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臺大管理論叢
第
27
卷第
2S
期
171
competition (Chen et al., 2007), therefore, competition dynamics is feasible for discussing
topics related to bancassurance channel strategies.
2. Methodology
To explore whether the bancassurance channel strategies of life insurance companies
are affected by the bancassurance channel strategies employed by their rivals, this study
adopts empirical model. The response variable signifies the bancassurance channel strategy
variation variable of the life insurance company. Regarding the evaluation of bancassurance
strategy, this study adopts variation in the ratio of bancassurance premium income to total
premium, as well as variation in the total amount of the bancassurance channel premium
income, as proxy variables. The explanatory variable denotes variation in the bancassurance
channel strategies employed by the rivals of the life insurance company; specifically, this
variable is calculated as the difference in bancassurance data between different years. Three
types of rival are defined. In terms of premium incomes, the first type pertains to rivals
ranked one place below or above the target company. The second type involves rivals ranked
below the target company. The third type concerns rivals ranked above the target company.
This study focuses on the more competitive companies, thus companies that are not as
competent are excluded from the discussion. (e.g., life insurance companies with unchanged
bancassurance channel strategies and those with a bancassurance market share rate of < 1%).
Moreover, the interaction between the variation in the bancassurance channel strategies and
the variation in the amount of premium income with the rival is used to investigate the
moderating effect of competition intensity, thereby verifying whether insurance companies
of similar rankings undertake more drastic response measures against each other. This study
collects the financial and sales data of Taiwanese life insurance companies over a 9-year
period (from 2005 to 2013), exploring how the bancassurance channel strategies of target
companies are affected by the behaviors of their rivals.
3. Empirical Results
Incorporating all life insurance companies in the analysis shows that companies do not
undertake measures in response to their rivals’ strategies. This might be attributed to how
less competitive insurance companies do not have sufficient resources or capacity for
observing and punctually responding to their rivals’ actions. By contrast, when only highly
competitive companies are examined in the empirical analysis, the results verify that these
companies undertake corresponding measures when their rivals adjust their bancassurance