Academic literature on the topic 'Products of bancassurance'
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Journal articles on the topic "Products of bancassurance"
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Nwora, Nebo Gerald. "The Revised Guidelines on Bancassurance Operation in Nigeria: Marketing Implications on Patronage of Insurance Products." Journal of Public Management Research 4, no. 2 (December 24, 2018): 29. http://dx.doi.org/10.5296/jpmr.v4i2.14102.
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This study seeks to assess the marketing implication of the revised operational guidelines on bancassurance referral model in Nigeria particularly in terms of how the model can affect customers’ patronage of Insurance companies. The objectives of the study include; (i) to determine the influence of bancassurance referral on customers’ patronage of insurance products; (ii) to ascertain how customer loyalty moderate the influence of bancassurance referral on customers’ patronage of insurance products; and (iii) to assess how the perceived service quality of the deposit money banks moderate the influence of bancassurance referral on customers’ patronage of the insurance products. Quantitative survey research design was adopted for the study. By gathering primary data from 170 banks’ customers and 68 bancassurance desk officers of insurance companies using structured questionnaire; and using structural equation modelling for testing and analyzing the gathered datasets, findings revealed that bancassurance referral model has significant influence on customers’ patronage of insurance products and both customer loyalty and perceived service quality of the banks significantly moderate the influence of bancassurance referral model on customers’ patronage of the insurance products. It was recommended that insurance companies that want to go into bancassurance relationship with any bank in Nigeria should choose banks characterized by large number of loyal customers and high perceived service quality.
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Přečková, Lenka. "Evaluation of Bancassurance Functioning in Selected Countries of the Financial Groups Erste Group Bank and UniCredit Group." Financial Assets and Investing 7, no. 2 (July 31, 2016): 19–33. http://dx.doi.org/10.5817/fai2016-2-2.
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This paper will evaluate the current state of cooperation between banks and insurance companies as well as internal integration of bancassurance products in financial groups Erste Group Bank and UniCredit Group. The evaluation is performed as of May 1, 2016. There shall be selected six countries which are part of the region Central and Eastern Europe, namely the Czech Republic, the Slovak Republic, Hungary, Romania, Croatia and Serbia. This paper aims at ascertaining whether or not there are similarities in how bancassurance functions in selected financial groups and countries. This paper shall apply a qualitative research approach. Bancassurance shall be analyzed, compared and evaluated from the viewpoint of integration of financial groups as well as of bancassurance products. A critical analysis of literature available will frame the field of bancassurance models of cooperation and bancassurance functioning. This review will provide a theoretical base for evaluating the level of cooperation between banks and insurance companies and for evaluation an internal integration of bancassurance products. The theoretical base shall be compared with the current bancassurance practice within financial groups and countries. To evaluate bancassurance practice, this paper shall use data available on web sites, financial and annual reports of financial institutions. The qualitative research shall contain a detailed analysis, sorting and comparing of set theoretical bases. Finally, this paper shall ascertain which characteristics are similar and which are different in integration of financial groups and bancassurance products.
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Přečková, Lenka, and Eva Vávrová. "The Level of Integration of Bancassurance Products of Financial Groups Erste Group Bank, UniCredit Group and KBC Group in Selected Countries." Financial Assets and Investing 8, no. 2 (November 30, 2017): 49–60. http://dx.doi.org/10.5817/fai2017-2-4.
