Bancassurance, a concept virtually unheard of prior to 2000, hassince gained importance in many countries, particularly in Indiaand China.
|The French term refers to the selling of insurance through abank's established distribution channels, known as a bancassurer,which can offer banking, insurance, lending and investment productssimultaneously.
|Bancassurance is not without its critics, who contend thatallowing banks to sell insurance gives them too much control overthe financial-services sector.
|Its growth has been driven by regulatory reforms in key emergingmarkets.
|Amit Kalra, co-author of the Swiss Re study “Insurance inEmerging Markets: Growth Drivers and Profitability,” notes that inIndia, bancassurance premiums represented 22 percent of newbusiness premiums for private-sector players in 2010.
|“With a growing middle class and over 70,000 bank branches,bancassurance in India has plenty of room to expand,” Kalraadds.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
