DUBLIN, Sept. 14, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/g6ms4m/global) has announced the addition of the "Global Bancassurance Market 2015-2019" report to their offering.
The present scenario and growth prospects of the global bancassurance market for the period 2015-2019. To determine the market size, we use the total value of premiums collected by banks for the insurance policies sold to their customers. The market can be segmented into two: life bancassurance and non-life bancassurance.
Emerging markets such as China and India are exhibiting high growth potential for bancassurance. The regulatory authorities have recognized the potential of the bancassurance model in these countries and have relaxed their norms to encourage private insurance players to integrate with banks.
According to the report, the bancassurance model helps banks to increase their financial product portfolio and cross-sell insurance products. As insurance is an integral part of financial planning for an individual or enterprise, the addition of insurance products to the product portfolio creates income streams and enhances the banks' revenue.
Further, the report states that it is difficult for banks to position themselves to sell insurance products, especially in countries where the market penetration of banks is already low. Therefore, market positioning and branding to promote banks as a potential insurance distributor is crucial in bancassurance. However, it is expensive and requires huge effort.
Key vendors
- American Express
- Banco Santander
- BNP Paribas Cardif
- Citigroup
- Crédit Agricole
- HSBC
- ING
- Wells Fargo
Other prominent vendors
- ABN AMRO
- ANZ
- Banco Bradesco
- Barclays
- Crédit Mutuel
- Intesa Sanpaolo
- Lloyds Bank Group
- NongHyup Financial Group
- Nordea Group
- Société Générale
For more information visit http://www.researchandmarkets.com/research/g6ms4m/global
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