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1
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 (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 (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 (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 (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 (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 (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 (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 (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 (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.
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Mamchur, R., and О. Nazarenko. "Bancassurance as a form of effective cooperation between banks and insurance companies." Bioeconomics and Agrarian Business 11, no. 2 (2020): 58–65. http://dx.doi.org/10.31548/bioeconomy2020.02.058.
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At the present stage of financial market development, the needs of individual clients are constantly growing. Competition in the market of traditional services between banks, as well as between banks and non-banking institutions is intensifying. With this in mind, banks must constantly work to diversify their sources of income, develop new services for the banking system; as a result, there are products of cooperation such as bancassurance. However, the level of their development is quite low, which requires appropriate research and generalization of their results in order to develop appropriate recommendations to improve the efficiency and further development of this type of cooperation. The leader in the provision of parabanking services in Ukraine is the insurance market, but its level of development is much lower than in foreign countries. The combination of banking and insurance services is one way to maintain and even increase the number of customers and assets. The interaction of banks and insurance companies can take various forms, including bank insurance and the provision of banking services to insurance companies – placement of funds, settlement services and others. The article examines the emergence of the concept of bancassurance, as a relatively new type of interaction between banks and insurance companies. The formation of such cooperation in Ukraine took place during three main stages. The main advantages of bancassurance singled out separately for insurance companies, for banks and for the clients themselves – consumers of financial services. An analysis made in terms of five banks in the Ukrainian financial market, and the most relevant insurance products they offer and with which companies work closely selected. The study found that in the insurance market of Ukraine, the dynamics of net insurance premiums and payments tends to increase. Insurance companies through the sale of services in banking institutions receive about a third of income. For the purpose of generalization, a SWOT analysis of bancassurance presented, with a clear identification of advantages, disadvantages and opportunities for further development in the Ukrainian financial market. It is determined that bancassurance has many advantages and potential opportunities for further improvement and expansion within Ukraine, while the shortcomings and threats are based on the existing shortcomings of the domestic financial market.
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SP, Bhavana Gowda, and Rashmi R. "An Analysis of Effectiveness of Bancassurance among Customers as an Alternative Distribution Channel in Bangalore." Indian Journal of Finance and Banking 3, no. 2 (2019): 27–31. http://dx.doi.org/10.46281/ijfb.v3i2.397.
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In this study we had conducted a survey among Customers of Bank in order to know whether they are aware of the concept of Bancassurance and exploring the reasons why customer would like to buy insurance products from banks. Customer attitude to two different distribution channels was calculated by getting the mean of 24 statements on Likert scale. 74% of the sample was aware of the fact that their banks sell insurance products. It was reported that the reference (56%) and bank employees (54%) are the two main information sources for these customers. The respondents emphasized Trust, convenience in terms of location as the main reasons for buying the insurance products from banks instead of Insurance agents and after analyzing 24 statements administered among target sample population we can conclude: Customers feel that insurance agents have more expertise in insurance products than bank employees and can give better advice. It was also found that banks employees give them all the information needed than insurance agents and customers trust bank more than insurance company for all their financial requirements. Therefore, banks in India should try to exploit the existing opportunities to cross-sell insurance products through their branch network.
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Zharikova, Оlena, and Kateryna Cherkesenko. "Integration of banks and insurance companies activities in Ukraine." Journal of Scientific Papers "Social development and Security" 11, no. 2 (2021): 42–57. http://dx.doi.org/10.33445/sds.2021.11.2.5.
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The article reveals the essence of modern bancassurance and new challenges and prospects for its development in Ukraine. The definition of “bancassurance” is theoretically substantiated and the general financial and economic characteristics of Ukrainian banks is given. The normative indicators of commercial institutions are analyzed along with the main risks affecting banking and insurance activities, the possibility of their leveling are determined. The study provides theoretical and practical information on the process of banks capital of and insurance companies merging, financial and economic analysis of JSC PrivatBank – one of the largest banks in modern Ukraine, and the assessment of the financial stability of its insurance partners. The insurance Ukrainian market study concerning the detection of possible prospects for cooperation with the studied bank was done. The calculations suggest that PrivatBank can cooperate with the leading insurance companies, such as AXA Insurance and Providna recommended as new partners. It is established that bancassurance technologies have a significant place at the current stage of development of the domestic financial market. Using a large customer base and a wide network of branches and outlets, banking experts expect that revenues from the sale of insurance products in 2021 may amount to 15% of total bank revenues, as the volume of bank insurance in JSC CB PrivatBank is growing quite rapidly. The activity of banks in market conditions is subject to its general laws, and therefore requires the development of a viable mechanism for managing financial activities, aimed at increasing the competitiveness of banks. Thus, the ability of bank managers to determine the degree of financial stability of their bank as well as that of the competing banks and counterparties is essential in making decisions. Therefore, the search for ways to optimize the financial condition of the bank is one of the principles of further rapid development of the banking system in Ukraine.
