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Topic: Bancassurance

	Banking on Bancassurance
		Though much ado was made about bancassurance, an alternate channel to hawk risk products through banks, the channel is yet to pick up pace as of today.
		Bancassurance primarily banks on the relationship the customer has developed over a period of time with the bank.
		Insurance companies are positive about the bancassurance channel raking in volume business at a low cost and banks have been salivating over the fee-based income that it will bring.
	www.insuremagic.com /Content/Articles/Life/bkng_bancassurance.asp (857 words)

	Marketing and Distribution Channels in Bancassurance
		The successes demonstrated by various bancassurance operations particularly in Europe have triggered an avalanche of mergers and acquisitions across continents and efforts are on to replicate the early success of bancassurance in other parts of the world as well.
		Bancassurers convey the message that they want to know all about the customer in relation to their current and future financial needs and want to assist them on all those aspects of their life.
		Bancassurance strategies should be driven by markets and channels, encompass a broad range of tactics and practices, and leverage the competencies of the bank and the insurer.
	www.einsuranceprofessional.com /artsing.htm (4603 words)

	Bancassurance - Wikipedia, the free encyclopedia
		Bancassurance is the term used to describe the sale of insurance products in a bank.
		The word is a combination of "banc" and "assurance" signifying that both banking and insurance is provided by the same corporate entity.
		In some countries, bancassurance is still largely prohibited, but it was recently legalized in countries such as the United States, when the Glass-Steagall Act was repealed after the passage of the Gramm-Leach-Bliley Act.
	en.wikipedia.org /wiki/Bancassurance (168 words)

	Bancassurance market in region yet to catch up - Zawya.com \| Middle East Business News (Site not responding. Last check: 2007-10-20)
		Bancassurance is all about the sale of insurance products through a bank's distribution channels.
		The Bancassurance market in the region is still in its early stages of development.
		Perhaps the tie-ups should start by establishing a strategic alliance between a bank and a carefully chosen insurance company where there are synergies at the level of the management and the major shareholders of the two institutions, with a full merger following at a later stage.
	www.zawya.com /Story.cfm?id=136903 (1112 words)

	Watson Wyatt Asia-Pacific - News, Asia Pacific Insurance Review
		Bancassurance is seen by many to be a significant or even the primary channel (the latter being the case for at least SBI Life).
		This is a significant increase on the equivalent 2001 statistic of 15% and is as a result of growth in significant bank-centric bancassurance operations.
		Where legislation has allowed, bancassurance has mostly been a phenomenal success and, although slow to gain pace, is now taking off across Asia, especially now that banks are starting to become more diverse financial institutions, and the concept of universal banking is being accepted.
	www.watsonwyatt.com /asia-pacific/pubs/apinsurance/showbackarticle.asp?ArticleID=13362 (1256 words)

	Watson Wyatt
		Bancassurance in the UK peaked at a market share of around 16% of the medium and long-term savings market, and is now hovering around 8%.
		In contrast, bancassurance penetration in France, Italy and Spain is in excess of 50%.
		The future success of bancassurers in the UK lies essentially in their ability to correct the mistakes of the past and to exploit the opportunity presented by the new legislation.
	www.watsonwyatt.com /europe/pubs/printable?ArticleID=10738&pub=InsuranceandFinancialServicesReview (1193 words)

	Bancassurance developments in Asia (Site not responding. Last check: 2007-10-20)
		Bancassurance penetration is expected to tangibly increase in Asia over the next 5 years, potentially accounting for 13% of life insurance premiums and 6% of non-life insurance premiums.
		Finally, bancassurance is viewed as a viable way for insurers to diversify from traditional channels while at the same time lowering distribution costs.
		Bancassurance is emerging as an important distribution channel throughout Asia.
	www.swissre.com /INTERNET/pwswpspr.nsf/alldocbyidkeylu/MBAR-5GNJ7H (680 words)

