A Study on the Management Strategies of Investment Linked Insurance Products

投資型保險商品乃為因應市場利率走低，提高壽險業之競爭力而設計之產品，適逢主管機關修正保險業資金運用之相關法令限制，投資型保險商品在台灣市場推行之時機似已來臨。本文根據英、美發展投資型保險商品之金融、產業環境背景，檢視當前環境狀況，評估我國是否具有發展投資型保險商品之條件與需求；並透過個案研究方式，對八家壽險公司進行深度訪談，以了解壽險業者對投資型保險商品之經營策略，經由個案分析比較，依循研究架構發展出相關命題，並據此歸納出研究結論及建議。本研究主要結論如下：(1)利率持續走低與法令的開放，象徵投資型保險商品時代臨。(2)外商公司未來將以經營投資型保險商品為主，本土公司將採取投資型保單與傳統保單並重的經營策略。(3)外商公司競爭優勢為擁有國外經驗，本土公司優勢為擁有較大的通路。(4)高所得、有投資共同基金或股票經驗、有退休金規劃者為業者主要的目標市場。(5)目標客戶及通路的選擇將影響產品策略。(6)公司業務員為主要行銷通路，銀行、證券公司為積極開發的次要通路(7)壽險公司今後的競爭取決於管理、服務和資金運用績效。To comply with the down trend of market interest rates, enhance the competibility of insurance industry, at this time the governmental institutions revised investment limitation of the related laws & regulations, it seems the time to promote investment linked insurance products is comming.This study will help us to overview current situation and evaluate whether Taiwan owns enough criteria and demand to develop investment linked insurance products based on the financial environmental background to develop investment linked insurance products. By extensive interviews with the major of eight insurance companies, the case study oriented approach will help us better understand the operation strategies of investment linked insurance products whatever insurance companies will take. We will build up key points following study structure and come out conclusions and related suggestions through case study comparisons.The main conclusion of this study are described as followings:(1) Due to going down interest rates and the regulation liberalization, this trend symbolically indicates that the era of investment linked insurance products is coming.(2) Foreign insurance companies will mainly focus on running investment linked insurance product business in future; local insurance companies will involved in both investment linked insurance product business and traditional insurance products business.(3) The competitive advantage of foreign companies is that they have strong international experiences; the strength of local companies is having sales channel infrastructure.(4) The target market will focus on those who have higher income, have experiences in mutual funds and stock investment, and have planning for pensions.(5) The choice of target market and channels will affect product strategies.(6) The agents are main marketing channels; bank and security companies will be subsequent channels we have to aggressively target on.(7) The competitive strength of insurance companies depends on management, services, and performances of utilizing capitals since now