This thesis proposes the Korean bancassurance model through review and study of the European and American bancassurance literatures and cases. Firstly, it reviews the concept of the bancassurance, current status of bancassurance market and proliferation of bancassurance and market share of European bancassurers. Secondly, through the case study, it examines the European and American bancassurance. Thirdly, it compares the American model with the European model of bancassurance.
After the literature reviews and case studies, based on McKinsey’s “Steps to Bancassurance Start-up” and the Korea Insurance Development Institute’s “Insurance and Bank Work Process Chart”, it proposes the Korean model of bancassurance along with five important consideration issues. The five consideration issues are ownership of customer, compensation (incentive) system, utilization of insurance work force, product pricing and service, and settlement of the competitive relationship between distribution channels.
The possibility of applying the e-commerce to bancassurance model was examined in the thesis through literature review. Based on the examination, it proposes the bancassurance e-commerce model.
