Will Bancassurance become the major distribution channel for Insurance?

Key questions on your mind:

• Is bancassurance the cheapest and most wide spread distribution channel in the sector?
• Is bancassurance the future?
• Will bancassurance become the fastest growing channel in years to come?

The concept of bancassurance has taken a central role in the strategy of a growing number of financial institutions. Major insurers globally – Wells Fargo, ING Group, China Life Insurance have all implemented a bancassurance strategy.

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, bancaussrance is emerging as an important insurance distribution channel allowing insurers to expand their geographical presence and for banks to expand their product portfolio.

In the Americas, Brazil and Europe, Spain held the largest bancassurance market share. Bancassurance in Asia-Pacific is still an emerging channel and is being dominated by traditional distribution channels. In spite of this, South Korea held the largest bancassurance market share.

Although the benefits bancassurance may provide such as ease of products being available to customers, clear challenges are present from regulatory updates and competition from popular traditional distribution channels.

Analyse the key trends and drivers by region and take advantage of the opportunities in the growing bancassurance market. 

If you would like more information on this subject please visit our  website or email us at marketing@timetric.com

Related reports by region:

Bancassurance in Asia Pacific to 2020: Market Profile

Bancassurance in the Americas to 2020: Market Profile

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Gurveer Vasir
Marketing ExecutiveT: +44 (0) 203 220 0806
E: gurveer.vasir@uk.timetric.com
W: www.timetric.com