Bancassurance Market valued at US$ 1343.55 Billion in 2022 is expected to reach a value of US$2125.31 Billion by 2030, exhibiting a CAGR of 5.9%.
Bancassurance is a partnership between a bank and an insurance company in which the bank earns additional revenue by selling the insurance company’s products.
It also assists banks in expanding their financial product portfolios, resulting in increased turnover with little or no capital outlay and a good return on equity.
Bancassurance benefits insurance companies by increasing their market reach and expanding their customer base, as banks have become the primary distribution channels for insurance products.
This arrangement is gaining popularity around the world since it can be advantageous for both companies. The bancassurance is divided into two types of business models: integrated and non-integrated. The integrated bank model is solely bank-centric.
This is how the model works.
The continued introduction of mobile-based services by various banks around the world, which allows them to improve their digital sales, is encouraging for the market’s growth. Other factors predicted to drive market expansion over the forecast period include an expanding middle-class population, evolving customer shopping patterns, and the rollout of high-speed internet networks.
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Global Bancassurance Market: Segmentations
Key Players
- ABN AMRO Bank N.V.
- American Express Company
- Banco Bradesco SA
- Banco Santander, S.A.
- Barclays plc
- BNP Paribas
- Citigroup, Inc.
- Crédit Agricole
- HSBC Group
- ING Group
- Intesa Sanpaolo Group
- Lloyds Banking Group
- Mitsubishi UFJ Financial Group Inc.
- Mizuho Financial Group, Inc.
- NongHyup Financial Group
- Nordea Bank
- Royal Bank of Canada
- Societe Generale
- Wells Fargo
Based On Type:
- Life Bancasuurance
- Non-Life Bancassurance
- Based on Model
- Joint Venture
- Financial Holding
- Exclusive
- Pure Distributor
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Table Of Contents
- Introduction and Market Overview
- Executive Summary
- Trends, Outlook, and Factors Analysis
- Estimates & Historic Trend Analysis (2018 to 2021)
- Estimates & Forecast Trend Analysis, by Component
- Estimates & Forecast Trend Analysis, by Type
- Estimates & Forecast Trend Analysis, by Mobility
- Estimates & Forecast Trend Analysis, by Body part
- Estimates & Forecast Trend Analysis, by Treatment type
- Estimates & Forecast Trend Analysis, by Application
- Analysis and Forecast, by Region
- North America Bancassurance Market: Estimates & Forecast Trend Analysis
- Europe Bancassurance Market: Estimates & Forecast Trend Analysis
- Asia Pacific Bancassurance Market: Estimates & Forecast Trend Analysis
- Middle East & Africa Bancassurance Market: Estimates & Forecast Trend Analysis
- Latin America Bancassurance Market: Estimates & Forecast Trend Analysis
- Competitive Landscape
- Company Profiles
- Assumptions and Research Methodology
- Conclusions and Recommendations
Key Questions Answered in This Report
- What was the size of this market in 2021?
- What is the expected growth rate of this market during 2022-2027?
- What are the key factors driving this market?
- What has been the impact of COVID-19 on this market?
- What is the breakup of this market based on the product type?
- What is the breakup of the global bancassurance market based on the model type?
- What are the key regions in the global bancassurance market?
- Who are the key players/companies in the global bancassurance market?
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