Press release
Bancassurance Market : Popular Trends & Technological advancements- BNP Paribas Cardif, Citigroup, Crdit Agricole, HSBC, ING, Wells Fargo
Bankassurance is a relationship between a bank and an insurance company, aimed at offering insurance products or insurance benefits to the bank’s customers. In this partnership, bank staff and tellers become the point of sale and point of contact for the customer. Bank staff are advised and supported by the insurance company through wholesale product information, marketing campaigns and sales training. The bank and the insurance company share the commission. Insurance policies are processed and administered by the insurance company.This partnership arrangement can be profitable for both companies. Banks can earn additional revenue by selling the insurance products, while insurance companies are able to expand their customer base without having to expand their sales forces or pay commissions to insurance agents or brokers.
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The global bancassurance market is a sizable and increasingly important channel for protection products, and is predicted to expand at a compound annual growth rate (CAGR) of 6.16% from 2014 to 2019. The growth rate for bancassurance is four times faster than the growth of life insurance in general in many markets around the world. With this increased opportunity comes increased competition. In order to differentiate themselves, bancassurers in both emerging and mature markets must deliver innovative products aligned with target consumers through efficient distribution channels.
The success of a strategic partnership between banks and insurers is dependent on executive buy-in, which was rated as the top factor for bancassurance success by respondents to RGA Global Surveys on bancassurance conducted in the United Kingdom, South Africa, Australia and New Zealand markets. In these countries, the largest bancassurers distribute insurance products through integrated partnerships which have aligned goals and sales targets for the banks and insurers.
In 2017, the global Bancassurance market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2018-2025.
Table of Contents
Global Bancassurance Market Size, Status and Forecast 2025
1 Industry Overview of Bancassurance
1.1 Bancassurance Market Overview
1.1.1 Bancassurance Product Scope
1.1.2 Market Status and Outlook
1.2 Global Bancassurance Market Size and Analysis by Regions (2013-2018)
1.3 Bancassurance Market by Type
1.3.1 Life Bancassurance
1.3.2 Non-Life Bancassurance
1.4 Bancassurance Market by End Users/Application
1.4.1 Old
1.4.2 Adults
1.4.3 Children
2 Global Bancassurance Competition Analysis by Players
2.1 Bancassurance Market Size (Value) by Players (2013-2018)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles
3.1 American Express
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Bancassurance Revenue (Million USD) (2013-2018)
3.2 Banco Santander
3.2.1 Company Profile
3.2.2 Main Business/Business Overview
3.2.3 Products, Services and Solutions
3.2.4 Bancassurance Revenue (Million USD) (2013-2018)
3.3 BNP Paribas Cardif
3.3.1 Company Profile
3.3.2 Main Business/Business Overview
…
Complete table of content is available at: https://www.qyresearchreports.com/report/global-bancassurance-market-sizestatus-and-forecast-2025.htm/toc
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