A practical approach to blend insurance in the banking network

Abstract

PurposeThe purpose of this paper is to look at the main empirical findings related to the bank‐insurance model and to outline the market practices across the world. The market dynamics underpinning the bancassurance phenomenon are analyzed alongside discussions of the various bancassurance products and bank‐insurance modes of entry.Design/methodology/approachThe paper presents a brief survey of the bank‐insurance trend and provides an insight into the underlying dynamics and corporate structures of financial conglomerates.FindingsThere is an uneven success of the bancassurance phenomenon across the world. It is not clear whether re‐regulation is the cause or response to globalization, and vice versa, which in turn both shape the bancassurance arena. A number of incentives for the formation of financial conglomerates are identified. Finally, three modes of entry have been documented to reflect market realities.Originality/valueThe paper will be of value to those interested in financial conglomerates, banking and insurance. It is suitable for academics and practitioners alike.

Contribution of Bancassurance on the Performance of Bank: A Case Study of Acquisition of Shares in Max New York Life Insurance by Axis Bank

“…Artikis, et al [33] USA Europe N.A. To observe the bank-insurance trend and provides an insight into the underlying dynamics and corporate structures of financial conglomerates.…”

Factors Influencing the Buying Behaviour of Millennials Towards Insurance Products in the Nigerian Insurance Market

“…The process in which banks sells insurance products of its own insurance subsidiary, either through its own distribution channel or through outside agents is referred to as Bancassurance, Yuan (2011), Bancassurance has been traced back to France in 1980's with the development of the consumer and mortgage credit as well as the liberalisation of the financial markets (Artikis, Mutenga & Staikouras;2008).…”

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“…The process in which banks sells insurance products of its own insurance subsidiary, either through its own distribution channel or through outside agents is referred to as Bancassurance, Yuan (2011), Bancassurance has been traced back to France in 1980's with the development of the consumer and mortgage credit as well as the liberalisation of the financial markets (Artikis, Mutenga & Staikouras;.…”