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壽險公司銀行保險通路策略會不會受到競爭者行為的影響：動態競爭觀點之探討
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channel strategies. The results provide evidence supporting the notion that competitors’
strategies affect insurers’ bancassurance strategies.
This study separately examines the competition effects generated by companies that
rank above and below their rivals, revealing that regardless of variation in bancassurance
premium or strategies, changes in the strategies of leading rivals significantly and positively
affect the strategies of the target companies. Exploration of the moderating effect of
competition intensity confirms that when the premium incomes of target companies differ
slightly from those of their rivals, they employ increasingly drastic measures in response to
their rivals’ actions.
Finally, this study employs different estimation methods and definitions for competition
capacity to select adequate samples and conduct robustness testing, verifying that regardless
of using the fixed effect model, two-stage least squares method, or different inclusion
criteria; the empirical results concur with the original estimations.
4. Conclusion
Past literature has rarely discussed or empirically verified whether the sales channel
strategies of life insurance companies are affected by the behaviors of their rivals. However,
as the importance of bancassurance continues to increase, both the practical and theoretical
aspects of this topic merit further exploration. This study analyzed the effect of competitors’
activities on the bancassurance strategy from the competitive dynamics perspective. We
investigated strategy and competition in the bancassurance business using data from
Taiwan’s life insurance companies from 2005 to 2013. For bancassurance competitive
actions, we employed net bancassurance premium change and percentage changes in the
bancassurance business as strategic measures of bancassurance. The empirical results reveal
samples with higher competitive tension and competitive capabilities, and they show positive
relationships between competitors’ actions and competitive actions in the bancassurance
business.
The findings of this study can help mitigate this research gap, enabling further
understanding of bancassurance competition strategies employed by life insurance
companies. This study empirically verifies the presence of notable competition behaviors in
bancassurance sales channels, and indicates that life insurance companies should improve
their capacity in understanding rivals’ strategies and using flexible bancassurance channels to
create competitive advantages. The empirical results of this study can serve as a reference for
insurance companies to formulate managerial strategies and facilitate the expansion of sales
channels.