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This paper will evaluate the current state of cooperation between banks and insurance companies as well as internal integration of bancassurance products in financial groups Erste Group Bank, UniCredit Group and KBC Group. The evaluation is performed as of September, 2016. There shall be selected ten countries which are located in Central and Eastern Europe: Czech Republic, Slovak Republic, Poland, Hungary, Romania, Bulgaria, Croatia, Bosnia and Hercegovina, Slovenia and Serbia. The aim of this paper is to determine whether or not there is a similarity in integrated financial products belonging to different financial groups in individual countries. This paper will apply a qualitative research approach. A theoretical base for evaluating the level of cooperation between banks and insurance companies and for evaluation of an internal integration of bancassurance products will be set in the paper. The theoretical base is to be compared with the current bancassurance practice within financial groups and countries. To evaluate bancassurance practice, this paper shall use data available on web sites, financial and annual reports of financial institutions. The qualitative research is to contain a detailed analysis, sorting and comparison of set theoretical bases. The financial groups show differentness as far as integration is concerned. The research led to the conclusion that there is a similarity in bancassurance products which are offered in evaluated countries. A dissimilarity was found in the level of integration of bancassurance products.
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Choudhury, Mousumi, and Ranjit Singh. "Customers’ Perception regarding Assurance of Bancassurance Channel." Acta Universitatis Sapientiae, Economics and Business 4, no. 1 (December 1, 2016): 85–102. http://dx.doi.org/10.1515/auseb-2016-0005.
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AbstractBancassurance has evolved as a strong distribution channel in India. Bancassurance means that the insurance company and the bank come together to offer insurance products from the counter of the banks to the bank’s customer. The present study attempts to analyse customers’ perception regarding assurance of bancassurance channel in providing insurance-related services. The study also tries to find out the impact of various demographic variables on customers’ perception regarding assurance of bancassurance channel. The study finds that customers consider bancassurance channel having high assurance in providing insurance services. It is also found in the study that there is no significant association between the demographic variables considered in the study and customers’ perception regarding assurance of bancassurance channel.
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Marzai, Elda. "Bancassurance in a digital era." Proceedings of the International Conference on Business Excellence 12, no. 1 (May 1, 2018): 601–11. http://dx.doi.org/10.2478/picbe-2018-0054.
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Abstract The implementation of bancassurance activity in the banking field contributes to the strengthening of the competitive environment, the development of new products in insurance and the higher satisfaction of the consumer's needs. The strategic priorities of banks are to increase business protection by adding new products to their portfolios, according customer's needs. The distribution of insurance in the bancassurance system is a future solution and will continue to develop on the Romanian market as well. Bancassurance is the main distribution channel in many countries, accounting for more than 50% of life insurance products (eg France, Italy, Spain, Austria), in Portugal the share goes up to 80% and in Romania is around 30%. Among the aspects needed to develop this service, bank representatives propose both the diversification of types of insurance sold through banks, as well as the growth of consumer financial education development and digitalization. This paper aims to highlight different perspectives to relaunch bancassurance activity according to changes from customer behavior and the identification of factors which contributing to the sustainability of bancassurance in digital environment. In addition, will be presented a comparison of the internet penetration rate in the world, the categories of clients using online banking services.
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Joshi, Urmila. "Perception among the Employees of Bank towards the Bancassurance in Nepal." Nepalese Journal of Insurance and Social Security 2, no. 2 (December 31, 2019): 71–80. http://dx.doi.org/10.3126/njiss.v2i2.31830.
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The study aims to explore the perception of employees working in banking industry and investigates the problems and prospects of bancassurance in Nepal. Quantitative data have been collected from 100 employees working in 20 commercial banks using structured questionnaire. Product design, customer awareness, brand name, distribution channel and awareness of retail banks are considered as independent variables whereas present status of bancassurance is taken as dependent variable in the study. Both descriptive and inferential statistical tools have been applied to analyse the data. The result reveals that there is a positive relation between product design and brand name with present status of bancassurance in Nepal. This means that better the products lead to success of Bancassurance. The results also reveal negative relationship between present status of Bancassurance and consumer awareness, awareness of retail banks and distribution channel. The study concludes that product design and brand name are the major factors affecting current bancassurance status whereas consumer awareness, awareness of retail banks and distribution channel do not affect on current status of bancassurance.