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Alihodžić, Almir. "Possibility of implementation and advantages of bancassurance: Bank market and insurance records in Bosnia and Herzegovina." Bankarstvo 50, no. 1 (2021): 10–26. http://dx.doi.org/10.5937/bankarstvo2101010a.
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Bancassurance is a term used to describe a partnership or relationship between a bank and an insurance company, where the insurance company uses a banking sales channel to sell insurance products. The implementation of banking insurance activities in the financial system contributes to the strengthening of the competitive environment, the development of new insurance products, and greater satisfaction of customer needs. The main goal of this research is to point out the importance and significance of the application of bank insurance for both financial institutions, through the analysis of financial performance indicators of both banks and insurance companies, through the aspect of income and expenses. Also, this research presents an econometric analysis that tests the impact of other income, profit/loss growth rate, as well as the cost-income ratio as independent variables and their impact on the dependent variable, i.e., return on assets of banks in Bosnia and Herzegovina. The results of the econometric analysis showed that other revenues have the greatest impact on the profitability of banks in B&H. The weakest impact on bank profitability has a cost-to-earnings ratio.
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Saha, Shyamasree, and Anirban Dutta. "Factors Influencing Service Quality Perception in Indian Life Insurance Sector." Global Business Review 20, no. 4 (2019): 1010–25. http://dx.doi.org/10.1177/0972150919845222.
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The Indian insurance industry has gone through major transformations over the past two decades and life insurance sector has been no exception to it. With the introduction of privatization and the increase in number of insurance providers, the competition has risen unprecedentedly. To survive this immense competition, the companies have come up with numerous products and solutions to lure the customers. Other factors like increased coverage of lives/property, diverse customer-friendly products and rapid growth of multiple channels, like agency, bancassurance, etc., are gradually gaining momentum to intensify the level of competitiveness in the market. But unfortunately, this has somehow compromised the quality of service that is being delivered to the customers, and no attempt has been made to measure and ensure the service quality of this industry. This research aims to identify the determinant factors that contribute a substantial role in sculpting customers’ perception of service quality in Indian life insurance sector. Six factors were identified after the whole data mining process (using factor analysis) which were considered to be as the ‘Factors Influencing of Service Quality Perception in Indian Life Insurance Sector’.
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Latorre Guillem, Miguel Angel. "The Customer Orientation Service of Spanish Brokers in the Insurance Industry: The Advisory Service of the Insurance Distribution Channel Bancassurance." Sustainability 12, no. 7 (2020): 2970. http://dx.doi.org/10.3390/su12072970.
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This research focuses on the customer orientation of insurance brokers, whose activity is regulated by the Law on the mediation of private insurances and reinsurances. The goal is to ascertain whether the intermediation inherent in the insurance broker’s activity, which implies a customer-oriented service, entails a positive behaviour that transcends the immediate environment, reaching society. This study presents a comparative analysis between the insurance brokerage society, characterised by a personalised customer service, and banks’ advisory services on insurance. To this end, the study uses a sample of insurance brokerage firms in Spain. The results presented in this study suggest that the customer values the advisory service provided by the broker. However, for a particular business segment in standardized insurance products and products related to banking assets, customers are more likely to resort to the bank’s services. In addition, the results indicate that the commission percentages applied by the entities operating in the banking insurance channel exceed those perceived by the insurance broker. With all this, intermediation in the development of the insurer’s activity can entail social behaviour that involves customer-orientation and, possibly, social service and environmental performance.
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Mamchur, R., and Y. Tkachenko. "Analysis of integration processes of banking institutions and insurance companies in Ukraine." Bioeconomics and Agrarian Business 11, no. 3 (2021): 69–76. http://dx.doi.org/10.31548/bioeconomy2020.03.069.
