bancassurance
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Banks in Italy currently hold just 4% of the general insurance market, however, with significant growth in demand for commercial insurance such as directors’ and officers’ Maurizio Ghilosso explains why this might be the ideal channel to tap into this market. The bancassurance market in Italy is burgeoning and is seen by many as a distribution channel that has great market potential for commercial insurance. An example of this is the agreement Dual Italia, part of the Dual Group, announced in May with Intesa Sanpaolo Group, the largest bank in Italy and one of the largest in Europe, to sell directors' and officers' policies through all of the bank's branches that service corporate clients.
Bancassurance a growth channel for commercial insurance - Insurance Insight
01 Jul 2011 My daughter has a current account with Lloyds Banking Group. She doesn’t want one: she hates banks.
Lloyds set to disappoint on bancassurance pledge
Bancassurance in Gulf and Middle East
Bancassurance represents a strategy whereby banks and insurance companies cooperate in more than one ways to tap the financial markets. It starts with the distribution of insurance products at its core but goes on to integrate Pension and Investment products into its portfolio, the concept sometimes also termed as ‘alfinanz’. The concept of bancassurance doesn’t refer specifically to ‘distribution’, other features such as legal, fiscal, cultural and behavioral aspects form an integral part of the concept. The interplay of all these factors determines the direction and extent of bancassurance in a particular country or a region at a given time.
Bancassurance looked to be falling out of fashion, a victim of new capital rules, dubious commercial logic and the forced breakups of ING Groep and Royal Bank of Scotland Group. But Zurich Financial Services' $1.7 billion distribution deal with Banco Santander suggests there is life left in partnerships between insurers and banks. Banks still are attractive shop fronts for insurers' products.
HEARD ON THE STREET: Bancassurance No Longer Such a Dirty Word - WSJ.com
Bancassurance: Life branches? | The Economist
THE selling of insurance by banks, and vice versa, is a simple enough concept in theory. In practice, though, as Allianz and Dresdner may discover, it is often far from straightforward. In the case of Citibank, for instance, hopes were high following its 1998 merger with Travelers Group that the latter’s insurance products would be sold to the bank’s customers.