Bancassurance Market By Insurance Type, By Model Type, By End User : Global Opportunity Analysis and Industry Forecast, 2021-2031

Description

List of Tables

Bancassurance refers to an agreement between a bank and an insurance company. In bancassurance, the insurance company can use the bank's distribution channels to sell products. Banks, in return, receive a certain fee from the insurance company. Moreover, banks can ultimately collect extra revenue and augment their profits by selling insurance policies. On the other hand, insurance companies can effectively expand their customer base without investing in deploying additional sales force or paying commission to brokers and agents.

There is an increase in the demand for bancassurance service due to rise in number of customers in banks. In developing countries such as India, Indonesia and others, there has been a significant growth in the number of bank account holders. Therefore, as the customer base of the banks increase there are high chances for the bancassurance for selling their policies to these customers. In addition, higher customer retention and increased profitability for both the banks and insurance companies drive the growth of the market. However, sale of policies depend upon the business of the bank and it is difficult for the banks for cross selling of insurance products have emerged as key industry problems. On the contrary, surge in demand for insurance policies is projected to further give major opportunity for the bancassurance market growth.

The bancassurance market is segmented on the basis of insurance type, model type, end user, and region. By insurance type, it is bifurcated into life insurance and non-life insurance. By model type, it is divided into pure distributor model, strategic alliance model, joint venture model, financial holding, and others. By end user, it is classified into personal and business. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the Bancassurance service market such as American Express Company, ABN AMRO Bank N.V., BNP Paribas S.A, Barclays PLC, Citigroup, INC, HSBC Group, State Bank of India, Scotiabank, Standard Chartered, and Wells Fargo. These players have adopted various strategies to increase their market penetration and strengthen their position in the bancassurance service market share.

Key benefits for stakeholders

The study provides in-depth analysis of the global bancassurance service market along with the current & future trends to illustrate the imminent investment pockets.
Information about key drivers, restrains, & opportunities and their impact analysis on the global bancassurance service market size are provided in the report.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global bancassurance service market from 2022 to 2031 is provided to determine the market potential.

Key Market Segments

By Insurance Type

Life Insurance
Non-Life Insurance

By Model Type

Pure Distributor Model
Strategic Alliance Model
Joint Venture Model
Financial Holding
Others

By End User

Personal
Business

By Region

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Mitsubishi UFJ Financial Group, Inc.
- American Express Company
- Standard Chartered
- Wells Fargo
- Scotiabank
- State Bank of India
- HSBC Group
- Citigroup, Inc.
- BNP Paribas
- ABN AMRO Bank N.V.

Product Code: A05677

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.CXO Perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings
- 3.2.1.Top investment pockets
3.3.Porter's five forces analysis
3.4.Market dynamics
- 3.4.1.Drivers
  - 3.4.1.1. Increased profitability for both the banks and insurance companies
  - 3.4.1.2. Higher customer retention
  - 3.4.1.3. Increasing number of customers in banks
- 3.4.2.Restraints
  - 3.4.2.1. Sell of policies depend upon the business of the bank
  - 3.4.2.2. It is difficult for the bankers for crossselling of insurance products
- 3.4.3.Opportunities
  - 3.4.3.1. Growing demand for insurance policies
3.5.COVID-19 Impact Analysis on the market

CHAPTER 4: BANCASSURANCE MARKET, BY INSURANCE TYPE

4.1 Overview
- 4.1.1 Market size and forecast
4.2. Life Insurance
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market share analysis by country
4.3. Non-Life Insurance
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market share analysis by country

CHAPTER 5: BANCASSURANCE MARKET, BY MODEL TYPE

5.1 Overview
- 5.1.1 Market size and forecast
5.2. Pure Distributor Model
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market share analysis by country
5.3. Strategic Alliance Model
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market share analysis by country
5.4. Joint Venture Model
- 5.4.1 Key market trends, growth factors and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market share analysis by country
5.5. Financial Holding
- 5.5.1 Key market trends, growth factors and opportunities
- 5.5.2 Market size and forecast, by region
- 5.5.3 Market share analysis by country
5.6. Others
- 5.6.1 Key market trends, growth factors and opportunities
- 5.6.2 Market size and forecast, by region
- 5.6.3 Market share analysis by country

CHAPTER 6: BANCASSURANCE MARKET, BY END USER

6.1 Overview
- 6.1.1 Market size and forecast
6.2. Personal
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market share analysis by country
6.3. Business
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market share analysis by country

