United States Bancassurance Market Share, Size, Growth, Trends and Forecast 2022-2027

According to the latest report by IMARC Group "United States Bancassurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The United States bancassurance market size reached US$ 41.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 57.6 Billion by 2027, exhibiting a growth rate (CAGR) of 5.47% during 2022-2027.

Bancassurance refers to an affiliation between a bank and insurance firm that permits the organization to offer various insurance plans, products, and services. It is widely employed in the banking, financial services, and insurance (BFSI) industry for improving the overall sales, profit, and product portfolios offered by a firm. Bancassurance can be differentiated into two approaches, including integrated and non-integrated models. Amongst these, the integrated model is associated with banks whereas, the non-integrated model is joint with the official financial service.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

United States Bancassurance Market Trends:

Numerous initiatives undertaken by the Federal Government of the United States to improve the BFSI industry infrastructure are majorly driving the United States bancassurance market. The rising requirement for effective insurance policies amongst the geriatric population is further contributing the market growth. Other than this, the increasing utilization of smart devices across different financial institutions, such as smartphones, computers, and laptops, is increasingly influencing consumer purchasing patterns, which is creating a positive outlook for the market across the country.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States bancassurance market report, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on product type and model type.

Breakup by Product Type:

Life Bancassurance
Non-Life Bancassurance

Breakup by Model Type:

Pure Distributor
Exclusive Partnership
Financial Holding
Joint Venture

Breakup by Region:

Northeast
Midwest
South
West
Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Other Related Reports By IMARC Group

Europe Bancassurance Market: https://www.imarcgroup.com/europe-bancassurance-market

India Health Insurance Market: https://www.imarcgroup.com/india-health-insurance-market

Usage-based Insurance Market: https://www.imarcgroup.com/usage-based-insurance-market

Cyber Insurance Market: https://www.imarcgroup.com/cyber-insurance-market

Health Insurance Market: https://www.imarcgroup.com/health-insurance-market

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