NEW YORK, Dec. 4, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Synopsis
The report provides market analysis, information and insights into bancassurance:
- Global snapshot of the bancassurance concept in the insurance industry and its market share in various regions across the world
- Comprehensive analysis of the industry's market attractiveness and future growth areas
- Analysis of various market drivers and regulations governing bancassurance in the insurance industry
- Detailed analysis of the marketing strategies adopted for selling life, non-life and personal accident and health insurance products through the bancassurance distribution channel
- Comprehensive analysis of market segmentation and the number of policies and schemes sold through bancassurance in various countries
- Case studies of various key players 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 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. Globally, bancassurance has emerged as an important insurance distribution channel that has not only allowed insurance companies to expand their geographical presence but also enabled banks to expand their overall product 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. In Asia-Pacific, growth will be fostered by the entry of large foreign insurance players and a favorable macro-economic environment. In Turkey, the business is expected to grow owing to the growing demand for pension products in the country.
Scope
- This report provides a comprehensive analysis of the bancassurance concept prevailing in the insurance industry
- It expands upon the current and future prospects for the insurance industry and the bancassurance distribution channel
- It details the different infrastructural, consumer and business drivers affecting bancassurance in various countries across the world
- It outlines the current regulatory framework impacting the bancassurance business of the insurance industry
- It details the marketing strategies used by various insurers and other institutions
- It profiles the major insurers in the insurance industry and their bancassurance strategies
Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to bancassurace in the insurance industry and each market within it
- Understand the key market trends and growth opportunities within the insurance industry through the bancassurance distribution channel
- Assess the competitive dynamics in the bancassurance business in the insurance industry
- Gain insights into the marketing strategies used for selling various types of life, non-life and personal accident and health insurance products through bancassurance agreements
- Gain insights into key regulations governing bancassurance 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 different models since its origins in the European Union (EU) in the mid-1980s. The different models drive profitability, product design and operational challenges. The classic European model is an integrated one, with common ownership or some form of exclusive commitment between the insurance provider and bank distributor.
- In the US, despite early indications that bancassurance might achieve market penetration levels in life insurance comparable to the one-third share it has in Europe, banks have struggled to achieve a market share of 2% and essentially offer a range of third-party insurance products to provide choice to their clients. In contrast, in the booming markets of Asia-Pacific and Latin America, the market shares of the bank channel are rapidly approaching European levels.
- The recent financial crisis of 2007-9 has had a traumatic impact on global bancassurance. Sales of life and other long-term investment products have collapsed as banks prioritize deposits to replenish their liquidity, and clients flee the equity market in favor of liquidity and cash. Lower sales 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 Americas are high levels of bank penetration, the presence of large foreign players, the brand equity of banks, savings in the economy, financial deregulation, tax advantages and domestic credit availability. In Europe, bancassurance is driven by the growth of relationship banking, a favorable tax structure, a general decline in interest rates and the reduction in social security expenditure undertaken by governments.
1 Executive Summary
2 Global Snapshot of Bancassurance
2.1 Emergence of Bancassurance
2.1.1 Evolution of insurance distribution and bancassurance business model
2.1.2 Ongoing diversification – recent deals in bancassurance
2.2 Global Market Size and Outlook
2.3 Regulatory developments in the bancassurance sector
2.3.1 Permitted ownership and products
2.3.2 Taxation
2.3.3 Capital adequacy regulation
2.3.4 Basel III to redefine business structure of bancassurers
2.3.5 Solvency II to redefine bancassurance regulatory risk regime
3 The Americas
3.1 Introduction
3.2 Market sizing and Analysis of Bancassurance
3.2.1 Overview
3.2.2 By Segment / Product (Life and Non-Life)
3.3 Key Trends and Drivers
3.3.1 Business Drivers
3.3.2 Consumer Drivers
3.3.3 Infrastructure Drivers
3.4 Regulatory Framework
3.5 Insurance Channel Dynamics
3.6 Case Studies
3.6.1 Mapfre Corporate Profile
3.6.2 Wells Fargo
3.7 Challenges
4 Europe
4.1 Introduction
4.2 Market sizing and Analysis of Bancassurance
4.2.1 Overview
4.2.2 By Segment / Product (Life and Non Life)
4.3 Key Trends and Drivers
4.3.1 Business Drivers
4.3.2 Consumer Drivers
4.3.3 Infrastructure Drivers
4.4 Regulatory Framework
4.5 Insurance Channel Dynamics
4.6 Case Studies
4.6.1 Credit Agricole
4.6.2 ING Group
4.6.3 BBVA Seguros
4.6.4 HSBC
4.7 Challenges
5 Asia Pacific
5.1 Introduction
5.2 Market sizing and Analysis of Bancassurance
5.2.1 Overview
5.2.2 By Segment / Product (Life and Non Life)
5.3 Key Trends and Drivers
5.3.1 Business Drivers
5.3.2 Consumer Drivers
5.3.3 Infrastructure Drivers
