방카슈랑스와 소비자 편익 제고: 역경쟁과 결합판매 과제

The regulatory revisions on the second phase bancassurance in K orea can deterbanks from conducting unfair business practices leveraging on t heir relatively strongbargaining power. However the current revisions may also elimin ate the possibilitythat innovative new entrants overtake the incumbents, thus even tually reducingthe market efficiency as a whole. Also the regulation has some aspects which arenot incentive comparable, so it costs more to enforce it than o therwise. Therefore inorder to make the bancassurance market more fair and effective as well as toenhance the consumer’ s value extensively, it is essential to eradicate the roots ofproblems through incentive-compatible regulations which align b anks’interestswith those of insurance companies and consumers. As for policy measures to copewith ‘reverse competition’incentive between insurance companies and banks, wepropose ①introducing an exclusive agency system, ②rearranging c ommissionpayment structure, and ③setting up the minimum loss ratio. As f or regulatorymeasures to eliminate incentive for ‘tie-in sale’between banks and consumers, wesuggest ① revising the existing regulations on sales practices, ②strengthening theconsumer’s rights, and ③improving the transparency of insurance products byreinforcing information disclosure.