openPR Logo
Press release

Europe Bancassurance Market Report 2024-2032: Industry Overview, Trends, Growth and Forecast

02-20-2024 07:52 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Europe Bancassurance Market Report 2024-2032: Industry

IMARC Group's report titled "Europe Bancassurance Market Report by Product Type (Life Bancassurance, Non-Life Bancassurance), Model Type (Pure Distributor, Exclusive Partnership, Financial Holding, Joint Venture), and Country 2024-2032. The Europe bancassurance market size reached US$ 618.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 940.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032.

For an in-depth analysis, you can refer sample copy of the report:

Factors Affecting the Growth of the Europe Bancassurance Industry:

● Emerging Technological Advancements:

Digital transformation is driving change in the banking and insurance sectors across Europe. Additionally, the integration of technology, particularly through online platforms and mobile apps, offers convenience and accessibility to consumers seeking insurance products. Also, digitalization allowed customers to explore and purchase insurance options seamlessly. Online platforms provide a user-friendly interface where customers can compare different insurance policies, obtain quotes, and complete transactions with ease. Mobile apps further amplified this convenience by enabling users to access insurance services anytime, anywhere, from the palm of their hand. Besides this, the digital revolution has improved the customer experience and operational efficiency of banks and insurance companies. Administrative tasks, such as underwriting and claims processing, have become more streamlined, reducing the time and resources required for these processes.

● Changing Consumer Preferences:

Consumer preferences in Europe are undergoing a notable shift, with a strong emphasis on convenience and the desire for one-stop financial solutions. Additionally, customers are looking for simplicity and efficiency in their financial dealings, and the combination of banking and insurance services in one place aligns with this desire, contributing to market growth. Rather than managing insurance policies through separate entities, customers prefer the convenience of handling banking and insurance needs under a single roof. This preference for integrated financial solutions led to the adoption of bancassurance, where banks use their existing relationships with customers to offer insurance products seamlessly which simplifies the customer experience and fosters greater trust and loyalty. It enables customers to consolidate their financial affairs, which is particularly appealing in a world where time and ease of use are highly valued.

● Rising Number of Partnerships and Collaborations:

The market is driven by the increasing number of strategic partnerships and collaborations between banks and insurance companies. These alliances are essential in product development, distribution, and the creation of comprehensive financial solutions for customers. Also, partnerships between banks and insurance providers have become essential in expanding their respective product portfolios. Besides this, banks can offer several insurance products without the need for extensive in-house expertise, while insurance companies gain access to the extensive customer base and distribution networks of banks which benefits both parties and the customers. Along with this, collaborations also enable the development of tailor-made insurance solutions that cater to specific customer segments or emerging trends.

Explore full report with table of contents:

Europe Bancassurance Market Report Segmentation:

By Product Type:

● Life Bancassurance
● Non-Life Bancassurance

Life bancassurance is the largest segment due to its comprehensive coverage, which appeals to several individuals seeking long-term financial security and investment options.

By Model Type:

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

The pure distributor model holds the largest market share due to banks focusing on their core competencies while using the expertise of insurance companies. It is preferred for its efficiency and effectiveness in reaching a broader customer base, as it capitalizes on the existing trust and relationship between banks and their clients.

Country Insights:

● Germany
● France
● United Kingdom
● Italy
● Spain
● Others

Based on country, the market has been segmented into Germany, France, the United Kingdom, Italy, Spain, and others.

Europe Bancassurance Market Trends:

The market is experiencing significant growth, driven by the integration of banking and insurance services. This trend reflects a strategic collaboration between banks and insurance companies, aiming to offer comprehensive financial solutions to customers. Additionally, the increasing focus on digitalization within this sector enhances customer experience and operational efficiency.

Moreover, the growing demand for personalized insurance products, coupled with the convenience of obtaining these services through established banking channels, is driving market expansion. Along with this, several regulatory changes in the European Union are influencing the market dynamics, encouraging transparency and customer protection.

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

𝐎𝐭𝐡𝐞𝐫 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐁𝐲 𝐈𝐌𝐀𝐑𝐂 𝐆𝐫𝐨𝐮𝐩

𝐒𝐚𝐮𝐝𝐢 𝐀𝐫𝐚𝐛𝐢𝐚 𝐒𝐩𝐢𝐧𝐚𝐥 𝐒𝐮𝐫𝐠𝐞𝐫𝐲 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐒𝐚𝐮𝐝𝐢 𝐀𝐫𝐚𝐛𝐢𝐚 𝐑𝐞𝐬𝐩𝐢𝐫𝐚𝐭𝐨𝐫𝐲 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐒𝐚𝐮𝐝𝐢 𝐀𝐫𝐚𝐛𝐢𝐚 𝐏𝐫𝐨𝐭𝐞𝐢𝐧 𝐁𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐕𝐢𝐞𝐭𝐧𝐚𝐦 𝐓𝐚𝐱𝐢 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐕𝐢𝐞𝐭𝐧𝐚𝐦 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐂𝐡𝐞𝐦𝐢𝐜𝐚𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐁𝐫𝐚𝐳𝐢𝐥 𝐖𝐢𝐫𝐞𝐥𝐢𝐧𝐞 𝐋𝐨𝐠𝐠𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐁𝐫𝐚𝐳𝐢𝐥 𝐃𝐚𝐭𝐚 𝐂𝐞𝐧𝐭𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐒𝐚𝐮𝐝𝐢 𝐀𝐫𝐚𝐛𝐢𝐚 𝐅𝐞𝐞𝐝 𝐀𝐝𝐝𝐢𝐭𝐢𝐯𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:

