The aim of this study is to design generic strategic alliance pattern based on the value creation and allocation process in banking and insurance industry. In this paper, we review the theoretical basis and modern methodologies in strategic alliance in the field of banking, insurance context, aspects of organizational performance to achieve a more accurate analysis studied and finally a generic model of strategic alliance based on value creation, and allocation process in bank and insurance industry presented. Considering the above items, using an applicable and developmental approach, strategies and measurable correlation followed by using the hypothesis testing, both in terms of the descriptive and analytical approach to the analysis of findings from the questionnaire tasks. The results show the relationship between moderator variables on the relationship between strategic alliance and the value creation process. However, the only effects of the age and portfolio partners variables on the relationship between strategic alliance and value creation/allocation process has not significant value. According to the results and about organizational performance variables, there are more significant coefficients among strategic measures than operational variables.