Banks and insurance companies have widely recognized the need for mutual co-operation in the form of cross-sector alliances. In these articles we study the problem of finding the most suitable alliance structure between banks and insurance companies from the points of view of executive management, supervisory authorities and customers. We also study possible compromise alliance models for several decision maker groups and a group’s understanding of other groups’ decisions.
In the first article we study alliances between banks and insurance companies from the perspective of the top management. We define six different structural models for financial alliances. We also characterize nine criteria according to which the previously defined models are to be compared to achieve the most attractive alliance model. Thus, we obtain a multi-criteria decision problem.
In the second article we solve the problem of searching the most preferred alliance model by using an expert panel and the Analytic Hierarchy Process (AHP). The experts are representatives of the top management of Finnish banks and insurance companies. Based on the evaluations of the panel, the alternatives Financial Conglomerate and Cross-Selling Agreement, no Overlapping Service Channels are most preferred. Which one is chosen, depends on how risk is emphasized.
Terhi Ollikainen | alfa
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