银保渠道，挥别“代销”？

Core Insights - The insurance channel through banks is showing signs of recovery after a period of transformation, with its revenue share returning to 50% for the first time in 15 years [1][2] - The recovery is driven by multiple factors including policy changes, market dynamics, and a shift towards deeper strategic cooperation between banks and insurance companies [1][4][11] Policy Changes - The "reporting and banking integration" policy has been a significant catalyst for the transformation of the bank-insurance channel, aiming to standardize fee structures and reduce costs [4][5] - The cancellation of the "one-to-three" restriction allows banks to collaborate with more insurance companies, further enhancing cooperation opportunities [6][7] Market Dynamics - The bank-insurance channel is becoming a strategic alternative for insurance companies as individual insurance channels face growth challenges [11][12] - Banks are increasingly viewing bank-insurance business as a key driver for non-interest income, especially in a low-interest-rate environment [12][13] Performance Metrics - In the first half of the year, the bank-insurance channel's premium income growth outpaced individual insurance channels, with major insurance companies reporting significant year-on-year growth [2][3] - Key performance indicators show that the new business value from bank-insurance channels has increased significantly, with some companies reporting over 100% growth [3][9] Strategic Cooperation - The bank-insurance collaboration is evolving from a simple product distribution model to a deeper strategic alliance focused on customer needs [15][17] - Insurance companies are enhancing their strategies by improving product offerings, expanding distribution networks, and leveraging digital tools to increase efficiency [16][17] Customer Demand - There is a notable shift in customer preferences towards long-term, stable insurance products, driven by demographic changes and economic conditions [13][14] - The current market indicates that a small percentage of bank customers are utilizing insurance products, highlighting significant potential for growth in this area [14]