5.4 Regulatory Framework
5.5 Industry Channel Dynamics
5.6 Case Studies
5.6.1 Samsung Life Insurance Company
5.6.2 China Life Insurance Company
5.7 Challenges
6 Appendix
6.1 Methodology
6.2 Definition
6.3 Background
6.4 Contact Us
6.5 About Timetric
6.6 Disclaimer
List of Tables
Table 1: Interest Rate Changes of Central Banks in Europe (%), 2012 , 2013
Table 2: Interest Rate Changes of Central Banks in Asia-Pacific (%), 2012, 2013
Table 3: High Net Worth Individuals in Asia-Pacific, 2012
Table 4: China Life, Gross Written Premiums by Distribution Channel, 2011
Table 5: Bancassurance Channel Key Definitions
List of Figures
Figure 1: Global Snapshot of Insurance Distribution Channels, 2012
Figure 2: Evolution of Insurance Distribution Channel
Figure 3: Major Deals in the Global Bancassurance Market
Figure 4: Worldwide* Premium Earned through Bancassurance (US$ Billion), 2008–2017
Figure 5: Growth Potential of Various Insurance Channels across Geographical Regions
Figure 6: Snapshot of Solvency I vs. Solvency II
Figure 7: Possible options for Bancassurers under Solvency II
Figure 8: Shift in Bancassurance Market in The Americas
Figure 9: Growth Prospects of Bancassurance, 2013–2017
Figure 10: Insurance Penetration in the Americas, 2011
Figure 11: Percentage of Total Gross Written Life Insurance Premiums generated through Bancassurance (%), 2006-2016
Figure 12: Percentage of Total Gross Written Non-Life Insurance Premiums generated through Bancassurance (%), 2006-2016
Figure 13: Value of Commissions Earned through Bancassurance in the Americas (US$ Billion), 2006 –2016
Figure 14: : Number of New Policies/Schemes sold through Bancassurance in the Americas, (%), 2006–2016
Figure 15: Value Of Commissions earned through Bancassurance in the Americas, (US$ Billion), 2006 –2016
Figure 16: : Number of New Policies/Schemes sold through Bancassurance in the Americas Non-Life Insurance Segment, (%), 2006–2016
Figure 17: Key Drivers of Bancassurance in the Americas
Figure 18: Bank Penetration, (Number of Commercial Banks per Thousand Adults), 2010
Figure 19: Financial Savings, (Gross Domestic Savings as a % of GDP), 2011
Figure 20: Domestic Credit Availability, (Domestic Credit as a % of GDP), 2011
Figure 21: High Net-Worth Individuals in the Americas, (Number of Individuals), 2012
Figure 22: Percentage of Total Population Aged 60 Years or Over by 2050
Figure 23: Internet Penetration in the Americas (Internet Users as a % of Total Population) , 30 June, 2012
Figure 24: Bancassurance Regulatory Framework in the Americas
Figure 25: Value of Commissions in the Life Insurance Segment by Distribution Channel (%), 2012
Figure 26: Value of Commissions in the Non-Life Insurance Segment by Distribution Channel (%), 2012
Figure 27: Mapfre – Corporate Profile, 2011
Figure 28: Mapfre Banking Networks
Figure 29: Mapfre Market Share Before and After Association with Banco do Brazil, 2009
Figure 30: Growth Prospects of Bancassurance in the Life Insurance Segment, 2012
Figure 31: Insurance Penetration In Europe, 2011
Figure 32: Share Of Bancassurance in Gross Written Life Insurance Premiums (%), 2006–2016
Figure 33: Share Of Bancassurance in Gross Written Non- Life Insurance Premiums (%), 2006–2016
Figure 34: Value Of Commissions earned through Bancassurance in Europe (US$ Million), 2006 –2016
Figure 35 : Number of New Policies or Schemes sold through Bancassurance in Europe (Thousand), 2006– 2016
Figure 36: Value of Commissions earned through Bancassurance in Europe (US$ Billion), 2006– 2016
Figure 37: Number of New Policies/Schemes sold through Bancassurance in Europe in the Non-Life Insurance Segment, (Thousands), 2006–2016
Figure 38: Key Drivers of Bancassurance in Europe
Figure 39: Life Insurance Expense Ratios in Italy, Expense Ratio as a Percentage of Gross Premiums Written, 2006
Figure 40: Bank Penetration and Share of Bancassurance in the Life Segment, (Number of Commercial Banks per 100,000 Adults), 2009
Figure 41: Population Structure by Major Age Groups, (% of Total Population), 2010–2040
Figure 42: Bancassurance Regulatory Framework in Europe
Figure 43: Value of Commissions in the Life Insurance Segment by Distribution Channel (%), 2012
Figure 44: Value of Commissions in the Non-Life Insurance Segment by Distribution Channel (%), 2012
Figure 45: Credit Agricole – Corporate Profile, 2012
Figure 46: Growth Prospects of Bancassurance in the Life Insurance Segment, 2012–2016
Figure 47: Insurance Penetration In Asia Pacific, 2011
Figure 48: Share of Bancassurance in Gross Written Life Insurance Premiums (%), 2006–2016
Figure 49: Share of Bancassurance in Gross Written Non-Life Insurance Premiums (%), 2006–2016
Figure 50: Number of New Policies/Schemes sold through Bancassurance in the Life Insurance Segment, (%), 2006–2016
Figure 51: : Number of New Policies/Schemes sold through Bancassurance in the Life Insurance Segment, (%), 2006–2016
Figure 52: Value of Commissions Earned in the Non-Life Insurance Segment through Bancassurance (US$ billion), 2006–2016
Figure 53: : Number of New Policies/Schemes sold through Bancassurance in the Non-Life Insurance Segment, (%), 2006–2016
Figure 54: Key Drivers of Bancassurance in Asia-Pacific
Figure 55: Bancassurance Regulatory Framework in Asia Pacific
Figure 56: IRDA Guidelines on the Licensing of Corporate Agents, 2010
Figure 57: Value of Commissions in the Life Insurance Segment by Distribution Channel (%), 2012
Figure 58: Value of Commissions in the Life Insurance Segment by Distribution Channel (%), 2012
Figure 59: : Samsung Life Insurance, Corporate Profile, 2011
Figure 60: : China Life Insurance Company, Corporate Profile, 2011
To order this report: 2020 Foresight: Bancassurance
http://www.reportlinker.com/p01144081/2020-Foresight-Bancassurance.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Life_Insurance
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