Bancassurance

[darnardo]

I'd like to satrt a discussion on bancassurance...

In the US bancassurance only accounts for 2% of the life insurance market but in Europe it averages 30% with wide variances per country...

In the varying bancassurance models, the joint venture type of ownership...Do the banks also underwrite the insurance along with the insurer? WHat are the specifics of this kind of ownership?

 

[CHUMPS FROM OXFORD]

I hate to say it, but I'm all pooped out on discussions about this topic.

I gave a 3-hour lecture at a recent conference (below):

10th Asian Conference on Bancassurance & Alternative Distribution Channels - Business Market Research Reports

 

[darnardo]

WOw...!

I have to give a presentation (brief) on this issue myself. I am just getting my head around the basics with a snapshot of what's going on in America (North and South), Europe and Asia.

Would really appreciate any help you could give...

 

[CHUMPS FROM OXFORD]

Perhaps this will help...I notice that in your posts, you have asked for information on a very broad range of topics.

Your best bet is to "Search" the Forum for these topics and you will pick up a wealth of information.

Re my 3-hour lecture...it dealt mainly with the impact of reduced productivity that results with increased time spent on fantasy football. So, it probably won't help you.

 

[Mark]

What is " bancassurance" . Am I the only one that has never heard of them?

 

[darnardo]

What is " bancassurance" . Am I the only one that has never heard of them?

Bancassurance: “the joint effort of banks and insurers to provide insurance services to the bank’s customer base”

​

In your professional oppinion, list the following in order of importance to the success of bancassurance:

Consumer awareness (That insurance can be purchased
through banks [currently only 47%])

Tax Benefits

IT Integration

Bank's level of Commitment (Staff training, incentives, marketing etc)

Banks Reputation

Banks Penetration (# of branches)

Products (simple bundled products to complex tailored products)

 

[CHUMPS FROM OXFORD]

Consumer awareness

Bank's level of Commitment

Products

IT Integration

Banks Reputation

Banks Penetration

Tax Benefits

 

[arnguy]

Gosh, Ed, I know you are the founder of that association with 47,000 members, but I am really impressed by your knowledge of bancassurance (and fantasy football)! BTW how did you like Singapore?

 

[CHUMPS FROM OXFORD]

Singapore was a lot of fun...but too many seedy parts. We stuck to the hotel and adjacent amusement park.

And by the way...Congrats on your recent recognition from "Keystone Medical Publications." You ought to be able to command at least four figures for your speaking engagements now.

 

[darnardo]

Hey Guru

Do you think banks are in a better position to evaluate client's risk than agents?

Singapore has seedy areas? I hang out at the seedy areas of Seoul^^