Global Bancassurance Market Forecast to 2018-2023

Posted by Bharat Book on September 10th, 2018

Bharat Book Bureau Provides the Trending Market Research Report on “Bancassurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” under Services category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

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. According to the latest report by our Group, titled “Bancassurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global bancassurance market has reached a value of more than US$ 1,040.7 Billion in 2017.

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.

Request a free sample copy of Bancassurance Market Report @ https://www.bharatbook.com/MarketReports/Sample/Reports/1225863

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.

Market Summary:

Based on product type, the market has been segmented as life bancassurance and non-life bancassurance. Currently, life bancassurance dominate the market, holding the largest share.

Based on the types of bancassurance models, the market has been segmented into pure distributor, strategic alliance, joint venture and wholly-owned insurer/bank.

Region-wise, the market has been segmented into Asia Pacific, Europe, Latin America, North America, and Middle East and Africa. Amongst these, Asia Pacific is the leading market, accounting for the majority of the global share.

The competitive landscape of the market has also been examined with some of the key players being American Express, Banco Santander, BNP Paribas, Citigroup, Crédit Agricole, HSBC, ING Group, Wells Fargo, ABN AMRO, ANZ, Banco Bradesco, Barclays, Crédit Mutuel, Intesa Sanpaolo, Lloyds Bank Group, NongHyup Financial Group, Nordea Group and Société Générale.

This report provides a deep insight into the global bancassurance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the bancassurance market in any manner.

Browse our full report with Table of Contents : https://www.bharatbook.com/MarketReports/Bancassurance-Market-Global-Industry-Trends-Share-Size-Growth-Opportunity-and-Forecast-2018-2023/1225863

About Bharat Book Bureau:

Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 4,80,000 reports and insights that includes latest Market Study, Industry Trends & Analysis, Forecasts & Customized Intelligence, Newsletters and Online Databases. Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors.

Contact us at:

Bharat Book Bureau

Tel: +91 22 27810772 / 27810773

Email: poonam@bharatbook.com

Website: www.bharatbook.com

Follow us on : Twitter, Facebook, LinkedIn, Google Plus