Publication: Bancassurance : A Valuable Tool for Developing Insurance in Emerging Markets
Date
2012-09
ISSN
Published
2012-09
Author(s)
Gonulal, Serap O.
Goulder, Nick
Lester, Rodney
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.
Citation
“Gonulal, Serap O.; Goulder, Nick; Lester, Rodney. 2012. Bancassurance : A Valuable Tool for Developing Insurance in Emerging Markets. Policy Research Working Paper; No. 6196. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/12037 License: CC BY 3.0 IGO.”
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