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The processes of globalization, technology improvement and increasing competition put banks and insurance companies in need of increasing and changing the range of their services. The requirement to increase the level of profitability of their own activities stimulates the integration processes of banks and insurance companies and is one of the options to increase the supply of financial assets and increase demand for them. Was determined that when considering the integration processes between banks and insurance companies, it is important to study such areas of cooperation as the joint formation and use of financial resources, the creation of joint financial products and the conduct of joint marketing policy. During the analysis was proved, that bank deposits occupy the largest share among all other financial instruments and, as a result, provide insurers with the largest share of financial income, and investing in the capital of insurance companies remains a priority source of credit and investment resources for banks. The article proves that in Ukraine the most promising in the functioning of banks and insurance companies is a form of cooperation such as banсassurance, as the population has a greater demand for banking products and trusts more banks than insurance companies do. This concept of cooperation will lead to a synergistic effect, i.e. the demand for the purchase of one product (banking) will facilitate the purchase of another (insurance), which is the main purpose of bancassurance. The study identified the main benefits of cooperation between banks and insurance companies, including increased service because of a combination of banking and insurance products, providing non-traditional banking services, creating sources of additional income, reducing the cost of certain insurance services.
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Suharto, S., and F. Ligery. "THE INFLUENCE OF BANCASSURANCE PRODUCTS AND RESPONSIVENESS TO CONSUMER BEHAVIOR AND CORPORATE IMAGE AS MEDIATION VARIABLES: A STUDY AT BANK METRO MADANI, METRO CITY." Russian Journal of Agricultural and Socio-Economic Sciences 73, no. 1 (2018): 47–57. http://dx.doi.org/10.18551/rjoas.2018-01.07.
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Krishnamurthy, S., S. V. Mony, Nani Jhaveri, et al. "Insurance Industry in India: Structure, Performance, and Future Challenges." Vikalpa: The Journal for Decision Makers 30, no. 3 (2005): 93–120. http://dx.doi.org/10.1177/0256090920050308.
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With the liberalization and entry of private companies in insurance, the Indian insurance sector has started showing signs of significant change. Within a short span of time, private insurance has acquired 13 per cent of the life insurance market and 14 per cent of non-life market. However, there is still a huge untapped demand for insurance. Insurance companies have a pivotal role in offering insurance products which meet the requirements of the people and, at the same time, are affordable. Some of the challenges faced by the insurance sector pertain to the demand conditions, competition in the sector, product innovations, delivery and distribution systems, use of technology, and regulation. To understand the growth and development and the future prospects of this sector, this colloquium addresses the following issues: What will be the demand for insurance? What types of innovative strategies of insurance education and awareness will we require to encourage the Indian consumers? With the changes following bank participation in insurance, will the nature of competition in this sector intensify? What kind of competitive and risk pressures will the insurance businesses experience? What are their implications for profitability, margins, and efficiency? The average size of the polices will continuously decline as the insurance companies increase the geographic coverage. As a result of this, the intermediation costs will go up. What are the implications of these on average costs? What will be the product market scenario? Has the insurance sector benefited from the knowledge base of global companies? To what extent have the technology gains in telecommunications, computer information, and data processing contributed to increased efficiency and productivity of insurance companies? The following key points emerged from the responses of the panelists: The future in life insurance will be determined by the increase in pure protection products, a refreshing look at unit-linked plans, launch of customized plans, and improved service levels. The insurance sector will grow steadily rather than rapidly. While the law and regulations are in place to ensure financial strength and solvency of insurers, the regulator's challenge lies in monitoring compliance. The opportunity for financial services is increasing all over the world. Big domestic companies with significant market shares in the local countries will have the opportunities to commence business in other markets. Keeping in mind the complexities of the industry, multi-product, multi-channel, and multisegment route needs to be followed for growth. The challenge of successfully implementing bancassurance lies in training the staff, integrating the insurance products, and ensuring best quality service. Agents in the insurance sector are critical for its success and, in order to gain competitive advantage, quality people are needed but attracting and retaining agents is a challenge.
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"Awareness & Preferences of Bancassurance in India." International Journal of Recent Technology and Engineering 8, no. 4 (2019): 4469–74. http://dx.doi.org/10.35940/ijrte.d8404.118419.