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Rao, K. S. Muralidhara. "Promotional mix strategy in banks for bancassurance products." SAARJ Journal on Banking & Insurance Research 6, no. 4 (2017): 5. http://dx.doi.org/10.5958/2319-1422.2017.00012.1.
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Śliwiński, Adam, Joanna Dropia, and Norbert Duczkowski. "Risk Factors Affecting Bancassurance Development in Poland." Risks 9, no. 7 (July 7, 2021): 130. http://dx.doi.org/10.3390/risks9070130.
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The aim of the article is to identify the risk factors affecting bancassurance development in Poland. The development is understood here as a change of gross written premiums obtained through banks in Poland. The group of risk factors selected in a survey conducted among financial sector employees was subject to statistical verification. The analysis used both variables directly related to the insurance product (e.g., a regulatory restriction of insurance acquisition costs) as well as those resulting from the specificity of the bancassurance channel, such as the sales of banking products, i.e., cash loans, housing loans and the value of funds placed by customers on deposits. The study was conducted on the basis of data on the gross premiums written in Poland in the years 2004–2019. The result of the applied model confirms the assumptions and the importance of insurance distribution in banks. Significant risk factors (statistically significant) which determine gross premiums written in the bancassurance channel are: the size of policyholder’s family (number of children, dependants) represented by the average number of people in a household in Poland, demand on mortgage loans represents by bank housing loans for households and agent’s commission, represented by the ratio of acquisition costs to gross written premium. The results of the econometric model obtained are consistent with expectations arising from the principles and practice of cooperation between banks and insurers as well as the specificity of insurance products distribution (also local) in the bancassurance channel.
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Okeahalam, C. Charles. "Does Bancassurance Reduce the Price of Financial Service Products?" Journal of Financial Services Research 33, no. 3 (April 10, 2008): 147–62. http://dx.doi.org/10.1007/s10693-008-0031-x.
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Marzai Abliz, Elda. "The impact of lending on bancassurance activity." Proceedings of the International Conference on Business Excellence 13, no. 1 (May 1, 2019): 171–81. http://dx.doi.org/10.2478/picbe-2019-0016.
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Abstract Due to financial crisis, and especially because of prudence in lending (retail, micro, and corporate), banks are looking for new sources of income, and bancasurance is clearly a potential source of revenue. Thus, in the financial market, the interests of two major components of it are met: banks maximize commission income, and insurers make access to the large customer base of banks. Bancassurance is a distribution channel of insurance products through bank branches, bringing important advantages for banks, insurance companies and customers. The main advantage for the bank is that earns fee amount from the insurance company, the insurance company increases customers data base and market share, the client satisfy his financial needs and requests in the same institution. Considering that in Romania, banks and insurers do not provide information on the number of insurances sold via the bancassurance distribution channel, as well as commissions obtained by banks for the insurance sale, to determine the development of bancassurance in Romania, we used the statistical data provided by the National Bank of Romania, on credit growth and data provided by The Financial Supervision Association, on the evolution of gross written premiums. Bancassurance is one of the most important insurance distribution channels, accounting for approximately 36% of the global insurance market, in 2016, Europe’s insurers generated total premium income of €1 189bn and had €10 112bn invested in the economy. Regarding to the risks of bancassurance business for banks and insurers, they mainly concern distinct capital requirements for the banking and insurance systems, which will be covered by the Basel III and Solvency II directives. This paper aims to analyze the influence of credit on the bancassurance activity in the last 5 years in Romania, the economic, political and legal factors that have a negative impact on the development of bancassurance, and also the calculating the correlation coefficient r (Pearson’s coefficient) and his result.
Dissertations / Theses on the topic "Products of bancassurance"
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Jahodář, David. "Integrační tendence na finančních trzích s důrazem na začlenění pojišťovnictví." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-15500.
