Bancassurance Market Evolving Opportunities by Top Players Profiles - Barclays, American Express, HSBC, Citigroup, ANZ | Global Forecast 2024

Global Bancassurance Market 2020-2024 examines the market in detail along with focusing on significant market dynamics for the key players in the market. This research report offers granulated yet in-depth analysis of revenue share, market segments, revenue estimates and various regions across the globe.

Overview of Global Bancassurance Market:

Bancassurance is a relationship between a bank and an insurance company that is 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.

The exclusive research report on the Global Bancassurance Market 2020-2024 examines the market in detail along with focusing on significant market dynamics for the key players operating in the market. Global Bancassurance Industry research report offers granulated yet in-depth analysis of revenue share, market segments, revenue estimates and various regions across the globe. This report contains a complete product overview and its scope in the market to define the key terms and provide the clients a holistic idea of the market and its tendency. It comprehensively evaluates the global Bancassurance market with different perspectives for the purpose of providing a detailed, informative, and accurate analysis of regional growth, competition, market segmentation, and other important aspects.

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Based on the Type, the Global Bancassurance Market is sub-segmented into Bancassurance, Non-Life Bancassurance, Life bancassurance is the most widely used type which takes up about 59% of the global total revenue. Revenues have been modest and flat in recent years, and most insurance sales in U.S. banks are for advance insurance, life insurance or property insurance related to loans.

On the basis of Application, the Global Bancassurance Market is classified into Adults, Kids. Adults were the most widely used which took up about 44% of the global total in 2019. The use of the term picked up as banks and insurance companies merged and banks sought to provide insurance, especially in markets that have been liberalised recently. It is a controversial idea, and many feel it gives banks too great a control over the financial industry or creates too much competition with existing insurers.

In terms of the regional analysis, the Bancassurance Market in North America is expected to grow at the highest CAGR during the forecast period. Asia Pacific is estimated to be the fastest growing market during the forecast period due to the increase in life insurance. In Europe the bancassurance market to grow at a CAGR of 4.30% over the period 2017-2023. Bancassurance plays a major role in worldwide insurance and dominates several major European markets such as France and Italy. Its market share is expected to accrue with the deregulation taking place in several Asian countries and in the UK.

In some countries, bank insurance is still largely prohibited, but it was recently legalized in countries such as when the Glass-Steagall Act was repealed after the passage. China recently allowed banks to buy insurers and vice versa, stimulating the bancassurance product and some major global insurers in China have seen the bancassurance product greatly expand sales to individuals across several product lines. Bancassurance has proved to be an effective distribution channel in a number of countries in Europe, Latin America, Asia, and Australia.

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Top Leading Key Manufacturers are: ABN AMRO, ANZ, Banco Bradesco, American Express, Banco Santander, BNP Paribas, ING Group, Wells Fargo, Barclays, Intesa Sanpaolo, Lloyds Banking Group, Citigroup, HSBC, NongHyup Financial Group, Nordea Bank. New product launches and continuous technological innovations are the key strategies adopted by the major players. The key factors preventing the growth of the Bancassurance market include the benefits of insurance for the bank's customer.

Global Industry News:

1 Barclays: Barclays launches 50 million Adverse Weather Fund to support SMEs and farmers on 02 March 2020 - Barclays has today announced that it has made a 50 million fund available to help small and medium sized enterprises (SMEs) and rural businesses impacted by the recent flooding.

In the immediate aftermath of Storms Ciara, Dennis and Jorge, the bank's network of relationship managers have been reaching out to hundreds of businesses in counties across the UK, letting them know that the bank stands ready to help.The team has been out in communities to talk to customers about the help they need, and as a result has announced a package of support to aid businesses that may need it:

A 50 million Adverse Weather Fund for businesses
Access to Funding - 360,000 SMEs have pre-assessed lending limits which can be accessed via the Barclays app or online banking
12-month capital repayment holidays on existing loans over 25,000
Increased or new overdraft facilities and other working capital solutions

Ian Rand, Chief Executive of Business Banking, said: "We want to ensure that SMEs and farmers are aware of the support that they can receive from their bank as we aim to help them with the devastating impact of the flooding."We'll continue to work with local communities over the coming weeks and months through this difficult period, and would urge any customers that are worried about their business to get in touch."

The bank continues to support personal customers living in impacted areas, with bank managers assisting homeowners, as well as offering advice on overdrafts, increasing credit limits and capital repayment holidays on existing loans.

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Report contents include
1 Analysis of the Bancassurance Market includes revenues, future growth, market outlook
2 Historical data and forecast
3 Regional analysis including growth estimates
4 Analyses the end user markets including growth estimates.
5 Profiles on Bancassurance including products, sales/revenues, and market position
6 Bancassurance Market structure, key drivers and restraints

Major Points in Table of Contents:

Global Bancassurance Market Report 2020

1 Bancassurance Definition
2 Global Bancassurance Market Major Player Share and Market Overview
2.1 Global Major Player Bancassurance Business Revenue
2.2 Global Bancassurance Market Overview
3 Major Player Bancassurance Business Introduction
3.1 ABN AMRO Bancassurance Business Introduction
3.1.1 ABN AMRO Bancassurance Revenue, Growth Rate and Gross profit 2014-2019
3.1.2 ABN AMRO Bancassurance Business Distribution by Region
3.1.3 ABN AMRO Interview Record
3.1.4 ABN AMRO Bancassurance Business Profile
3.1.5 ABN AMRO Bancassurance Specification
3.2 ANZ Bancassurance Business Introduction
3.2.1 ANZ Bancassurance Revenue, Growth Rate and Gross profit 2014-2019
3.2.2 ANZ Bancassurance Business Distribution by Region
3.2.3 Interview Record
3.2.4 ANZ Bancassurance Business Overview
3.2.5 ANZ Bancassurance Specification
3.3 Banco Bradesco Bancassurance Business Introduction
3.3.1 Banco Bradesco Bancassurance Revenue, Growth Rate and Gross profit 2014-2019
3.3.2 Banco Bradesco Bancassurance Business Distribution by Region
3.3.3 Interview Record
3.3.4 Banco Bradesco Bancassurance Business Overview
3.3.5 Banco Bradesco Bancassurance Specification
3.4 American Express Bancassurance Business Introduction
3.5 Banco Santander Bancassurance Business Introduction
3.6 BNP Paribas Bancassurance Business Introduction

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