CHAPTER 7: BANCASSURANCE MARKET, BY REGION

7.1 Overview
- 7.1.1 Market size and forecast
7.2 North America
- 7.2.1 Key trends and opportunities
- 7.2.2 North America Market size and forecast, by Insurance Type
- 7.2.3 North America Market size and forecast, by Model Type
- 7.2.4 North America Market size and forecast, by End User
- 7.2.5 North America Market size and forecast, by country
  - 7.2.5.1 U.S.
  - 7.2.5.1.1 Key market trends, growth factors and opportunities
  - 7.2.5.1.2 Market size and forecast, by Insurance Type
  - 7.2.5.1.3 Market size and forecast, by Model Type
  - 7.2.5.1.4 Market size and forecast, by End User
  - 7.2.5.2 Canada
  - 7.2.5.2.1 Key market trends, growth factors and opportunities
  - 7.2.5.2.2 Market size and forecast, by Insurance Type
  - 7.2.5.2.3 Market size and forecast, by Model Type
  - 7.2.5.2.4 Market size and forecast, by End User
7.3 Europe
- 7.3.1 Key trends and opportunities
- 7.3.2 Europe Market size and forecast, by Insurance Type
- 7.3.3 Europe Market size and forecast, by Model Type
- 7.3.4 Europe Market size and forecast, by End User
- 7.3.5 Europe Market size and forecast, by country
  - 7.3.5.1 UK
  - 7.3.5.1.1 Key market trends, growth factors and opportunities
  - 7.3.5.1.2 Market size and forecast, by Insurance Type
  - 7.3.5.1.3 Market size and forecast, by Model Type
  - 7.3.5.1.4 Market size and forecast, by End User
  - 7.3.5.2 Germany
  - 7.3.5.2.1 Key market trends, growth factors and opportunities
  - 7.3.5.2.2 Market size and forecast, by Insurance Type
  - 7.3.5.2.3 Market size and forecast, by Model Type
  - 7.3.5.2.4 Market size and forecast, by End User
  - 7.3.5.3 France
  - 7.3.5.3.1 Key market trends, growth factors and opportunities
  - 7.3.5.3.2 Market size and forecast, by Insurance Type
  - 7.3.5.3.3 Market size and forecast, by Model Type
  - 7.3.5.3.4 Market size and forecast, by End User
  - 7.3.5.4 Italy
  - 7.3.5.4.1 Key market trends, growth factors and opportunities
  - 7.3.5.4.2 Market size and forecast, by Insurance Type
  - 7.3.5.4.3 Market size and forecast, by Model Type
  - 7.3.5.4.4 Market size and forecast, by End User
  - 7.3.5.5 Spain
  - 7.3.5.5.1 Key market trends, growth factors and opportunities
  - 7.3.5.5.2 Market size and forecast, by Insurance Type
  - 7.3.5.5.3 Market size and forecast, by Model Type
  - 7.3.5.5.4 Market size and forecast, by End User
  - 7.3.5.6 Rest of Europe
  - 7.3.5.6.1 Key market trends, growth factors and opportunities
  - 7.3.5.6.2 Market size and forecast, by Insurance Type
  - 7.3.5.6.3 Market size and forecast, by Model Type
  - 7.3.5.6.4 Market size and forecast, by End User
7.4 Asia-Pacific
- 7.4.1 Key trends and opportunities
- 7.4.2 Asia-Pacific Market size and forecast, by Insurance Type
- 7.4.3 Asia-Pacific Market size and forecast, by Model Type
- 7.4.4 Asia-Pacific Market size and forecast, by End User
- 7.4.5 Asia-Pacific Market size and forecast, by country
  - 7.4.5.1 China
  - 7.4.5.1.1 Key market trends, growth factors and opportunities
  - 7.4.5.1.2 Market size and forecast, by Insurance Type
  - 7.4.5.1.3 Market size and forecast, by Model Type
  - 7.4.5.1.4 Market size and forecast, by End User
  - 7.4.5.2 Japan
  - 7.4.5.2.1 Key market trends, growth factors and opportunities
  - 7.4.5.2.2 Market size and forecast, by Insurance Type
  - 7.4.5.2.3 Market size and forecast, by Model Type
  - 7.4.5.2.4 Market size and forecast, by End User
  - 7.4.5.3 India
  - 7.4.5.3.1 Key market trends, growth factors and opportunities
  - 7.4.5.3.2 Market size and forecast, by Insurance Type
  - 7.4.5.3.3 Market size and forecast, by Model Type
  - 7.4.5.3.4 Market size and forecast, by End User
  - 7.4.5.4 Australia
  - 7.4.5.4.1 Key market trends, growth factors and opportunities
  - 7.4.5.4.2 Market size and forecast, by Insurance Type
  - 7.4.5.4.3 Market size and forecast, by Model Type
  - 7.4.5.4.4 Market size and forecast, by End User
  - 7.4.5.5 South Korea
  - 7.4.5.5.1 Key market trends, growth factors and opportunities
  - 7.4.5.5.2 Market size and forecast, by Insurance Type
  - 7.4.5.5.3 Market size and forecast, by Model Type
  - 7.4.5.5.4 Market size and forecast, by End User
  - 7.4.5.6 Rest of Asia-Pacific
  - 7.4.5.6.1 Key market trends, growth factors and opportunities
  - 7.4.5.6.2 Market size and forecast, by Insurance Type
  - 7.4.5.6.3 Market size and forecast, by Model Type
  - 7.4.5.6.4 Market size and forecast, by End User
7.5 LAMEA
- 7.5.1 Key trends and opportunities
- 7.5.2 LAMEA Market size and forecast, by Insurance Type
- 7.5.3 LAMEA Market size and forecast, by Model Type
- 7.5.4 LAMEA Market size and forecast, by End User
- 7.5.5 LAMEA Market size and forecast, by country
  - 7.5.5.1 Latin America
  - 7.5.5.1.1 Key market trends, growth factors and opportunities
  - 7.5.5.1.2 Market size and forecast, by Insurance Type
  - 7.5.5.1.3 Market size and forecast, by Model Type
  - 7.5.5.1.4 Market size and forecast, by End User
  - 7.5.5.2 Middle East
  - 7.5.5.2.1 Key market trends, growth factors and opportunities
  - 7.5.5.2.2 Market size and forecast, by Insurance Type
  - 7.5.5.2.3 Market size and forecast, by Model Type
  - 7.5.5.2.4 Market size and forecast, by End User
  - 7.5.5.3 Africa
  - 7.5.5.3.1 Key market trends, growth factors and opportunities
  - 7.5.5.3.2 Market size and forecast, by Insurance Type
  - 7.5.5.3.3 Market size and forecast, by Model Type
  - 7.5.5.3.4 Market size and forecast, by End User