	Bancassurance (Site not responding. Last check: 2007-10-20)
		However, there are some niche markets for non-life where the bancassurers can successfully operate, such as residential fire policies tied up with mortgage loans and motor policies with car loans.
		Signing of an agreement on bancassurance between the insurance company and the bank is the easier part.
		In spite of the failures in Europe in 2002, bancassurance is now the focus of renewed interest across the world.
	www.worldinsurancebazaar.com /Articles.htm (924 words)

	Bancassurance: A SWOT Analysis (Site not responding. Last check: 2007-10-20)
		Bancassurance in its simplest form is the distribution of insurance products through a bank's distribution channels.
		Demographic profile of the country decides the kind of products bancassurance shall be dealing in with, economic situation will determine the trend in terms of turnover, market share, etc., whereas legislative climate will decide the periphery within which the bancassurance has to operate.
		Bancassurance's bank-branch based sales system sells 3 to 5 times as many insurance policies as a conventional as a conventional insurance sales and distribution force.
	www.indiainfoline.com /nevi/banc.html (2798 words)

	Insurance RM
		Bancassurance is the term given to the distribution of insurance products through the branches and multiple communication channels of a bank that include ATMs, tele banking and Internet banking.
		When bancassurance took wings in other countries, the main problem they faced was of indifference by bank employees to insurance.
		It must be understood that bancassurance is a result of heightened customer needs and advancement in technology and is a form of non-traditional marketing that is here to stay.
	www.themanagementor.com /irm/html/research_002.htm (1992 words)

	Will bancassurance click?
		Bancassurance, the much talked about channel of insurance distribution through banks that originated in France and which has been a success story in Europe is yet to take off here.
		While reams have been written about the numerous benefits of bancassurance considering the wide scale availability of risk products it will enable, rules and regulations regarding the same are yet to fall in place.
		While on the one hand it is an economical proposition to sell risk products through the numerous bank branches spread across the country the fact that claim settlement disputes take an unusually long time in our country is one of the causes for worry.
	www.insuremagic.com /Content/Articles/Life/bancassurance.asp (492 words)

	INSIDE JoongAng Daily (Site not responding. Last check: 2007-10-20)
		The Ministry of Finance and Economy and the Financial Supervisory Commission introduced measures to bring bancassurance to the market, a plan that is scheduled to fully liberalize the market by April 2007.
		Bancassurance is the offering of banking and insurance products through distribution channels of banks and other non-insurance institutions.
		The list of bancassurance products will be expanded until it runs the gamut of insurance policies in April 2007, the two government agencies said in a joint statement.
	joongangdaily.joins.com /200301/17/200301170240363509900090509052.html (380 words)

	Headstrong - Asia Insurance Review - Consultants Roundtable (Site not responding. Last check: 2007-10-20)
		On bancassurance, the views were different although many saw it as an exciting avenue with some companies reporting that some successful bank-based sellers are selling up to 30 cases a month compared to some agents who sell three to four cases a month.
		Mr Clark said bancassurance has been around long enough for some cracks to show and insurers are beginning to realise that banks, in many situations, have the balance of power and that some bancassurance partnerships are not as cost-effective as previously expected.
		Adding that the cost associated with bancassurance distribution is invariably borne by insurers, he said that, for insurers, selling through the bank provides the main advantage of reaching as many hot or warmed prospects as possible.
	www.headstrong.com /article.cfm?id=3-195 (2948 words)

	Bancassurance Consultants Worldwide Ltd.
		Foreign insurers are increasingly selling products via bank branches, boosting bancassurance services that combine banking and insurance, as they try to...
		EU inquiry deadline for Aegon, Caja Cantabria bancassurance JV Sept 28 - Forbes
		EU inquiry deadline for Aegon, Caja Cantabria bancassurance JV Sept 28 Forbes, NY -
	www.bc-worldwide.com (559 words)