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The main objective of this thesis is the analysis of integration processes on financial markets with focus on integration between insurance and banking sector. This thesis examines history of bancassurance, reasons for bancassurance cooperation, partnership models between banks and insurance companies and key factors for succesful realization of bancassurance. Moreover, the thesis analyzes bancassurance segment in the Czech republic and selected countries of the European Union. The end point is dedicated to future of bancassurance.
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Hlúchová, Petra. "Integrační tendence na finančních trzích s důrazem na začlenění pojišťovnictví." Master's thesis, Vysoká škola ekonomická v Praze, 2007. http://www.nusl.cz/ntk/nusl-4964.
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Principal aim of this thesis is the analysis of integration processes of financial markets with emphases on implementation of insurance business incorporation to banking segment. This thesis surveys the history of bancassurance, reasons of reciprocal cooperation between banks and insurance companies, models of settlement for bancassurance companies and conditions for their successful business. Then the thesis analyses a different level of integration trend on the financial markets in the European Union with emphasis on penetration of bancassurance in the Czech Republic. The conclusion considers future of bancassurance segment.
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Novák, Michal. "Pojištění bankovních produktů." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-10421.
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This work deals with the insurance of the banking products, i.e. with the insurance products, which explicitly insure or are closely connected to some banking product. Therefore, an interaction of banking and insurance activities is present in this area of insurance. The overview of both of the financial institutions' activities opens this thesis in order to explain the interaction between the activities of banks and insurance companies. Possible ways of integration of this interaction, which allowed increased efficiency, follow the opening introduction. Bancassurance as a way of selling insurance through banks is explained in a separate part. After a short overview of the banking products, the thesis is completed by the analysis of the key insurances of them.
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CHEN, HUI-FEN, and 陳惠芬. "An Empirical Study on the Consideration of Consumers Choosing Bancassurance to Purchase Life-insurance Products." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/t2g45b.
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碩士亞洲大學
經營管理學系碩士在職專班
107
Sales insurance will no longer rely on the traditional insurance channel under the trend of internationalization of financial institutions and liberalization of supervision. After the “Financial Holding Company Law” was passed in June 2001, the financial industry, insurance industry and securities industry were allowed to cross- operate , and then Taiwan’s bancassurance gradually emerged and its performance grew substantially. The proportion of domestic life insurance companies sell new policies by bancassurance is higher, and the premium income of new business has also surpassed the traditional insurance channel in recent years. However , what affect consumers’ choice of buying insurance products via bancassurance, in this study we gather six variables to be considered ( 1. Brand Image 2. Service Quality, 3. Trust-Based, 4.Product Diversification, 5.Product Customization,6. Professional Competency.), and will discuss which variable is the chief consideration influencing consumers' choice of buying insurance products via bancassurance. The research method adopts the electronic questionnaire distribution method. The responders who have purchased insurance products at the T bank are 20 or over 20 years old. Respondents locat in the north, middle and south counties’ bank branches. We obtained a total of 339 valid questionnaire samples and analyzed by IBM SPSS 21. The total valid questionnaires samples of this study which analyzed by IBM SPSS 21 are 339 , and the empirical results are as follows: (1) As the bank's Brand Image is better than the insurance companies , consumers tend to purchase insurance from the bank. (2) As the bank's Service Quality is better than the insurance companies , consumers tend to purchase insurance from the bank. (3) As the bank's Trust-Based is better than the insurance companies , consumers tend to purchase insurance from the bank. When the bank's executors or managers expand insurance channels, the results of this study will help them to formulate marketing strategies effectively, to create the guidelines of business management, and then to improve the competitiveness of insurance selling in the banks.
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Lin, Yu-Hsiang, and 林裕翔. "The factors that affect customers’purchasing intentions toward bancassurance products-Analyzed by the aspects of involvement and service quality." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/94050844942485221695.
