The significance of consumer research in the bank insurance industry in 1..

The bancassurance industry is an important part of the financial services industry, and its business involves savings, loans, payments, financial management, investment, security and other aspects, providing important support for social and economic development and people's well-being. Consumers in the bancassurance industry are individuals or institutions that use or potentially use bancassurance products and services, and are core stakeholders in the bancassurance industry in large numbers, diverse structures and differentiated needs.

Consumer research in the bancassurance industry refers to the process of collecting, analyzing and explaining the characteristics, needs, behaviors, satisfaction, loyalty and other information of consumers in the bancassurance industry through various ways and means. its purpose is to understand the current situation and trend of consumers, and to provide basis and guidance for strategic decision-making, product innovation, service optimization, risk management, marketing and so on.

Consumer research in the bancassurance industry is of great significance, mainly in the following areas:

It helps to grasp consumer demand and improve the quality and competitiveness of products and services. Consumer research in the bancassurance industry can help bancassurance institutions to gain an in-depth understanding of consumer demand characteristics, changes in preferences, pain points, etc., so as to design and provide products and services that are more in line with consumer expectations and needs, and improve consumer satisfaction and loyalty. Enhance the market share and competitive advantage of bancassurance institutions.

It helps to discover consumer behavior and optimize marketing strategies and channels. Consumer research in the bancassurance industry can help bancassurance institutions master consumers' purchasing behavior, use behavior, recommend behavior, etc., so as to formulate and implement more effective marketing strategies and channels, such as positioning target markets, selecting appropriate prices, promotions, and advertising., Distribution and other means to improve the visibility, awareness, influence and sales of bancassurance products and services.

It helps to assess consumer risk and strengthen risk control and management. Consumer research in the bancassurance industry can help bancassurance institutions identify and assess consumers' credit risk, moral risk, market risk, legal risk, etc., so as to take corresponding risk control and management measures, such as improving the consumer credit evaluation system, strengthening consumer education and guidance, and establishing consumer complaints and rights protection mechanisms to reduce the operational and compliance risks of bancassurance institutions.

It helps to promote consumer relations and build a harmonious financial ecology. Consumer research in the bancassurance industry can help bancassurance institutions to establish and maintain good relationships with consumers, enhance consumer trust and recognition, enhance consumer reputation and influence, and form a good brand image and reputation. At the same time, consumer research in the bancassurance industry can also provide valuable data and information for regulators, industry associations, academic institutions, etc., provide support and reference for the standardized development and innovative development of the industry, and contribute to the construction of a harmonious financial ecological environment.

The difficulties of consumer research in the 2. bank insurance industry.

Consumer research in the bancassurance industry is a complex and professional work. Its process involves multiple links such as consumer identification, sampling, interviews, questionnaire design, data collection, data analysis, data presentation, and result application. There are different difficulties and challenges in each link, which require full attention and proper response from bancassurance institutions and research institutions. This paper summarizes the main difficulties of consumer research in the bancassurance industry from four aspects: consumer demand, consumer behavior, consumer information, and consumer participation, as follows:

The diversity and complexity of consumer demand. The needs of consumers in the bancassurance industry are affected by many factors, such as age, gender, income, education, occupation, family, region, culture, values, etc. These factors lead to the differentiation, multi-level and dynamic characteristics of consumer demand, which makes it difficult to identify and meet consumer demand. At the same time, the demand of consumers in the bancassurance industry is also affected by the market environment, policies and regulations, social events, technological innovation, etc. These factors lead to the uncertainty, instability, unpredictability and other characteristics of consumer demand, which makes the grasp and prediction of consumer demand complicated.

irrationality and instability in consumer behavior. The behavior of consumers in the bancassurance industry does not completely follow the rational hypothesis, but is influenced by consumers' emotions, attitudes, cognition, motivation, interpersonal relationships, social influences, etc., thus showing irrational, inconsistent, non-linear and other characteristics, making it difficult to explain and predict consumer behavior. At the same time, the behavior of consumers in the bancassurance industry is also affected by changes in the external environment, such as market competition, product innovation, service improvement, policy adjustment, and public opinion, which shows the characteristics of instability, unsustainability, and unreliability. The tracking and evaluation of consumer behavior becomes complicated.

Sensitivity and confidentiality of consumer information. The information of consumers in the bancassurance industry involves consumers' personal privacy, financial status, credit records, insurance contracts, claims applications, etc. These information are very sensitive and important to consumers. Consumers are usually unwilling or inconvenient to disclose or provide this information to external agencies or personnel, making it difficult to obtain and use consumer information. At the same time, the information of consumers in the bancassurance industry is also restricted and protected by laws and regulations, industry norms, moral principles, etc. These rules require bancassurance institutions and research institutions to abide by relevant regulations, respect the rights of consumers, protect the interests of consumers, and prevent the leakage, abuse and tampering of consumer information in the process of collecting, storing, analyzing, transmitting and using consumer information, the processing and management of consumer information becomes complicated.

