Bancassurance Market by Product (Life Bancassurance, Non-Life Bancassurance), Type (Joint Venture, Pure Distributor, Strategic Alliance), End-User - Global Forecast 2023-2030
The Bancassurance Market is projected to reach USD 3.00 billion by 2030 from USD 1.40 billion in 2022, at a CAGR of 9.93% during the forecast period.
Market Segmentation & Coverage:
This research report analyzes various sub-markets, forecasts revenues, and examines emerging trends in each category to provide a comprehensive outlook on the Bancassurance Market.
- Based on Product, market is studied across Life Bancassurance and Non-Life Bancassurance. The Life Bancassurance is further studied across Endowment Plans, Term Insurance Plans, and Unit Linked Insurance Plans. The Non-Life Bancassurance is projected to witness significant market share during forecast period.
- Based on Type, market is studied across Joint Venture, Pure Distributor, Strategic Alliance, and Wholly-Owned Insurer/Bank. The Joint Venture is projected to witness significant market share during forecast period.
- Based on End-User, market is studied across Business and Personal. The Personal is projected to witness significant market share during forecast period.
- Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific is projected to witness significant market share during forecast period.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is an indispensable tool for assessing the Bancassurance Market. It comprehensively evaluates vendors, analyzing key metrics related to Business Strategy and Product Satisfaction. This enables users to make informed decisions tailored to their specific needs. Through advanced analysis, vendors are categorized into four distinct quadrants, each representing a different level of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V). Be assured that this insightful framework empowers decision-makers to navigate the market with confidence.
Market Share Analysis:
The Market Share Analysis offers invaluable insights into the vendor landscape Bancassurance Market. By evaluating their impact on overall revenue, customer base, and other key metrics, we provide companies with a comprehensive understanding of their performance and the competitive environment they confront. This analysis also uncovers the level of competition in terms of market share acquisition, fragmentation, dominance, and industry consolidation during the study period.
Key Company Profiles:
The report delves into recent significant developments in the Bancassurance Market, highlighting leading vendors and their innovative profiles. These include ABN AMRO, Agile FinTech FZ-LLC, American Express Banking Corp., Australia and New Zealand Banking Group Ltd., Banco Santander S.A., Bank of Maharashtra, Barclays PLC, Central Bank of India, Citigroup Inc., Crédit Agricole Group, DBS Bank Ltd., Halifax by Bank of Scotland PLC, HSBC Holdings PLC, Indian Bank, ING Group, Intesa Sanpaolo, JPMorgan Chase & Co., Lloyds Bank Group PLC, Manulife Financial Corporation, NongHyup Financial Group, Inc., Punjab National Bank, Regions Bank, RGA Reinsurance Company, Société Générale, The BNP Paribas Group, UCO Bank, UMB Financial Corp., Wells Fargo Bank, and Zurich Insurance Group.
The report offers valuable insights on the following aspects:
- Market Penetration: It provides comprehensive information about key players' market dynamics and offerings.
- Market Development: In-depth analysis of emerging markets and penetration across mature market segments, highlighting lucrative opportunities.
- Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.
- Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.
- Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast for the Bancassurance Market?
- Which products, segments, applications, and areas hold the highest investment potential in the Bancassurance Market?
- What is the competitive strategic window for identifying opportunities in the Bancassurance Market?
- What are the latest technology trends and regulatory frameworks in the Bancassurance Market?
- What is the market share of the leading vendors in the Bancassurance Market?
- Which modes and strategic moves are suitable for entering the Bancassurance Market?