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碩士淡江大學
全球華商經營管理數位學習碩士在職專班
98
In the era of financial institute integration, the idea about “One-stop-shopping”urges financial institutes to integrate the finical products, such as banking, insurance, stock, and trust, all together. In order to provide full-scaled services for their customers, bank and insurance company should enhance their ability to satisfy the need of customer. In 2009, more than 60％ of life-insurance premium that insurance company collected is through banking system. Therefore, knowing the factors that affect customers’purchasing intentions toward bancassurance products is very important, so that banker can construct frame the future marketing strategy and business guideline. The purpose of the study is conferring the relationship among the customers’involvement, service quality in bancassurance, and ever been buy bancassurance with purchasing intentions. The result is based on 240 questionaries that answered by persons who ever have an account in bank. The results are as follows: （1）There would be a significant positive effect for customers’demand of bancassurance service quality to customers’involvement . And the depth of involvement in the insurance products by customer is significantly positive. The more specialties the banker agent acquired, the more acknowledge the customer involved. Also, the more aggressive the banker agent participated, the more problems solved. （2）There would be a significant positive relationship effect customers’involvement about bancassurance products to customers’purchasing intentions toward bancassurance products. Profound researching and sufficient planning in the preferable insurance program to satisfy the need of customers is highly recommended. Not only promoting the customers’ involvement, but also encouraging the customers purchasing intentions toward bancassurance products. （3）There would be a significant positive effect for customers’demand of bancassurance service quality to customers’purchasing intentions. However the involvement can not be an intermediary factor. The customers’demand of bancassurance service quality would directly influence the intention of purching. Therefore, in order to increase customers’purchasing intentions toward bancassurance products, the bankers should upgrade service qualities. （4）There would be a significant positive influence for customers’who have experience of buying bancassurance products to customers’purchasing intentions. To increase the customers’purchasing intentions toward bancassurance products, banker should design superior marketing plan to hold the loyalty of customers.
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Lee, Tung-Chun, and 李東駿. "Exploring Factors Affecting Incentives to Sell Insurance Products at Bancassurance Channel-The Case Study of T Insurance Company." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/5a88y7.
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碩士國立臺灣師範大學
高階經理人企業管理碩士在職專班(EMBA)
105
In recent years, bancassurance has become the major channel for consumers to purchase insurances. The objective of this paper is to investigate the factors which affect the incentives of persons who conduct wealth management business to sell the insurances of the T Insurance Company through questionnaires. Moreover, this study examines the impacts of bad news of the T Insurance Company, the extra bonus for persons conducting wealth management business, and the policy to stop selling a specific product on the incentives of wealth management persons to sell insurances of the case company. The empirical results indicate that the policy of firms which wealth management persons work for, the reputation of the insurance company, the insurance demand of customers, and the risk tolerance of customers affect the incentives of wealth management persons to sell insurances of the case company. This study also finds that when the media reports bad news of the case company, the incentives of persons in securities companies to sell insurances of the case company declines more than those of persons who work in state-owned banks and private banks. This study also finds that extra bonus plan can motivate persons who conduct wealth management business to sell more insurances of the case company. Furthermore, the policy to stop selling a specific product encourages wealth management persons to sell more insurances of the case company.
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Yen, Cheng-ching, and 顏成青. "Bancassurance’s promote discussed in response to an aging insurance products." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/61340571020401056278.
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碩士國立中央大學
財務金融學系在職專班
101
According to the statistic number of Ministry of interior, Taiwan has become an Aging Society since 1993. The portion of elderly was 7.1% relative to the total population. At the end of 2012, the number of elderly has risen to 2,600,152, which is it’sequal to 10.89% of the total population. To respond to this trend, tThe Life Insurance association proposeds the idea that people shall plan of planning yourtheir retirement life earlier. And that’s the time that the insurance products for elderly comes up. Banks’ total revenue ofbased on insurance costpremium in 2012 was about 6,238.37 hundred millions; it was 55.44% of total insurance costspremium selling in that year. This paper intends to discuss the determinants of sale recognition of bank’s insurance distributor about the sales of Ccommercial annuity insurance and long-term care insurance products in bank insurance , and the challenge in practicinge. Through the questionnaire and depth interview, we understand the importance of bank’s insurance seller recognition to aging insurance product. But the results shows that the first driver in enhanceing the customer’s purchase intention is” high return”, and the second one is” simple description of product”; on the other hands, for the sellers, the divers to sell the product isare ” high fee” and “bonus”. The product policy of insurance companies has the same strategies.
