Bank assurance, the sale of life insurance and pensions products through a bank, has proved to be an effective distribution channel in a number of countries in Europe, Latin America, and Asia. Figure 1 shows the distribution of bank assurance market share.
In a broad sense, bank assurance is the distribution of insurance products to a bank’s client base. However, beyond this definition, bank assurance business models vary widely from country to country
We will analyse bank assurance activity following three dimensions to understand how integrated the banking and insurance activities are under various models.
• Distribution: who sells the life insurance products? How much are branch staffs involved in this activity?
• Products: what types of life insurance products are sold? How closely are they integrated with the banking offer?…
