Global Bancassurance Market - Upcoming Trends, Growth Drivers And Challenges – Forecast To 2020-2025
Summary –
A new
market study, “Global Bancassurance Market - Upcoming Trends, Growth
Drivers And Challenges – Forecast To 2020-2025” has been featured on WiseGuyReports.
Bankassurance is a
relationship between a bank and an insurance company, aimed at offering
insurance products or insurance benefits to the bank's customers. In this
partnership, bank staff and tellers become the point of sale and point of
contact for the customer. Bank staff are advised and supported by the insurance
company through wholesale product information, marketing campaigns and sales
training. The bank and the insurance company share the commission. Insurance
policies are processed and administered by the insurance company.This
partnership arrangement can be profitable for both companies. Banks can earn
additional revenue by selling the insurance products, while insurance companies
are able to expand their customer base without having to expand their sales
forces or pay commissions to insurance agents or brokers.
The global
bancassurance market is a sizable and increasingly important channel for
protection products, and is predicted to expand at a compound annual growth
rate (CAGR) of 6.16% from 2014 to 2019. The growth rate for bancassurance is
four times faster than the growth of life insurance in general in many markets
around the world. With this increased opportunity comes increased competition.
In order to differentiate themselves, bancassurers in both emerging and mature
markets must deliver innovative products aligned with target consumers through
efficient distribution channels.
The success of a
strategic partnership between banks and insurers is dependent on executive
buy-in, which was rated as the top factor for bancassurance success by
respondents to RGA Global Surveys on bancassurance conducted in the United
Kingdom, South Africa, Australia and New Zealand markets. In these countries,
the largest bancassurers distribute insurance products through integrated
partnerships which have aligned goals and sales targets for the banks and
insurers.
In 2017, the global
Bancassurance market size was xx million US$ and it is expected to reach xx
million US$ by the end of 2025, with a CAGR of xx% during 2018-2025.
This report focuses
on the global top players, covered
American Express
Banco Santander
BNP Paribas Cardif
Citigroup
Crédit Agricole
HSBC
ING
Wells Fargo
Market segment by
Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Market segment by
Type, the product can be split into
Life Bancassurance
Non-Life
Bancassurance
Market segment by
Application, split into
Old
Adults
Children
The study objectives
of this report are:
To study and forecast
the market size of Bancassurance in global market.
To analyze the global
key players, SWOT analysis, value and global market share for top players.
To define, describe
and forecast the market by type, end use and region.
To analyze and
compare the market status and forecast between China and major regions, namely,
United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
To analyze the global
key regions market potential and advantage, opportunity and challenge,
restraints and risks.
To identify
significant trends and factors driving or inhibiting the market growth.
To analyze the
opportunities in the market for stakeholders by identifying the high growth
segments.
To strategically
analyze each submarket with respect to individual growth trend and their
contribution to the market
To analyze
competitive developments such as expansions, agreements, new product launches,
and acquisitions in the market
To strategically
profile the key players and comprehensively analyze their growth strategies.
In this study, the
years considered to estimate the market size of Bancassurance are as follows:
History Year:
2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to
2025
For the data
information by region, company, type and application, 2017 is considered as the
base year. Whenever data information was unavailable for the base year, the
prior year has been considered.
Key Stakeholders
Bancassurance
Manufacturers
Bancassurance
Distributors/Traders/Wholesalers
Bancassurance
Subcomponent Manufacturers
Industry Association
Downstream Vendors
Available
Customizations
With the given market
data, QYResearch offers customizations according to the company's specific
needs. The following customization options are available for the report:
Regional and
country-level analysis of the Bancassurance market, by end-use.
Detailed analysis and
profiles of additional market players..
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/3252674-global-bancassurance-market-size-status-and-forecast-2025
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