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Bancassurance offers insurance products through financial institutions that square the representatives for customers that has numerous sorts supported the sociology, economic and legislative environment of the country wherever sociology climate shows the sort of insurance products, the economic climate will illustrate the trend leads to High earnings, market share, etc., and legislative climate can decide the boundary at intervals that bancassurance should operate. Awareness about our financial products in india is very low and compare to our financial inclusion percentage is very low with comparing to other countries. Bancassurance is service offering by banks and insurance service providers jointly and if the customers are not having the awareness it’s not possible to offer more services to the customers. This Paper focus on the level of consumers Awareness on Bancassurance and what factors are influencing to purchase the insurance product through Bancassurance Service. And analyze their responses through statistical tools and offering the suggestions which are boosting the bancassurance services in India.
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Vojvodić-Miljković, Nevenka. "THE EFFECT OF MEDIA REPRESENTATION ON THE DEVELOPMENT OF BANCASSURANCE IN THE REPUBLIC OF SERBIA." Facta Universitatis, Series: Economics and Organization, May 19, 2017, 043. http://dx.doi.org/10.22190/fueo1701043v.
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The intense competition among banks, in terms of narrowing the interest margins, has led to an increase in administrative and marketing expenses and has limited the profit margins of traditional banking products. At the same time, there has been a change in the preferences of bank clients in terms of reduced interest in investing in the classic banking products of the deposits-saving character and an increasing interest in investing in various forms of life and voluntary pension insurance. Accordingly, as well as with a number of other developments in the market for financial services in the last two decades, a connection between banks and insurance companies has been formed. This process is known as bancassurance. Bancassurance in its simplest form represents the distribution of insurance products through the branch network of banks as a sales channel. For banks this is a way to increase customer loyalty, the diversity of offers and the source of additional income in the form of a reimbursement paid by the insurer. In bancassurance, insurance companies see a relatively inexpensive sales channel of insurance compared to traditional channels, which allows them better market positioning and easier access to a higher quantity of clients. The largest success that bancassurance has had, is with the sale of life insurance, keeping in mind the similarity with the traditional deposit banking products. Past results of the implementation of bancassurance in the Republic of Serbia are insignificant in comparison to the value achieved on this basis in most EU countries. Apart from the objective factors, such results are caused by the lack of information among the population about the possibilities of purchasing different types of financial services in one place (in a bank) and numerous benefits which such integrated purchasing offers. The success of bancassurance largely depends on the determination of the participants (banks and insurance companies) to present the sales channel through the joint appearance on the market, continuous advertisement in the media, especially those who have access to the widest part of the population. For that reason, special emphasis is given to the influence of media representation for the faster development of bancassurance, which would result in greater awareness and education of the population on that basis, which can later cause an increase in life and non-life insurance sales, given the size of the client basis and sales capacities of Serbian commercial banks.
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"Bancassurance – A Panacea for Increased Sales: Insurance Companies Perspective." International Journal of Recent Technology and Engineering 8, no. 2 (2019): 2787–90. http://dx.doi.org/10.35940/ijrte.b2753.078219.
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Banking industry has grown quickly all over the world, at the same time insurance industry has also grown rapidly in the same cut throat economic environment. With the entry into non core products or services like insurance and securities markets, these days banks have increased their businesses. The integration of financial markets, emergence of new technologies and expansion of non-banking activities has a great impact on baking operations. Thus it results in opening doors for the business of non core products like insurance and securities (bancassurance) by banks. The only intention behind this diversification of business by the banks is to provide ample investment alternatives to the common people who do not have access to various financial products and securities so that they can maximize the returns on their investment. The increasing popularity of bancassurance has widened the scope of research in this area. In this study an attempt is made to know the impact of bancassurance on customers while they made decisions to purchase the insurance policies.
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Pielichaty, Edward. "Zasady rozliczania przychodów z tytułu oferowania produktów ubezpieczeniowych w bankach." Central European Review of Economics and Management 1, no. 3 (2017). http://dx.doi.org/10.29015/cerem.299.