CHAPTER 8: COMPANY LANDSCAPE

8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021

CHAPTER 9: COMPANY PROFILES

9.1 Scotiabank
- 9.1.1 Company overview
- 9.1.2 Key Executives
- 9.1.3 Company snapshot
- 9.1.4 Operating business segments
- 9.1.5 Product portfolio
- 9.1.6 Business performance
- 9.1.7 Key strategic moves and developments
9.2 HSBC Group
- 9.2.1 Company overview
- 9.2.2 Key Executives
- 9.2.3 Company snapshot
- 9.2.4 Operating business segments
- 9.2.5 Product portfolio
- 9.2.6 Business performance
- 9.2.7 Key strategic moves and developments
9.3 Citigroup, Inc.
- 9.3.1 Company overview
- 9.3.2 Key Executives
- 9.3.3 Company snapshot
- 9.3.4 Operating business segments
- 9.3.5 Product portfolio
- 9.3.6 Business performance
- 9.3.7 Key strategic moves and developments
9.4 ABN AMRO Bank N.V.
- 9.4.1 Company overview
- 9.4.2 Key Executives
- 9.4.3 Company snapshot
- 9.4.4 Operating business segments
- 9.4.5 Product portfolio
- 9.4.6 Business performance
- 9.4.7 Key strategic moves and developments
9.5 American Express Company
- 9.5.1 Company overview
- 9.5.2 Key Executives
- 9.5.3 Company snapshot
- 9.5.4 Operating business segments
- 9.5.5 Product portfolio
- 9.5.6 Business performance
- 9.5.7 Key strategic moves and developments
9.6 Standard Chartered
- 9.6.1 Company overview
- 9.6.2 Key Executives
- 9.6.3 Company snapshot
- 9.6.4 Operating business segments
- 9.6.5 Product portfolio
- 9.6.6 Business performance
- 9.6.7 Key strategic moves and developments
9.7 State Bank of India
- 9.7.1 Company overview
- 9.7.2 Key Executives
- 9.7.3 Company snapshot
- 9.7.4 Operating business segments
- 9.7.5 Product portfolio
- 9.7.6 Business performance
- 9.7.7 Key strategic moves and developments
9.8 BNP Paribas
- 9.8.1 Company overview
- 9.8.2 Key Executives
- 9.8.3 Company snapshot
- 9.8.4 Operating business segments
- 9.8.5 Product portfolio
- 9.8.6 Business performance
- 9.8.7 Key strategic moves and developments
9.9 Mitsubishi UFJ Financial Group, Inc.
- 9.9.1 Company overview
- 9.9.2 Key Executives
- 9.9.3 Company snapshot
- 9.9.4 Operating business segments
- 9.9.5 Product portfolio
- 9.9.6 Business performance
- 9.9.7 Key strategic moves and developments
9.10 Wells Fargo
- 9.10.1 Company overview
- 9.10.2 Key Executives
- 9.10.3 Company snapshot
- 9.10.4 Operating business segments
- 9.10.5 Product portfolio
- 9.10.6 Business performance
- 9.10.7 Key strategic moves and developments