How Do the Broker and Agency Channels Affect the Performance of Life Insurance Companies? The Case of Taiwan

• Main Authors: Yu-Rong Kang, 康玉蓉
• Other Authors: 陳業寧
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/21368143845921181831

碩士 === 國立臺灣大學 === 財務金融學研究所 === 99 === Taiwan''s insurance industry has been mature since 2001, the financial holding company act taking effect; therefore, the distribution channels of life insurance industry are diversiform and competitive now. In addition, because of the traits of policies, Taiwan''s insurance companies rely heavily on distribution channels. In the past, the major trend of channels is salesman, however, Bancassurance, which is included in insurance agency and broker channel, has became the most popular channel in life insurance industry recently. Hence, this research want to analyze the performance effect of broker and agency channel, the most important channel in Taiwan life insurance industry, and to understand which channel has positive influence. Based on the past studies, this research proposed four hypotheses which used new policies growth rate, new policies market share, loss ratio and policies persistency rate as dependent variables to run panel data regression model, and the independent variables are the portion of premium from broker and agency channel and the bank dummy variable to distinguish the effect of bank channels. The results showed there are channel conflicts and agency problem in Taiwan life insurance broker and agency channel, so it had negative influence on performance; nevertheless, there is cooperation relationship between bank and life insurance companies, bank channel had positive effect in performance. This study concluded that life insurance companies could promote bank channels and reduce the portion of traditional broker and agency channels.