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Aim: The paper follows up and builds on the author’s considerations pertaining to the market of bancassurance products and the accounting treatment for remuneration banks receive for offering this kind of products. The article aims at presenting the new rules of accounting for and recognition of insurance commission in the bank accounting books, as they have been recommended by the Polish Supervision Authority (PSA) since 2013, and the assessment of impact of those new rules on the bank financial results. Design / research method: This paper seeks to verify the hypothesis stating that the bank’s financial performance may deteriorate significantly after the implementation of the new accounting rules for commission received for selling insurance products, recommended by the Polish Supervision Authority in 2013. The study was conducted on the basis of the reports of the Polish Chamber of Insurance, using the comparative analysis method. Moreover, the paper employs a critical analysis of academic literature and the PSA recommendation (guidelines) for bancassurance. Conclusion/findings: The studies have confirmed the assumption made as to the financial performance of the banks in Poland offering bancassurance-type products over the early years of the PSA’s new recommendation being in force. Originality /value of the paper: The set of issues this paper is dedicated to is very much up-to-date in Poland. In 2013, the new “U” recommendation of the PSA was implemented in banks, specifying, among other things, the rules for the recognition of revenue from offering insurance products. Implications of the research (if applicable): The paper shows the practical implications of the implementation of the new accounting rules for insurance commission for the valuation of credit portfolios in the banks linked to insurance products. It represents a valuable source for bankers dealing with the issues of recognition of insurance commissions in the bank accounting books. Limitations of the research (if applicable): The paper may inspire others to conduct further research on the methods of valuation of bancassurance-type products.
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Putera, Andika Persada. "KARAKTERISTIK KEAGENAN BANK." Yuridika 29, no. 3 (2014). http://dx.doi.org/10.20473/ydk.v29i3.371.
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Rapid development of the national economy and banking external environment, such as non-bank financial institutions, capital markets, securities companies, insurance as well as the needs of the people, are causing the services and banking products also developed and varied. Banking activities not only engage in activities that are primary (core business), but also non-core business such as agency activities as Mutual Fund Sales Agent (APERD) and bancassurance. The implementation of bank agency, when the transaction is done and the position of non-bank products principals is represented by the bank as a sales agent, the principal responsibility for third-party funds invested in investment products belongs to the principal. However, all forms of relations and communications between the principal with a third party at a bank as an agent or intermediary for both parties.Keywords: bank, bank agency, investment.
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Desturi, SH, Desi. "Corporate Responsibility in Corruption Crimes at PT. Asuransi Jiwasraya (Government Company) (Analysis of Sentence Number 30/Pid.Sus/Tpk/ 2020/PN.Jkt.Pst)." International Journal of Social Science and Human Research 04, no. 06 (2021). http://dx.doi.org/10.47191/ijsshr/v4-i6-21.
Full textAbstract:
A corporation is an entity or legal subject whose existence makes a major contribution in increasing economic growth and national development, but in reality, corporations sometimes also commit various criminal acts (corporate crimes) that have a detrimental impact on the state and society. A corporation can be considered to have committed a crime based on the actions of a person who controls the management of the corporation. PT. Asuransi Jiwasraya (Company) as a state-owned company in recent years has been in the spotlight. PT. Asuransi Jiwasraya (Government company) is unable to fulfill its customer's maturity policy obligations of around Rp 12.4 trillion. The default of PT. Asuransi Jiwasraya (Government company) actually occurred in one of its flagship products, the JS Saving plan. JS Saving plan is a life insurance product as well as an investment offered through banking or bancassurance. In contrast to unit-linked insurance products where the investment risk is borne by the policyholder, the JS Saving plan is a non-unit-linked investment whose risks are fully borne by the insurance company. The purpose of this study was to determine the implementation of corporate responsibility in the case of PT. Asuransi Jiwasraya (Government company) and to determine the optimization of corporate responsibility for the perpetrators of corruption at PT. Asuransi Jiwasraya (Government company) in returning losses to the state and customers (the public). The type of research used in writing this thesis is a normative legal research type. The results obtained are that in the corruption case that occurred at PT. Asuransi Jiwasraya (Government company) there were several perpetrators who were charged, one of which was Heru Hidayat who is the main commissioner of PT Trada Alam Minera who also manages and controls corporations involved in criminal acts. Corruption Deviations in Financial Management and Investment Funds by PT. Asuransi Jiwasraya (Government company). Heru Hidayat as one of the main actors in the corruption case has now been sentenced to life imprisonment plus a replacement money of Rp 10.73 trillion. Meanwhile, the corporations that have been accused are 13 Investment Manager Companies which have been transferred to the Corruption Court at the Central Jakarta District Court and are currently in the trial process.