Please Note: PDF & Excel + Online Access - 1 Year
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Limitations
- 1.7. Assumptions
- 1.8. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 4.1. Introduction
- 4.2. Bancassurance Market, by Region
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Rise of bancassurance as a one-stop-shop for all financial services & insurance
- 5.1.1.2. Assistance in proliferating insurance products in rural and urban markets
- 5.1.1.3. Expand their service offerings by banks for customer retention and revenue generation
- 5.1.2. Restraints
- 5.1.2.1. Operational and performance risks associated with bancassurance
- 5.1.3. Opportunities
- 5.1.3.1. Advancements in bancassurance solutions and products
- 5.1.3.2. Investments in private-sector banking to introduce systemic changes
- 5.1.4. Challenges
- 5.1.4.1. Regulatory restrictions and strict legal requirements for setting up bancassurance
- 5.2. Market Segmentation Analysis
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of COVID-19
- 5.5. Cumulative Impact of Russia-Ukraine Conflict
- 5.6. Cumulative Impact of High Inflation
- 5.7. Porter’s Five Forces Analysis
- 5.7.1. Threat of New Entrants
- 5.7.2. Threat of Substitutes
- 5.7.3. Bargaining Power of Customers
- 5.7.4. Bargaining Power of Suppliers
- 5.7.5. Industry Rivalry
- 5.8. Value Chain & Critical Path Analysis
- 5.9. Regulatory Framework
- 5.10. Client Customization
- 6. Bancassurance Market, by Product
- 6.1. Introduction
- 6.2. Life Bancassurance
- 6.3.1. Endowment Plans
- 6.3.2. Term Insurance Plans
- 6.3.3. Unit Linked Insurance Plans
- 6.3. Non-Life Bancassurance
- 7. Bancassurance Market, by Type
- 7.1. Introduction
- 7.2. Joint Venture
- 7.3. Pure Distributor
- 7.4. Strategic Alliance
- 7.5. Wholly-Owned Insurer/Bank
- 8. Bancassurance Market, by End-User
- 8.1. Introduction
- 8.2. Business
- 8.3. Personal
- 9. Americas Bancassurance Market
- 9.1. Introduction
- 9.2. Argentina
- 9.3. Brazil
- 9.4. Canada
- 9.5. Mexico
- 9.6. United States
- 10. Asia-Pacific Bancassurance Market
- 10.1. Introduction
- 10.2. Australia
- 10.3. China
- 10.4. India
- 10.5. Indonesia
- 10.6. Japan
- 10.7. Malaysia
- 10.8. Philippines
- 10.9. Singapore
- 10.10. South Korea
- 10.11. Taiwan
- 10.12. Thailand
- 10.13. Vietnam
- 11. Europe, Middle East & Africa Bancassurance Market
- 11.1. Introduction
- 11.2. Denmark
- 11.3. Egypt
- 11.4. Finland
- 11.5. France
- 11.6. Germany
- 11.7. Israel
- 11.8. Italy
- 11.9. Netherlands
- 11.10. Nigeria
- 11.11. Norway
- 11.12. Poland
- 11.13. Qatar
- 11.14. Russia
- 11.15. Saudi Arabia
- 11.16. South Africa
- 11.17. Spain
- 11.18. Sweden
- 11.19. Switzerland
- 11.20. Turkey
- 11.21. United Arab Emirates
- 11.22. United Kingdom
- 12. Competitive Landscape
- 12.1. FPNV Positioning Matrix
- 12.2. Market Share Analysis, By Key Player
- 12.3. Competitive Scenario Analysis, By Key Player
- 12.3.1. Merger & Acquisition
- 12.3.1.1. Turtlemint’s Turtlefin Acquires Insurtech SaaS Startup Last Decimal
- 12.3.2. Agreement, Collaboration, & Partnership
- 12.3.2.1. Canada's Sun Life Clinches USD 192 million Bancassurance Deal with Dah Sing Bank
- 12.3.2.2. Malaysia's Affin Bank to Merge General Insurance Arm with Generali
- 12.3.3. New Product Launch & Enhancement
- 12.3.3.1. Bandhan Group mulls Foray into Insurance Business
- 13. Competitive Portfolio
- 13.1. Key Company Profiles
- 13.1.1. ABN AMRO
- 13.1.2. Agile FinTech FZ-LLC
- 13.1.3. American Express Banking Corp.
- 13.1.4. Australia and New Zealand Banking Group Ltd.
- 13.1.5. Banco Santander S.A.
- 13.1.6. Bank of Maharashtra
- 13.1.7. Barclays PLC
- 13.1.8. Central Bank of India
- 13.1.9. Citigroup Inc.
- 13.1.10. Crédit Agricole Group
- 13.1.11. DBS Bank Ltd.
- 13.1.12. Halifax by Bank of Scotland PLC
- 13.1.13. HSBC Holdings PLC
- 13.1.14. Indian Bank
- 13.1.15. ING Group
- 13.1.16. Intesa Sanpaolo
- 13.1.17. JPMorgan Chase & Co.
- 13.1.18. Lloyds Bank Group PLC
- 13.1.19. Manulife Financial Corporation
- 13.1.20. NongHyup Financial Group, Inc.
- 13.1.21. Punjab National Bank
- 13.1.22. Regions Bank
- 13.1.23. RGA Reinsurance Company
- 13.1.24. Société Générale
- 13.1.25. The BNP Paribas Group
- 13.1.26. UCO Bank
- 13.1.27. UMB Financial Corp.
- 13.1.28. Wells Fargo Bank
- 13.1.29. Zurich Insurance Group
- 13.2. Key Product Portfolio
- 14. Appendix
- 14.1. Discussion Guide
- 14.2. License & Pricing
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