Low and uneven consumer engagement. The participation of consumers in the bancassurance industry refers to the initiative, enthusiasm, cooperation and honesty of consumers in the research process. These factors directly affect the quality and effect of the research. However, the participation of consumers in the bancassurance industry is generally low. The main reasons are as follows: First, consumers lack interest and enthusiasm in the products and services of the bancassurance industry, and think that these products and services are related to their lives and work. The relationship is not big, or they think that these products and services are similar, and there is not much difference and choice space, so they lack motivation and willingness to participate in research; second, consumers lack trust and recognition in the research of bancassurance industry, believing that these surveys are for the benefit of bancassurance institutions, not for the benefit of consumers, or that the results and suggestions of these surveys will not be adopted and implemented by bancassurance institutions, so they lack confidence and expectation to participate in the research; third, consumers lack time and energy in the research of bancassurance industry, think of these surveys as an additional burden and interference, rather than a valuable participation and contribution, or think that the methods and content of these surveys are too complex and lengthy, so they lack patience and focus on participating in the research. On the other hand, the participation of consumers in the bancassurance industry is also unbalanced, which is mainly manifested in the following aspects: First, the participation of different types of consumers is different. Generally speaking, high-income, high-education, The participation of professional consumers is higher than that of low-income, low-education, and low-professional consumers, because the former has more needs and concerns for the products and services of the bancassurance industry, there are also more knowledge and experience, while the latter is the opposite; second, the participation of consumers in different channels is different. Generally speaking, the participation of consumers in online channels is higher than that of consumers in offline channels, because the former has more understanding and contact with the products and services of the bancassurance industry, and also has more convenience and autonomy, while the latter is the opposite; third, the participation of consumers at different stages is different, generally speaking, the participation of consumers before and after purchase is higher than that of consumers in purchase, because the former has more expectations and comments on the products and services of the bancassurance industry, as well as more feedback and suggestions, while the latter is the opposite.

Countermeasures of consumer research in 3. bank insurance industry

In view of the difficulties of consumer research in the bancassurance industry, this paper puts forward some countermeasures and suggestions from four aspects: research methods, research techniques, research incentives, and research applications, as follows:

Research methods. In order to cope with the diversity and complexity of consumer demand, bancassurance institutions and research institutions should adopt a variety of research methods and channels to improve the effectiveness and coverage of research. Specifically, we can combine quantitative and qualitative methods, such as questionnaire survey, in-depth interview, focus group, laboratory test, scene simulation, etc., to obtain consumers' basic information, demand characteristics, preference changes, pain points, etc.; we can combine active and passive channels, such as telephone access, email sending, website filling, social media, third-party platforms, etc, in order to increase the opportunities and ways of consumer contact and participation, regular and unconventional points of time can be combined, such as before purchase, during purchase, after purchase, holidays, special events, etc., to capture the dynamics and trends of consumer demand.

Research techniques. In order to deal with the irrationality and instability of consumer behavior, bancassurance institutions and research institutions should use big data and artificial intelligence technology to improve the accuracy and real-time of research. Specifically, big data technologies, such as data mining, data analysis, data visualization, etc., can be used to collect and process massive consumer behavior data, such as purchase data, usage data, recommend data, etc., to reveal consumer behavior patterns, behavior influences, behavior values, etc.; artificial intelligence technologies, such as machine learning, deep learning, natural language processing, etc., can be used, to simulate and predict consumer behavior logic, behavior preferences, behavior intentions, etc., to provide consumer behavior explanation, behavior prediction, behavior recommend, etc.

Research incentives. In order to deal with the sensitivity and confidentiality of consumer information, bancassurance institutions and research institutions should strengthen consumer education and incentive mechanisms to improve consumer trust and participation. Specifically, consumer education can be strengthened, such as through publicity, training, and consulting.

Consumers convey the significance and value of consumer research in the bancassurance industry, explain the legality and compliance of bancassurance institutions and research institutions in the collection and use of consumer information, eliminate consumers' doubts and worries, and increase consumers' awareness and understanding. Consumer incentives can be strengthened, such as through rewards, lucky draws, concessions, gifts, points, etc., to provide consumers with certain material or spiritual returns, stimulate consumer interest and motivation, increase consumer participation and contribution.

Research applications. In order to deal with the low and uneven participation of consumers, bancassurance institutions and research institutions should pay attention to consumer experience and satisfaction in order to improve consumer loyalty and reputation. Specifically, we can pay attention to consumer experience, such as optimizing the way and content of research to make it simpler, more convenient, more interesting and more meaningful, improve consumer research experience and increase consumer research fun; we can pay attention to consumer satisfaction, such as timely feedback of research results and suggestions, to show consumers the effect and value of research, improve consumer research satisfaction, and increase consumer research trust; we can pay attention to consumer loyalty, such as through continuous improvement of products and services, according to the needs and feedback of consumers, improve the quality and competitiveness of products and services, improve consumer loyalty, and increase consumer re-purchase and recommend; we can pay attention to consumer word-of-mouth, such as through the establishment and maintenance of good consumer relations, enhance consumer trust and recognition, improve consumer word-of-mouth and influence, and form a good brand image and reputation.

4. Conclusion

Consumer research in bancassurance industry is an important and difficult work, which is to provide data and information support for the development and competition of bancassurance industry. Its difficulties lie in the diversity and complexity of consumer demand, the irrationality and instability of consumer behavior, the sensitivity and confidentiality of consumer information, the low and unbalanced participation of consumers, etc, the countermeasures are to adopt a variety of research methods and channels, use big data and artificial intelligence technology, strengthen consumer education and incentive mechanism, and pay attention to consumer experience and satisfaction. This paper hopes to provide some reference and enlightenment for the practice and theory of consumer research in the bancassurance industry, and also hopes to provide some useful cases and analysis for the service customers of Shangpu Consulting Company.