Market Research Logo

Bancassurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

Bancassurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

The 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 IMARC 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.

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.

Key Questions Answered in This Report:

How has the global bancassurance market performed so far and how will it perform in the coming years?
What are the key regional markets in the global bancassurance industry?
What are the key product types in the global bancassurance industry?
What are the key types of bancassurance models in the global bancassurance industry?
What are the various stages in the value chain of the global bancassurance market?
What are the key driving factors and challenges in the global bancassurance market?
What is the structure of the global bancassurance market and who are the key players?
What is the degree of competition in the global bancassurance market?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Bancassurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Product
5.4 Market Breakup by Bancassurance Models
5.5 Market Breakup by Region
5.6 Market Forecast
5.7 SWOT Analysis
5.7.1 Overview
5.7.2 Strengths
5.7.3 Weaknesses
5.7.4 Opportunities
5.7.5 Threats
5.8 Value Chain Analysis
5.8.1 Overview
5.8.2 Product Development
5.8.3 Marketing and Promotion
5.8.4 Lead Generation and Sales
5.8.5 New Business Processing
5.8.6 Servicing, CRM and Repeat Sales
5.9 Porters Five Forces Analysis
5.9.1 Overview
5.9.2 Bargaining Power of Buyers
5.9.3 Bargaining Power of Suppliers
5.9.4 Degree of Competition
5.9.5 Threat of New Entrants
5.9.6 Threat of Substitutes
5.10 Price Analysis
6 Market Breakup by Product
6.1 Life Bancassurance
6.2 Non-Life Bancassurance
7 Market Breakup by Bancassurance Models
7.1 Pure Distributor
7.2 Strategic Alliance
7.3 Joint Venture
7.4 Wholly-Owned Insurer/Bank
8 Market Breakup by Region
8.1 Asia Pacific
8.2 Europe
8.3 Latin America
8.4 North America
8.5 Middle East and Africa
9 Competitive Landscape
9.1 Market Structure
9.2 Key Players
9.3 Profiles of Key Players
9.3.1 American Express
9.3.2 Banco Santander
9.3.3 BNP Paribas
9.3.4 Citigroup
9.3.5 Crédit Agricole
9.3.6 HSBC
9.3.7 ING Group
9.3.8 Wells Fargo
9.3.9 ABN AMRO
9.3.10 ANZ
9.3.11 Banco Bradesco
9.3.12 Barclays
9.3.13 Crédit Mutuel
9.3.14 Intesa Sanpaolo
9.3.15 Lloyds Bank Group
9.3.16 NongHyup Financial Group
9.3.17 Nordea Group
9.3.18 Société Générale
List of Figures
Figure 1: Global: Bancassurance Market: Major Drivers and Challenges
Figure 2: Global: Bancassurance Market: Sales Value (in Billion US$), 2010-2017
Figure 3: Global: Bancassurance Market: Breakup by Product (in %), 2017
Figure 4: Global: Bancassurance Market: Breakup by Bancassurance Models (in %), 2017
Figure 5: Global: Bancassurance Market: Breakup by Region (in %), 2017
Figure 6: Global: Bancassurance Market Forecast: Sales Value (in Billion US$), 2018-2023
Figure 7: Global: Bancassurance Industry: SWOT Analysis
Figure 8: Global: Bancassurance Industry: Value Chain Analysis
Figure 9: Global: Bancassurance Industry: Porter’s Five Forces Analysis
Figure 10: Global: Bancassurance Market (Life Bancassurance): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 11: Global: Bancassurance Market (Non-Life Bancassurance): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 12: Global: Bancassurance Market (Pure Distributor): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 13: Global: Bancassurance Market (Strategic Alliance): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 14: Global: Bancassurance Market (Joint Venture): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 15: Global: Bancassurance Market (Wholly-Owned Insurer/Bank): Sales Value (in Million US$), 2010, 2017 & 2023
Figure 16: Asia Pacific: Bancassurance Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 17: Europe: Bancassurance Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 18: Latin America: Bancassurance Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 19: North America: Bancassurance Market: Sales Value (in Million US$), 2010, 2017 & 2023
Figure 20: Middle East and Africa: Bancassurance Market: Sales Value (in Million US$), 2010, 2017 & 2023
List of Tables
Table 1: Global: Bancassurance Market: Key Industry Highlights, 2017 and 2023
Table 2: Global: Bancassurance Market Forecast: Breakup by Product (in Million US$), 2018-2023
Table 3: Global: Bancassurance Market Forecast: Breakup by Bancassurance Models (in Million US$), 2018-2023
Table 4: Global: Bancassurance Market Forecast: Breakup by Region (in Million US$), 2018-2023
Table 5: Global: Bancassurance Market Structure
Table 6: Global: Bancassurance Market: Key Players

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report