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Bancassurance (2017)

12/18/2017
Bancassurance (2017)

Industry Issues

On the 20th anniversary of its 1997 European-focused bancassurance study, LIMRA is sharing the latest practices in Europe & Africa, Asia, and Latin America. Two new reports shed light on successful programs and potential growth opportunities in these regions. The reports are ideal for insurers and banks that are considering entering the bancassurance market, expanding their existing presence, troubleshooting lagging results, and more. They examine business models, challenges, growth opportunities, regulatory impacts, distribution, products, organizational relationships, training practices, and functional success drivers. This combined information helps frame a contemporary, multi-regional view of bancassurance.

No part of any report may be reproduced or translated without written permission from LIMRA. Please contact Customer Service for further information.
  RELATED RESEARCH


Key Findings

Bancassurance: Stories of Success

This report reveals the strategies and practices of successful bancassurance programs. Readers will gain insights into:

  • Why “partnership” arrangements are the dominant business models for success
  • How banks and insurers effectively collaborate
  • Key elements of training programs that tap into the relative strengths of banks, insurers, and external specialists
  • Their focus on meeting customer needs through products and distribution methods
  • Their top business challenges and initiatives to address them
  • The evolution of European bancassurers over the past 20 years

Bancassurance: Growth Opportunities

The report reveals opportunities for growth by examining the differences between self-identified successful programs and all other bancassurers. It highlights:

  • Top business challenges and how bancassurers can address them, including key customer-centric strategies and practices
  • The value and business tenets of collaborative bank-insurer relationships
  • The benefits of consumer-based strategies companies should commit to implementing [bancassurers]
  • How digital tools enhance sales, service, and education activities
  • The innovators dilemma


The Successful Bancassurance Business Model

Organizational Relationships

Key Distribution Methods


People who read this research may also be interested in:

What's on the Minds of Executives

Asia Distribution Conference

MarketFacts -Quarterly


Meet the Project Director

Larry Hartshorn
Corporate Vice President and Director, International Research
LIMRA and LOMA
lhartshorn@limra.com

Larry Hartshorn is responsible for driving LIMRA and LOMA member value and growth for global markets. This includes the development and execution of LIMRA’s international research strategy to provide insights on trends in products and distribution, consumer behavior and sentiment, and regulation and technology for markets throughout the world.  He also leads the global consulting program across the enterprise, ensuring our members can leverage our deep knowledge of best practices in the global insurance industry, gain practical solutions, and receive hands-on tactical support to solve problems and implement a variety of projects.

Prior to joining LIMRA in 2015, Larry was Aetna’s executive director for Greater China in Shanghai. His responsibilities included strategic planning, research, management operation and consulting. Larry also previously served as research program manager for The Ohio State University, managing a multi-million dollar cluster of private, state, and federal grants targeting primary, secondary and higher education curriculum reform.



For more information, Email lhartshorn@limra.com


Larry Hartshorn; Kristin Letendre; Ingrid R. Goodenow, FLMI