BANCASSURANCE CONCEPT FROM THE PERSPECTIVE OF MONTENEGRIN MARKET

Milijana Novovic Buric (), Vladimir Kascelan () and Sasa Vujosevic ()
Additional contact information
Milijana Novovic Buric: University of Montenegro, Faculty of Economics Podgorica
Vladimir Kascelan: University of Montenegro, Faculty of Economics Podgorica
Sasa Vujosevic: University of Montenegro, Faculty of Economics Podgorica

Economic Review: Journal of Economics and Business, 2015, vol. 13, issue 2, 62-73

Abstract: Integrated services of financial institutions contribute to the quality and development of financial markets. The collaboration of banks and insurance companies through the bancassurance model, as the distribution channel of insurance products, results in reduction of business risk and costs of market research and achieves better profitability and other mutual l benefits which have a positive effect on the performance of the insurance and financial markets. More specifically, the effective implementation of bancassurance provides benefits to banks, insurance companies, and to their customers. Although bancassurance has development perspective on the Montenegrin market, the paper will prove that adequate education and motivation of employees in the banking sector, as well as the adequate demand for this type of financial services, are necessary for its successful implementation. The purpose of this paper is to show the current trend of banks entering the insurance market in Montenegro and to point out the perspective and development problems of bancassurance in Montenegro.

Keywords: financial services; banks; insurance sales channels; bancassurance; insurance market (search for similar items in EconPapers)
JEL-codes: G22 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.ef.untz.ba/images/Casopis/Novembar2015/5article.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:tuz:journl:v:13:y:2015:i:2:p:62-73

Access Statistics for this article

Economic Review: Journal of Economics and Business is currently edited by Zijad Dzafic

More articles in Economic Review: Journal of Economics and Business from University of Tuzla, Faculty of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Senad Celikovic ().