Bharat Book

Bancassurance in India Life, Non-Life and Creditor Insurance

News   •   Jun 13, 2013 12:27 IST

Drawing on the results of a survey of 72 banking entities in India, the study verifies the percentage of organisations investigated that distribute each of the following 13 types of insurance: accident insurance, creditor insurance related to consumer finance, creditor insurance related to credit cards, creditor insurance related to mortgages, critical illness insurance, health / hospital cash plans, household insurance, income protection insurance, investment-related life insurance, medical expenses insurance, personal motor insurance, retirement savings, and risk life insurance.
 For those banking entities that are active in one or more of these fields, the reports ascertain the operating models that they use to source the type of insurance in question (e.g. external, joint venture or captive underwriters) and the identity of the specific providers used. This information is then displayed in terms of the weighted share of partnerships of these providers, which takes into account the number of retail customers of the partner banking entities, thus highlighting those insurance companies that hold the distribution relationships that offer the most potential.
 You may be able to use this report, plus the PartnerBASE™ dataset and market data annexes that accompany it, in one or more of the following ways:
 - gain access to a source of information that provides a comprehensive overview of the provision of personal insurance products by all significant banking entities in India;
 - identify partnership opportunities for the same personal insurance products that may arise either because a banking institution is not currently active or because there is scope for replacing an existing initiative;
 - understand which underwriters and other product providers have been successful in establishing distribution relationships with the most important banking entities in India;
 - assess how the evolving regulatory environment may open up or block opportunities for your organisation to sell through the bank distribution channel;
 - appreciate the magnitude of the opportunity to sell personal insurance products through banks and other lending institutions in India.
 Overall, in a market characterised by the involvement of over 20 joint venture underwriters, across the 72 banks and other lending institutions researched in India, Finaccord’s research identified over 500 bancassurance distribution initiatives for the various types of insurance investigated.
 What is this report about?
 Distribution partnerships with banks and other lending institutions constitute the focus of this report
 Bancassurance is the most rapidly growing distribution channel in India
 Survey of banks and other lending institutions
 Market data
 Investment-related life insurance
 Retirement savings
 Risk life insurance
 Critical illness insurance
 Income protection insurance
 Accident insurance
 Health / hospital cash plans
 Medical expenses insurance
 Personal motor insurance
 Household insurance
 Creditor insurance
 Mortgages, consumer finance and credit cards
 Weighted provider share of partnerships
 Operating models
 Abbreviations and exchange rates
 PartnerBASE™ and market data annexe
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