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Yang, Tzu-Sheng, and 楊子昇. "LIFE INSURANCE COMPANY IN RESPONSE TO THE AGING PROMOTE BANCASSURANCE PRODUCT DISCUSSION." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/83204835703751574490.
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碩士元智大學
管理碩士在職專班
104
According to the statistics from Ministry of the Interior shows that Taiwan has already entered into the "aging society" since 1993. In view of the demographic structure of the low birth rate and aging trend, disability rising population, the role transformation and dilemma of family caregivers, lead to family care the function gradually decline. Plus, the way of living for elderly and form of families changes also lead to imbalance of demand & supply being take care of.Therefore, the government and the civil society begin awareness of aging crisis trend, and the importance of retirement planning, which leading to massive aging insurance products came into the market. This study was inked at the "Life insurance company in response to the aging promote bancassurance product discussion". This research is targeting on the executives, financial directors, management professionals in the bank," as well as the executives and insurance consultants in the life insurance company. By using depth-Interview research methods, deeply understand the bank insurance sales person about recognition and promotion of "commercial annuity" and "long-term care " two types of insurance product sales, as well as deeply understanding the promotion strategy of life insurance company in response to the aging bancassurance products. At last, it provides few specific recommendations to the life insurance company for future "aging Insurance merchandise" planning reference. It will be positively promote and enhance insurance penetration. It not only can increase the operating efficiency (Gung Ho) of life insurance companies and banks, creating a win-win situation, but also reduces possible government expenditure on social welfare, and financial burden on individual families.
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Kuo, Jiin-song, and 郭錦松. "The Status of Taiwan and the China Region of Bancassurance Product and Future Prospects." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/97294729245262878789.
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碩士朝陽科技大學
保險金融管理系
104
In recent years, the bancassurance channel has become flourished, making a great contribution to the development of the banking industry and insurance industry. Since the huge fluctuation in financial markets and the low interest rates, saving deposited commodities have gradually replaced bank deposit and became a popular financial management method. Thus the saving deposited commodities is increasingly regarded as major commodities for the bancassurance to attract customers. A continuous observation on the future development of bank insurance products remains necessary. This research would discuss about the current situations and prospects of the bancassurance commodities in both sides of Taiwan Straits, for the references of marketing operations in the baking industry and insurance industry. The four purposes of this research are summarized as follows: First, offer references of financial information in both sides of Taiwan Straits, implement reform and innovation on bancassurance commodities, and improve the sales performance. Second, inspect the current situations of bancassurance commodities in both sides of Taiwan Straits. After the analysis on the advantages and disadvantages, we would put forward suggestions to correct the unfitting product, and offer references of further improvement for the insurance industry. Third, organize and analyze bancassurance information in both sides of Taiwan Straits. The information would be taken as research references for people concerned with relevant issues, or for a deeper discussion in the future. Take the status of development of cross-regional bancassurance market, through literature review, analysis of practical problems in the current market; propose areas for cross-strait banking and insurance advice: 1. Banking advice: Goods Insurance of annuity insurance, security - Insurance commodity-based, 2. Recommended that the insurance industry: the insurance company as a designer product, it should according to the actual needs of banking and insurance customers to design specific insurance products to financial products different from the other bank, to resolve the conflict of product sales and homogenization, increase customer bank insurance product recognition. 3. Comprehensive proposal: (1) Fine - plus additional service quality and not increase the amount of (2) The Almighty - Full Service (3) Digital technology - accelerated transfer contact. Keywords: bancassurance; insurance commodities
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CHENG, YU-CHING, and 程玉菁. "Analyzing the Critical Factors of Product Selection for Bancassurance from the Viewpoint of Bank Channel." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/10400794915621264171.