	MENAFN - Middle East North Africa . Financial Network News: By Henry T. Azzam (Site not responding. Last check: 2007-10-20)
		The resistance of insurance companies to be acquired by financial institutions and the absence of vision and mutual understanding brought little synergy or strategic alliance between banks and insurance companies.
		However, conditions are changing both in Jordan and the region and we expect the leading banks to start offering Bancassurance to their clients.
		For those banks which did not yet realise the business potential of Bancassurance, this is the time to start when budgets for 2005 are being prepared.
	www.menafn.com /qn_news_story_s.asp?StoryId=66820 (1019 words)

	Sunday Times - companies - 15 Oct 2000 (Site not responding. Last check: 2007-10-20)
		Bancassurance became a buzzword a couple of years ago when the life assurer Liberty and Standard Bank Investment Corporation (Stanbic) first attempted a full merger.
		Some say bancassurance describes banks that sell life assurance, others say it is simply a merged banking and insurance group that spreads investors' risk.
		Bancassurance is most popular in Europe where, in countries like Portugal and Spain, well over 60% of new life and pensions premiums flow from bancassurance.
	www.suntimes.co.za /2000/10/15/business/companies/comp15.htm (920 words)

	Financial Express: Bancassurance -- New avenues for banks (Site not responding. Last check: 2007-10-20)
		Bancassurance, or the joint offering by a bank and an insurance company of their products within a single organisation has flourished for decades in the global markets.
		Actually, a fact that many do not know is that bancassurance existed in a rather limited form in India, as well, before the general insurance industry was nationalised in 1972, and even more so before the nationalisation of banks in 1969.
		So, even the fact that bancassurance has seen a relatively stymied growth in US and Japan, two of the world's biggest insurance markets, is not acting as much of a dampener.
	www.expressindia.com /fe/daily/19990623/fex23009p.html (1947 words)

	The Korea Times : AIG Bancassurance Premium Tops W1 Tril. (Site not responding. Last check: 2007-10-20)
		AIG Life Insurance, a U.S. life insurance company, Thursday broke the 1 trillion won mark in accumulated premium in bancassurance for the first time among life insurers operating in Korea, according to AIG.
		Foreign life insurers claimed 33.5 percent of the Korean bancassurance market in fiscal 2004 ended on March 31, up 13.7 percentage points from fiscal 2002.
		With the advent of bancassurance, small- and medium-sized life insurers have focused on whole-life insurance that breadwinners buy for their family members in case of their death.
	times.hankooki.com /lpage/biz/200507/kt2005072119390811910.htm (269 words)

	Bain & Company: Written by Bain detail < Written by Bain < Publications
		Bancassurance accounts for only a very small portion of the U.S. market and continues to be a nonfactor in the industry In Korea, where both industries are still in their infancy and have not yet undergone a complete restructuring, the challenge is to determine a model that best suits both of the financial segments.
		Despite its huge potential, bancassurance may not be a big factor for basically three reasons.
		Although bancassurance may trigger this restructuring much earlier than anybody anticipates, bancassurance regulations should not be changed to accommodate the needs of the less fortunate players.
	www.bain.com /bainweb/publications/written_by_bain_detail.asp?id=12621&menu_url=written_by_bain.asp (737 words)

	International Market Research - Bancassurance to be Introduced in August 2003 (Site not responding. Last check: 2007-10-20)
		Banks and other financial service providers may offer bancassurance by 1) acting as either an agent or broker for an existing risk underwriter; 2) acquiring an insurer; or 3) newly creating a risk underwriter as a subsidiary unit.
		Bancassurance services are to be phased in over three distinct periods as shown in the table below.
		Furthermore, since bancassurance products are expected to generate much higher profit margins than that earned from their regular lending activities, domestic banks are viewing bancassurance as an excellent vehicle to enhance their profitability.
	strategis.ic.gc.ca /epic/internet/inimr-ri.nsf/en/gr115109e.html (886 words)

