Bancassurance Market Key Players, Market Analysis, Share, Trends And Forecast To 2033

"The new report published by The Business Research Company, titled Bancassurance Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the bancassurance market size has grown strongly in recent years. It will grow from $1,290.19 billion in 2023 to $1,382.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The bancassurance market size is expected to see strong growth in the next few years. It will grow to $1,830.09 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.

Download Free Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=16354&type=smp

Growing Demand For Insurance Fuels Bancassurance Market Expansion
The increasing need for insurance is expected to propel the growth of the bancassurance market going forward. Insurance is a financial arrangement in which an individual or entity (the insured) pays premiums to an insurance company (the insurer) in exchange for protection against financial losses from specified risks. The growing need for insurance is driven by rising uncertainties and risks in modern life, including health issues, natural disasters, economic instability, and the growing value of personal and business assets. Bancassurance effectively addresses the increasing need for insurance by leveraging banks' extensive customer networks and trust to provide convenient access to tailored insurance products. For instance, in February 2024, according to LIMRA Inc., a US-based insurance and financial services trade association, in 2023, the total U.S. life insurance new annualized premium rose by 1% year-over-year, reaching $15.6 billion. Additionally, the overall policy count saw a 4% increase, with term policy counts also up by 4%. Notably, the number of indexed universal life policies sold surged by 20% compared to the previous year. Therefore, the increasing need for insurance will drive the growth of the bancassurance market.

Revolutionary Digital Insurance Portal Redefining User Independence And Convenience
Major companies operating in the bancassurance market are working on technological advancements, such as digital insurance platforms, to enhance the customer experience, streamline operations, and offer more personalized and accessible insurance solutions. A digital insurance platform is an online system that leverages technology to simplify and automate buying, managing, and claiming insurance policies. For instance, in October 2023, NCBA Bancassurance Intermediary LTD, a Kenya-based company specializing in offering a wide range of insurance products and services, launched a digital insurance portal that simplifies insurance management. The platform provides secure, self-service features, including quote comparisons, instant portfolio access, real-time claim submission and tracking, and easy premium payments.

The bancassurance market covered in this report is segmented -

1) By Insurance Type: Life Insurance, Non-Life Insurance
2) By Model Type: Pure Distributor Model, Strategic Alliance Model, Joint Venture Model, Financial Holding, Other Model Types
3) By End User: Personal, Business

Buy Now & Get Exclusive Discount on this Report, Checkout link @
https://www.thebusinessresearchcompany.com/Discount?id=16354&type=discount

Major companies operating in the bancassurance market are Allianz SE, AXA Group (AXA SA), Wells Fargo & Company, HSBC Holdings plc, Citigroup Inc., MetLife Inc., Assicurazioni Generali S.p.A., Prudential Financial Inc., American Express Company, BNP Paribas SA, ING Groep N.V., Mitsubishi UFJ Financial Group Inc. (MUFG), Crédit Mutuel, Barclays PLC, Crédit Agricole SA, Intesa Sanpaolo S.p.A., Banco Bradesco S.A., Standard Chartered PLC, Nordea Bank Abp, Australia and New Zealand Banking Group Limited (ANZ), CNA Financial Corporation, Lloyds Banking Group plc, Bank of Nova Scotia (Scotiabank), ABN AMRO Group N.V., Yes Bank Ltd.

Contents of the report:
1. Executive Summary
2. Bancassurance Market Report Structure
3. Bancassurance Market Trends And Strategies
4. Bancassurance Market - Macro Economic Scenario
5. Bancassurance Market Size And Growth
…..
27. Bancassurance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Explore the report store to make a direct purchase of the report @ https://www.thebusinessresearchcompany.com/report/bancassurance-global-market-report

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.