2020 foresight bancassurance


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In the consolidating world of financial services, the concept of bancassurance has taken a central role in the strategy of a growing number of financial institutions. Insurance products distributed through the banking channel have become a natural choice for mass-market clients looking for simple and low-cost products available from a trusted financial institution.

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2020 foresight bancassurance

  1. 1. 2020 Foresight - BancassuranceSynopsis The report provides market analysis, information and insights into bancassurance: Global snapshot of thebancassurance concept in the insurance industry and its market share in various regions across the worldComprehensive analysis of the industry’s market attractiveness and future growth areas Analysis ofvarious market drivers and regulations governing bancassurance in the insurance industry Detailed analysis ofthe marketing strategies adopted for selling life, non-life and personal accident and health insurance productsthrough the bancassurance distribution channel Comprehensive analysis of market segmentation and thenumber of policies and schemes sold through bancassurance in various countries Case studies of various keyplayers in the insurance industry and their bancassurance strategies Summary In the consolidating world of financial services, the concept of bancassurance has taken a central role in thestrategy of a growing number of financial institutions. Insurance products distributed through the bankingchannel have become a natural choice for mass-market clients looking for simple and low-cost productsavailable from a trusted financial institution. Globally, bancassurance has emerged as an important insurance distribution channel that has not only allowedinsurance companies to expand their geographical presence but also enabled banks to expand their overallproduct portfolio. The value of commissions earned through bancassurance is expected to grow globally. The key markets with high growth prospects include India, Singapore, Turkey, China and Chile. InAsia-Pacific, growth will be fostered by the entry of large foreign insurance players and a favorablemacro-economic environment. In Turkey, the business is expected to grow owing to the growing demand forpension products in the country. Scope This report provides a comprehensive analysis of the bancassurance concept prevailing in theinsurance industry It expands upon the current and future prospects for the insurance industry and thebancassurance distribution channel It details the different infrastructural, consumer and business driversaffecting bancassurance in various countries across the world It outlines the current regulatory frameworkimpacting the bancassurance business of the insurance industry It details the marketing strategies used byvarious insurers and other institutions It profiles the major insurers in the insurance industry and theirbancassurance strategies Reasons To Buy Make strategic business decisions using historic and forecastmarket data related to bancassurace in the insurance industry and each market within it Understand the keymarket trends and growth opportunities within the insurance industry through the bancassurance distributionchannel Assess the competitive dynamics in the bancassurance business in the insurance industry Gaininsights into the marketing strategies used for selling various types of life, non-life and personal accident andhealth insurance products through bancassurance agreements Gain insights into key regulations governingbancassurance by various national authorities in different countries Key Highlights Bancassurance –the sale of retail insurance products to a commercial bank’s client base – has evolved differentmodels since its origins in the European Union (EU) in the mid-1980s. The different models driveprofitability, product design and operational challenges. The classic European model is an integrated one, withcommon ownership or some form of exclusive commitment between the insurance provider and bankdistributor. In the US, despite early indications that bancassurance might achieve market penetration levels inlife insurance comparable to the one-third share it has in Europe, banks have struggled to achieve a market2020 Foresight - Bancassurance
  2. 2. share of 2% and essentially offer a range of third-party insurance products to provide choice to their clients. Incontrast, in the booming markets of Asia-Pacific and Latin America, the market shares of the bank channel arerapidly approaching European levels. The recent financial crisis of 2007-9 has had a traumatic impact onglobal bancassurance. Sales of life and other long-term investment products have collapsed as banks prioritizedeposits to replenish their liquidity, and clients flee the equity market in favor of liquidity and cash. Lowersales of non-life products reflect reduced volumes of consumer loans as clients deleverage. •Bancassurance business drivers differ between geographical regions. The key business drivers in the Americasare high levels of bank penetration, the presence of large foreign players, the brand equity of banks, savings inthe economy, financial deregulation, tax advantages and domestic credit availability. In Europe, bancassuranceis driven by the growth of relationship banking, a favorable tax structure, a general decline in interest rates andthe reduction in social security expenditure undertaken by governments.table Of Content1 Executive Summary2 Global Snapshot Of Bancassurance2.1 Emergence Of Bancassurance2.1.1 Evolution Of Insurance Distribution And Bancassurance Business Model2.1.2 Ongoing Diversification – Recent Deals In Bancassurance2.2 Global Market Size And Outlook2.3 Regulatory Developments In The Bancassurance Sector2.3.1 Permitted Ownership And Products2.3.2 Taxation2.3.3 Capital Adequacy Regulation2.3.4 Basel Iii To Redefine Business Structure Of Bancassurers2.3.5 Solvency Ii To Redefine Bancassurance Regulatory Risk Regime3 The Americas3.1 Introduction3.2 Market Sizing And Analysis Of Bancassurance3.2.1 Overview3.2.2 By Segment / Product (life And Non-life)3.3 Key Trends And Drivers3.3.1 Business Drivers3.3.2 Consumer Drivers3.3.3 Infrastructure Drivers3.4 Regulatory Framework3.5 Insurance Channel Dynamics3.6 Case Studies2020 Foresight - Bancassurance
  3. 3. 3.6.1 Mapfre Corporate Profile3.6.2 Wells Fargo3.7 Challenges4 Europe4.1 Introduction4.2 Market Sizing And Analysis Of Bancassurance4.2.1 Overview4.2.2 By Segment / Product (life And Non Life)4.3 Key Trends And Drivers4.3.1 Business Drivers4.3.2 Consumer Drivers4.3.3 Infrastructure Drivers4.4 Regulatory Framework4.5 Insurance Channel Dynamics4.6 Case Studies4.6.1 Credit Agricole4.6.2 Ing Group4.6.3 Bbva Seguros4.6.4 Hsbc4.7 Challenges5 Asia Pacific5.1 Introduction5.2 Market Sizing And Analysis Of Bancassurance5.2.1 Overview5.2.2 By Segment / Product (life And Non Life)5.3 Key Trends And Drivers5.3.1 Business Drivers5.3.2 Consumer Drivers5.3.3 Infrastructure Drivers5.4 Regulatory Framework5.5 Industry Channel Dynamics5.6 Case Studies5.6.1 Samsung Life Insurance Company5.6.2 China Life Insurance Company5.7 Challenges6 Appendix6.1 Methodology2020 Foresight - Bancassurance
  4. 4. 6.2 Definition6.3 Background6.4 Contact Us6.5 About Timetric6.6 DisclaimerAbout Us:Transparency Market Research is a market intelligence company providing global business informationreports and services. Our exclusive blend of quantitative forecasting and trends analysis providesforward-looking insight for thousands of decision makers. We are privileged with highly experienced team ofAnalysts, Researchers and Consultants, who use proprietary data sources and various tools and techniques togather, and analyze information. Our business offerings represent the latest and the most reliable informationindispensable for businesses to sustain a competitive edge.Contact:ResearchMoz90 State Street,Suite 700,Albany NY - 12207United StatesTel: +1-518-618-1030USA - Canada Toll Free 866-997-4948Email: sales@researchmoz.usBlog: http://researchmoz.blogspot.com/Website: http://www.researchmoz.us/2020 Foresight - Bancassurance