India Bancassurance Market 2022 | Market Worth US$ 132.1 Billion by 2027 | Growth Rate (CAGR) of 7.41% | IMARC Group

The latest report by IMARC Group, titled "India Bancassurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on the India bancassurance market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The India bancassurance market reached a value of US$ 85.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 132.1 Billion by 2027, exhibiting a CAGR of 7.41% during 2022-2027.

Bancassurance represents the distribution of several insurance services and financial products via banking institutions. These services include unit-linked insurance plans (ULIPs), endowment plans, marine, health and property insurances, etc. Bancassurance aids companies in augmenting their sales and profits as well as improving their financial portfolio considerably. They use banks as a medium to sell their products under distribution contracts. Consequently, this agreement assists them in increasing the turnover without any capital outlay and offers a high return on equity.

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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.

India Bancassurance Market Trends:

The emerging trend of digitalization and the expanding banking, financial, services and insurance (BFSI) sector are primarily driving the India bancassurance market. Additionally, the inflating need for retirement plans and the widespread adoption of health and life insurance policies are further catalyzing the market growth. Apart from this, the launch of numerous favorable policies by government bodies in India to promote the utilization of bancassurance activities and the growing number of commercial banking networks are acting as significant growth-inducing factors.

Moreover, extensive improvements in digital strategies, strategic collaborations and partnerships between banks and insurance firms, and the development of mobile-based services are also bolstering the market growth. Besides this, the introduction of advanced technologies to enhance the information technology (IT) base and provide credible solutions to the consumers is anticipated to fuel the India bancassurance market over the forecasted period.

Explore the Full Report with TOC & List of Figures: https://www.imarcgroup.com/india-bancassurance-market

Key Market Segmentation:

Breakup by Product Type:

• Life Bancassurance
• Non-Life Bancassurance

Breakup by Model Type:

• Pure Distributor
• Exclusive Partnership
• Financial Holding
• Joint Venture

Breakup by Region:

• North India
• West and Central India
• South India
• East India

Competitive Landscape:

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

Key highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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