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碩士東吳大學
企業管理學系
104
In the recent years, the proportion of the insurance sales in banks increased year by year, which changed insurance sales models. Most of the target customers from the insurance are the existing customers of the banks. The customers are willing to buy the products based on their trust in the banks or experience, so normally the banks and the insurance companies keep close relationships. The banks play an important role to the selection of the insurance products; therefore, the management teams of the banks and insurance companies need to do the necessary analytics for the selection of the insurance products. Based on the literature, and with the analyzing of product selection for banassurance. There are have 3 dimensions and of 14 evaluation indicators that influence the insurance product selection Lots evaluation. Questionnaire is designed and experts in Bank and insurance manager are surveyed. Then, the AHP method is applied in order to get the weight in evaluation indicators. Finally, find the rank of importance of dimensions, and to establish an objective services evaluation for insurance product selection model. The results show that the rank of importance of dimensions is as follows：” consumer demand”,” Preferences Channel Sales” and,” Company competitiveness”. The rank of top five most important evaluation indicators is as follows：” Products meeting the customer life planning”, “product commission”,” insurance companies credit ”,” Insurance companies trust”, and ” Insurance companies to work in coordination”. The results will provide the insurance product selection model. Keywords：Bank Channel, Insurance Products, Product Selection, Analytic Hierarchy Process (AHP), consumer demand
Book chapters on the topic "Products of bancassurance"
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Starita, Maria Grazia. "Bancassurance Products." In Bancassurance in Europe, 26–52. London: Palgrave Macmillan UK, 2012. http://dx.doi.org/10.1057/9780230358287_3.
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Noussia, Kyriaki. "The IDD and Its Impact on the Life Insurance Industry." In AIDA Europe Research Series on Insurance Law and Regulation, 75–112. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-52738-9_4.
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AbstractThe life insurance sector not only pertains to a variety of distributors, such as for example, ‘bancassurance’ entities combining investments services, investment and insurance products, but also to the large portion of unit-linked/investment based life insurance products. Major legal changes introduced by Directive (EU) 2016/97 (“IDD”) will therefore need to be carefully considered and anticipated by the life insurance industry, including specific professional and organizational requirements, specific information standards for insurance-based investment products, which will include the provision of appropriate information and requirements for advice to be suitable, restrictions on remuneration, and special requirements relating to the advice to be provided to the customer by any distributor related to costs and charges or to the distribution of the product—including the cost of advice. The international character of the Life Insurance has an important impact on the work to the implementation of IDD which aims at a so-called minimum harmonization. No doubt that the implementation may appear wide and burdensome, but it is a unique opportunity for all entities involved to achieve a good balance of liabilities between the professionals involved, review risk management options and look for sustainable business alternatives. This chapter examines the impact of IDD on life insurance and addresses the harmonization impact and effect of the IDD in the insurance industry.
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Verhoef, Grietjie. "Managing change: diversification and transformation, 1993–2003." In The Power of Your Life, 211–68. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198817758.003.0005.
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As global insurance markets experienced a shift out of life assurance into new wealth products, Sanlam faced the same trend. Demutualization required more free capital than commanded by Sanlam, leading to an extended capital building programme, which ultimately fed into demutualization. Sanlam focused business operations on restructured business units, new distribution channels, and non-traditional markets. Serious attempts at bancassurance absorbed attention under severe market competition. Internationalization strategies failed to deliver to expectations. After listing in 1998, operational, management, and functional transformation occurred in a new South Africa. Statutory sanctioned empowerment policies chartered future company strategies. Implementation was delayed by the death of the CEO and an inexperienced successor. The company remained hamstrung by too-large exposures to a handful of big investments.