台灣壽險業通路之經營與獲利能力研究

Abstract

台灣壽險業通路由壽險公司通路與保經代通路構成。近十餘年來保經代通路規模逐年成長，2023年度初年度保費收入保經代通路占比來到52.33％，已超過壽險公司通路。保經代通路業務員人數占比也自2000年8.19%逐年成長至2023年占比來到44.52%。 保經代通路可再區分為銀行保經代通路與一般保經代通路。由於銀行保經代通路占保經代通路比率較高，過去文獻大多以銀行保經代通路代表整體保經代通路。而近年來初年度保費收入，一般保經代通路占整體保經代通路比率持續成長，已從2005年占比9.59%，成長至2023年占比29.51%，一般保經代通路已有不可忽視的影響力。 本研究以保險業財務報告編製準則中的經營能力指標與獲利能力指標作為應變數；以保險發展中心「壽險統計資料庫(業內)」中的銀行保經代通路之初年度保費收入占比、一般保經代通路之初年度保費收入占比作為自變數。探討保經代通路中的銀行保經代通路與一般保經代通路對於壽險公司經營能力與獲利能力的影響。為壽險業經代通路的相關決策提供有價值的參考，以促進壽險業的發展。 本研究之實證結果顯示，保經代通路帶給壽險公司經營能力指標顯著正面效果，並帶給壽險公司獲利能力指標正面效果。根據本研究，壽險公司應專注於規劃符合市場需求與趨勢的壽險產品，並提升銀行保經代通路與一般保經代通路占比，將有助於提升壽險公司經營與獲利能力指標。

The distribution channels in Taiwan's life insurance industry are direct channels managed by life insurance companies and intermediate channels. Over the past decade, the intermediate channels have grown steadily in scale, with their share of initial annual premium income (the total amount of premiums collected from new policies in a year) reaching 52.33% in 2023, surpassing that of the life insurance companies' direct channels. The proportion of sales agents in the intermediate channels increased from 8.19% in 2000 to 44.52% in 2023. The intermediate channels can be divided into bancassurance and general intermediate channels. Due to the higher proportion of bancassurance channels, the previous literature often used the bancassurance channels to represent the entire intermediate channel. However, in recent years, the share of initial annual premium income from general intermediary channels has continuously increased, rising from 9.59% in 2005 to 29.51% in 2023, making the influence of general intermediary channels increasingly significant. This study uses the indicators of operational capacity and profitability from the financial reporting standards for the insurance industry as dependent variables; and the proportion of initial annual premium income from bancassurance channels and general intermediary channels from the Insurance Development Center's "Life Insurance Statistical Database (Internal)" , a comprehensive and reliable source of industry data, as independent variables. The research explores the impact of bancassurance channels and general intermediary channels on the operational capacity and profitability of life insurance companies. The findings provide valuable references for decisions related to intermediate channels in the life insurance industry, aiming to promote the industry's development. The empirical results show that intermediate channels have both significantly positive effects on the operational capacity and profitability of life insurance companies. Based on the findings, life insurance companies should focus on planning life insurance products that meet market demand and trends, and increase the proportion of bancassurance and general intermediate channels, which will help improve their operational capacity and profitability.