	IBM - Making Bancassurance really work
		Bancassurance encompasses terms such as "Allfinanz," "Integrated Financial Services" and "Assurebanking." Bancassurance refers to a conglomerate offering both banking and insurance products, usually in the form of a holding structure of separate but interacting entities, an integrated alliance exchanging services or an integrated operational mode.
		In France, where bancassurers have nearly completed their penetration of the mass market, there is increasing emphasis on wealthy clients, but not as yet much focus on a differentiated non-life service offering.
		Corporate bancassurance is gaining momentum with many countries shifting the burden for pensions accumulation from the state to employees via their employers.
	www-1.ibm.com /industries/financialservices/doc/content/landing/884381103.html (2103 words)

	Bancassurance drives growth for SBI Life - Sify.com (Site not responding. Last check: 2007-10-20)
		The premium from bancassurance, which grew three times compared to the previous year, was the major driver of growth, he said.
		Eric Lombard, Chief Executive Officer, Cardif, a BNP Paribas company and the joint venture partner of SBI Life, said that bancassurance in India was comparable to that in some of the other Asian countries such as Korea and Taiwan.
		In countries such as France, Spain, Portugal and Italy, bancassurance contributed to nearly 60 per cent of the distribution network BNP Paribas and Cardif reported euro11.3 billion as premium in 2004-05.
	sify.com /finance/fullstory.php?id=13902119 (442 words)

	INSIDE JoongAng Daily (Site not responding. Last check: 2007-10-20)
		The planned alliance between Korea's second-largest commercial bank and the country's biggest life insurer is expected to prompt other financial institutions to step up efforts to find their partners.
		Bancassurance means the offering of banking and insurance products through distribution channels of banks and other noninsurance institutions.
		Because the government banned banks from forging an exclusive bancassurance tie-up with an insurer, Woori said that it has also selected AIG Life Insurance Korea and is negotiating with another local life insurer.
	joongangdaily.joins.com /200304/01/200304010131128609900090509052.html (392 words)

	UK Bancassurance 2004 (Site not responding. Last check: 2007-10-20)
		Datamonitor forecasts that bancassurers are unlikely to significantly increase their market share between 2003 and 2008f, despite depolarization and the government's efforts to encourage saving amongst the mass-market.
		In order to succeed in the bancassurance market, banks must strengthen relationships with their customers, identifying potential targets within their customer base and train staff to effectively sell the products.
		Bancassurers and IFAs must battle it out to see who wins in this new look distribution landscape.
	www.bharatbook.com /detail.asp?id=6207 (322 words)

	world trends
		Each bancassurance service provider is required to continuously maintain a minimum of four qualified insurance agents at the head office and a minimum of one qualified insurance agent at the branch.
		In particular, bancassurance service providers are expected to disclose to consumers that they are merely acting as sales agents and that it is the insurance companies that are underwriting the risks.
		Well before the bancassurance implementation date, banks and insurers began to pursue alliances, with domestic banks and financial holding companies moving quickly to position themselves for the new market.
	www.loma.org /res-10-04-world.asp (4855 words)

	NGI to enter 'bancassurance' next quarter - Zawya.com \| Middle East Business News (Site not responding. Last check: 2007-10-20)
		National General Insurance (NGI) will be rolling out its range of "bancassurance" products during the fourth quarter, thus becoming the first local insurer to do so on a "direct basis", according to its top official.
		Despite its obvious potential, bancassurance remains virtually virgin territory within the local insurance sector.
		NGI recorded a good first half with net profit at Dh7.2 million, putting it well in line to exceed last year's tally of Dh9 million.
	www.zawya.com /story.cfm/bus1ngi2508 (374 words)

	Standard Chartered : Investor Relations :
		This is also a first Bancassurance alliance with a bank for Prudential in Malaysia.
		The Bancassurance alliance will position Standard Chartered as a total financial solution provider with complete wealth management services and products offered in alliance with one of the world's leading life insurers, Prudential.
		The Bancassurance alliance combines the strengths of two large corporations, both founded in the UK with long histories of offering financial products and services attuned to the needs of their customers.
	investors.standardchartered.com /ReleaseDetail.cfm?ReleaseID=123563 (582 words)

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