Contact Us:

 IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA


Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Europe Bancassurance Market Report 2024-2032: Industry Overview, Trends, Growth and Forecast here

News-ID: 3390727 • Views:

More Releases from IMARC Group

Top 11 Fitness App Companies in the World 2024 | IMARC Group
Top 11 Fitness App Companies in the World 2024 | IMARC Group
Major players in the fitness app industry are constantly innovating interfaces and technologies to meet the growing needs and preferences of users. They are focused on providing personalized experiences by using data analytics and machine learning (ML) algorithms to understand individuals' goals, fitness levels, and preferences. This data-driven approach allows companies to offer tailored workout plans, nutrition recommendations, and progress tracking, which helps increase user engagement and results. In line
Top 10 Zirconium Companies in the World 2024 | IMARC Group
Top 10 Zirconium Companies in the World 2024 | IMARC Group
Zirconium is a silver-gray and versatile metal obtained from the mineral zircon. It is known for its superior wear and heat resistance, making it suitable for applications involving abrasion and friction. It is chemically inert in many environments and helps maintain the purity of the materials and substances derived from it. It has a high melting point, making it the preferred choice for applications in high temperature environments. It plays
Top 11 Food Logistics Companies in the World | IMARC Group
Top 11 Food Logistics Companies in the World | IMARC Group
Major market players are investing heavily in advanced systems such as data analytics and artificial intelligence (AI) to optimize their supply chain management. These technological advancements enable accurate tracking of products, efficient route planning and better inventory management to ensure timely delivery, reduce food wastage and enhance the overall customer experience. Top companies are actively working to reduce their carbon footprint by adopting eco-friendly practices. This includes transitioning to electric
Top 11 Petroleum Coke Companies in the World | IMARC Group
Top 11 Petroleum Coke Companies in the World | IMARC Group
Companies are investing in refining facilities and technologies to efficiently extract coke while maximizing production of high-value products such as gasoline, diesel and petrochemicals. It involves optimizing the distillation process to achieve the desired coke quality. They are investing in the technology and infrastructure needed for efficient and cost-effective production processes. In line with this, key players are focusing on quality control measures to ensure that petroleum coke meets specific

All 5 Releases

More Releases for Europe

Strategy Consulting Market 2025 | Analysis By Top Key Players: Booz & Co. , Rola …
Global Strategy Consulting Market 2019-2025, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The key players covered in this study McKinsey , The Boston Consulting Group , Bain & Company , Booz & Co. , Roland Berger Europe
Influenza Vaccination Market Global Forecast 2018-25 Estimated with Top Key Play …
UpMarketResearch published an exclusive report on “Influenza Vaccination market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 115 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. This report focuses on the Influenza Vaccination market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This
Global Strategy Consulting Market Research Report 2018-2025 | Global Key Player …
An up-to-date research report has been disclosed by Market Research Hub highlighting the title “Global Strategy Consulting Market Size, Status and Forecast 2018-2025” which provides an outlook for current market value as well as the expected growth of Strategy Consulting during 2018-2025. The report studies the casing heads market worldwide, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, size, growth, revenue, consumption, import and export
Strategy Consulting Market Deep Insights with Core Business Strategies 2018 - Ro …
Strategy Consulting Market report provides a vital recent industry data which covers in general market situation along with future scenario for industry around the Globe. It also consist of major data along with forecasts of a global market along with clear presentation of diagrams (charts and tables). Global strategy consulting market size status and forecast 2025 has a vast collection of market research reports concerning the software industry, its sub-sectors, and
Wearable Heart Monitoring Devices Market 2018 To 2023 – Top Leaders Beurer Gmb …
The Worldwide Wearable Heart Monitoring Devices Market is growing at a healthy rate. The major players in this market are Medtronic (U.S.), Kinetec Products UK Ltd. (South America), Beurer GmbH (Europe), Medisana AG (Europe), Briggs Healthcare (U.S.), Polar Electro (Europe), SUUNTO (Europe), Koninklijke Philips N.V. (Europe), Garmin Ltd. (Europe) and others. The Wolrdwide Wearable Heart Monitoring devices is segmented on the basis of products, type, application, and end users. On
Surgical Equipment Market 2018 Leading Manufacturer in Europe, the Middle East & …
The Europe, the Middle East & Africa Surgical Equipment Market is expected to grow at an approximate CAGR of 6.7% during the forecast period. A surgical equipment is a designed tool or device to carry out various surgical procedures so as to modifying biological tissues and to provide access for viewing them. The surgical equipment can be designed specifically for a particular surgery or it can be used as general purpose