Market Overview

Global Bancassurance Market 2017-2018 & 2023 - Industry Trends, Share, Size, Growth, Opportunity and Forecasts - ResearchAndMarkets.com

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The "Bancassurance
Market: Global Industry Trends, Share, Size, Growth, Opportunity and
Forecast 2018-2023"
report has been added to ResearchAndMarkets.com's
offering.

The global bancassurance market has reached a value of more than US$
1,040.7 Billion in 2017

The global bancassurance market is currently witnessing strong growth as
banks are adopting more diversified and enhanced product portfolios in
their offerings, especially in the face of banking industry regulations
which will limit the lenders' probability with their traditional
business lines.

Bancassurance simply refers to selling insurance products through
established distribution channels of banks. Herein, banks and insurance
firms come up with an agreement, which prompts the insurance firm to
sell its products to the bank clients. This arrangement is getting
highly popular, as this benefit both the bank as well as the insurance
firm. From the banks' point of view, they receive a fee amount
(non-interest income) apart from the interested income from the
insurance company. Whereas, from the insurance firms' point of view,
they get to increase their customers and market reach.

Currently, banks have become the main distribution channel for insurance
products, and insurance firms provide a substantial profit source for
them in return. Bancassurance arrangement largely reposes on the
relationship that the bank has developed with the customer over a period
of time. Therefore, insurance firms are more than happy with pushing
risk products through banks, as it is a better and cost-effective affair
compared to the agent route. And, for banks, fee-based income at a
minimum cost is always a welcome considering the falling interest rates.

Bancassurance is becoming an important factor for the overall financial
services market growth due to the consolidation in the sector. With
technological advancements influencing consumer behaviors and their
purchasing patterns, the global bancassurance market is expected to
witness a continuous upsurge in its valuation. Moreover, the increase in
mobile surfing and mounting penetration of internet are expected to fuel
the global bancassurance market growth as well.

Looking forward, the market value is projected to reach US$ 1,451.4
Billion by 2023, expanding at a CAGR of 5.7% during 2018-2023.

The competitive landscape of the market has also been examined with
some of the key players being

  • American Express
  • Banco Santander
  • BNP Paribas
  • Citigroup
  • Crdit Agricole
  • HSBC
  • ING Group
  • Wells Fargo
  • ABN AMRO
  • ANZ
  • Banco Bradesco
  • Barclays
  • Crdit Mutuel
  • Intesa Sanpaolo
  • Lloyds Bank Group
  • NongHyup Financial Group
  • Nordea Group
  • Societe Generale.

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Bancassurance Market

6 Market Breakup by Product

7 Market Breakup by Bancassurance Models

8 Market Breakup by Region

9 Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/research/4flwl5/global?w=4

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