and other lending institutions in China contacted by Finaccord, segmented by type

2.0 MARKET BACKGROUND

3.0 INVESTMENT-RELATED LIFE INSURANCE AND RETIREMENT SAVINGS

  • Gross written premiums for investment-related life insurance and retirement savings in China, 2010 to 2014
  • Gross written premiums for investment-related life insurance and retirement savings in China, 2010 to 2014 (table)
  • Distribution share of banks in total life insurance in China, 2010 to 2013
  • Bancassurance provision of investment-related life insurance in China, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of retirement savings in China, 2014: provision rate, operating models and weighted provider share of partnerships
  • Market share in total life insurance of key bancassurance underwriters in China, 2009 to 2013

4.0 PROTECTION-RELATED LIFE INSURANCE

  • Gross written premiums for protection-related life insurance in China, 2010 to 2014
  • Gross written premiums for protection-related life insurance in China, 2010 to 2014 (table)
  • Bancassurance provision of risk life insurance in China, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of critical illness insurance in China, 2014: provision rate, operating models and weighted provider share of partnerships

5.0 ACCIDENT AND HEALTH INSURANCE

  • Gross written premiums for accident and health insurance in China, 2010 to 2014
  • Gross written premiums for accident and health insurance in China, 2010 to 2014 (table)
  • Bancassurance provision of accident insurance in China, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of medical expenses insurance in China, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of health / hospital cash plans in China, 2014: provision rate, operating models and weighted provider share of partnerships
  • Market share in total non-life insurance of key bancassurance underwriters in China, 2009 to 2013

6.0 PERSONAL MOTOR AND HOUSEHOLD INSURANCE

  • Gross written premiums for personal motor and household insurance in China, 2010 to 2014
  • Gross written premiums for personal motor and household insurance in China, 2010 to 2014 (table)
  • Bancassurance provision of personal motor insurance in China, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of household insurance in China, 2014: provision rate, operating models and weighted provider share of partnerships

7.0 CREDITOR INSURANCE

  • Residential mortgage lending balances outstanding in China (absolute and per capita), 2010 to 2014
  • Consumer non-mortgage lending balances outstanding in China (absolute and per capita), 2010 to 2014
  • Credit and other pay later cards issued and per capita in China, 2009 to 2013
  • Key data points for the consumer lending market in China, 2010 to 2014
  • Provision of creditor insurance linked to mortgages in China, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of creditor insurance linked to consumer finance in China, 2014: provision rate, operating models and weighted provider share of partnerships
  • Risk coverage of creditor insurance policies in China, segmented by type of underlying product, 2014
  • Creditor insurance gross written premiums in China, segmented by policy type, 2010, 2014 and 2018
  • Creditor insurance gross written premiums in China, segmented by cover type, 2010, 2014 and 2018
  • Creditor insurance gross written premiums in China, segmented by policy and cover type, 2010, 2014 and 2018
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