华源研究 | 银保渠道依靠网点数量渗透，个险渠道由“产品+服务”和“差异化账户”驱动--2026年保险行业策略报告

华源研究

12/10

1预计26年寿险新单保费和新业务价值将保持较快增长►银保渠道：预计26年银行存款到期再配置需求较大，这些低风险偏好资金或部分流入安全属性较高且有收益弹性的银保产品，主要上市公司在战略上重视银保渠道，增长驱动因素或来自于银行网点数量的持续渗透和高客的开发，我们预计26年上市险企的银保渠道新单保费增速有望达到30%以上；►个险渠道：新增代理人数量尚未到拐点，我们认为26年的驱动因素或来自于“产品+服务...

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