Distribution Trends in the Asian Insurance Market

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
30 June 2010


The distribution channels for the insurance market in Asian countries are diversifying.

Life insurance companies in many Asian markets have always depended on individual agents as their main sales channel. However, the market share of this channel is decreasing, while that of banks is growing every year. Asian insurance companies are moving away from a sales model that is built around agents, developing a diverse model that encompasses various channels such as agents, banks, direct sales, and financial advisers. Celent examines this in a new report, Distribution Trends in the Asian Insurance Market.

Although the level of development of bancassurance varies with different countries and regions in Asia, insurance sales through the banking network are becoming a common trend. In some Asian markets, the premium income for new life insurance businesses generated via banks has exceeded the traditional model of selling via individual agents.

“In some Asian markets, telemarketing has become the next big thing after the selling of insurance through banks,” says Wenli Yuan, Senior Analyst with Celent’s Asian Financial Services Group and author of the report. “A growing number of insurance companies in Asia are collaborating with organizations with huge customer databases, such as banks and public utilities departments, to reach out to their customers through database marketing. Simple and lowpremium insurance products such as household property insurance, accident insurance, and health insurance are promoted through this channel.”

Besides insurance-linked factors such as the maturity of the insurance market, customers' preferences for special insurance products, staff quality, market competition, and different pricing policies for different channels, the market share of the distribution channels is also influenced by factors such as the local economy, the culture, and the banking sector, as well as the regulation of the financial sector. Although Asian insurance distribution channels are diversifying, the potential share of each channel varies greatly based on the market.

In addition to providing an overview of general trends, this report looks at distribution channels in mainland China, Hong Kong, Taiwan, Singapore, Malaysia, Japan, South Korea, and India.