Bancassurance -- a Valuable Tool for Developing Insurance in Emerging Markets

69 Pages Posted: 20 Apr 2016

See all articles by Serap O. Gonulal

Serap O. Gonulal

affiliation not provided to SSRN

Nick Goulder

affiliation not provided to SSRN

Rodney R. Lester

World Bank

Date Written: September 1, 2012

Abstract

Bancassurance is the process of using a bank's customer relationships to sell life and non-life insurance products. In some developed countries it has had a dramatic impact on developing sales volumes, attaining market shares in excess of 50 percent in life and more than 10 percent in non-life. By contrast, in other developed countries it has had much lower impact. Its strategic benefits to developing countries are wide ranging. This paper discusses the potential of Bancassurance to contribute to the growth and the stability that both life and non-life insurance products can bring to developing countries. The details of how some approaches work better than others, and how regulation and consumer protection issues can impact such development, are reviewed here, together with a discussion of regulatory policy issues and recommendations for best practice. The paper provides a detailed study of the operation of Bancassurance in a major developed market (France). This is contrasted with a further study in a developing market (Mexico). A short summary draws together the key implications for developing countries.

Keywords: Banks & Banking Reform, Debt Markets, Emerging Markets, Insurance Law, Insurance & Risk Mitigation

Suggested Citation

Gonulal, Serap O. and Goulder, Nick and Lester, Rodney R., Bancassurance -- a Valuable Tool for Developing Insurance in Emerging Markets (September 1, 2012). World Bank Policy Research Working Paper No. 6196. Available at SSRN: https://ssrn.com/abstract=2145754

Serap O. Gonulal (Contact Author)

affiliation not provided to SSRN

No Address Available

Nick Goulder

affiliation not provided to SSRN

No Address Available

Rodney R. Lester

World Bank ( email )

1818 H Street, N.W.
Washington, DC 20433
United States

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
565
Abstract Views
2,048
rank
51,343
PlumX Metrics