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An Analysis on Effect of Bancassurance Channel on Insurance Claims

  • Journal of Insurance and Finance
  • 2017, 28(2), pp.37-58
  • DOI : 10.23842/jif.2017.28.2.002
  • Publisher : Korea Insurance Research Institute
  • Research Area : Social Science > Business Management
  • Received : February 6, 2017
  • Accepted : May 18, 2017
  • Published : May 31, 2017

OUH, CHANGSU 1 Heemun Cheong 2

1한양대학교
2국민은행 방카상품팀

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ABSTRACT

The purpose of this study is to analyze the characteristics of independent variables, which influence the mortality rate of life insurance contracts. This paper is also focused on whether bancassurance channel has moderating effects on mortality rate compared with non-bancassurance channel. This study used hierarchical logistic regression model, which is composed of Model 1, Model 2, and Model 3 to analyze moderating effects of bancassurance channel. Model 1 analyzed the characteristics of mortality rate using logistic model with individual independent variables such as gender, contract age, job group (risk level), death benefit and protection influence degree. Model 2 analyzed characteristics of mortality rate using logistic model with additional variable (bancassurance channel choice variable), which is used as moderating variable in Model 3. Model 3 analyzed whether bancassurance channel has moderating effects on mortality rate using logistic regression model. This study shows that mortality rate (the odds ratio) of bancassurance channel policyholders was lower than that of non-bancassurance channel policyholders when ages increase. Moreover, it was showed that mortality rate (the odds ratio) of bancassurance channel policyholders was lower than that of non-bancassurance channel policyholders when risk level and insured amount became higher. This paper shows bancassurance channel has moderating effects on mortality rate of life insurance contracts consequentially.

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