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A Study on GA Business Model Using Generalized Logit Model and Multiple Correspondence Analysis

  • Journal of Insurance and Finance
  • 2013, 24(1), pp.139-168
  • Publisher : Korea Insurance Research Institute
  • Research Area : Social Science > Business Management

Heuiju Chun 1 Ahn Chul-Kyung 2

1동덕여자대학교
2보험연구원

Accredited

ABSTRACT

In this study, on the basis of broad questionnaire about GA, we tried to find GA business model directions using generalized logit model and correspond analysis with factors affecting them, which are GA management strategy, sales rule of product, things to be improved in insurance distribution, hindrance of GA growth, threatening channel of GA growth. As a result of generalized logit model, scores such as price to security, commission payment method, relationship with GA employee as a sales product criteria are high, GA prefer financial centric or network centric GA model. On the contrary, as sales commission level as a sales product criteria, enlargement of sales commission distribution as urgence of policy issue are high, GA prefer sales centric GA model. As a result of correspondence analysis, sales centric GA model is related with new solicit expansion, other company solicit acquisition,solicit education about compliance and incomplete sale, management of conflict among employees, financial management such as solicit salary. Sales centric GA model think new channel such as TM, alliance, internet as most threatening channel. Financial centric GA model is related with construction of financial design service, sales expansion, management of solicit settlement rate, solicit specialization, coping with policy and supervision change, commission negotiation with insurance company and think bancassuance as most threatening channel. On the contrary,network centric GA model has relationship with continuous contract rate, computer service system construction, supervision of branch managers, manager cultivation and think insurance dircet channel as threatening channel.

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