EconPapers    
Economics at your fingertips  
 

Bancassurance Products

Maria Grazia Starita

Chapter 2 in Bancassurance in Europe, 2012, pp 26-52 from Palgrave Macmillan

Abstract: Abstract The aim of this chapter is to analyze the main features of bancassurance products and their evolution over time. Generally, bancassurer products have a low insurance content if they belong to the life business, or a high degree of standardization, if they belong to the non-life business. These characteristics derive from the skills and knowledge of the banks which approach the insurance business. In fact, the bancassurance products were initially born as banking-related products and bank branches have gradually become one of the most important distribution channels of insurance policies. Bancassurers are able to combine the information about the financial behaviour of their clients with their insurance needs. In the first step of the bancassurance development process, bancassurers focused on life products because of their high saving content and because of the many similarities and complementaries these had with the asset management activity. The share of the written premium addressed to cover the mortality/longevity risk was equal to zero or limited to a small amount and the claim management process was quite simple. In the second step of the development process, bancassurers have also approached the non-life business with some standardized products or with the help of reinsurers. The variables of customization of non-life products are few (above all, the age of the policyholder) and the claim management process is in outsourcing.

Keywords: Zero Coupon Bond; Policy Term; Insurance Content; Annual Bonus; Banking Product (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations: Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:pmschp:978-0-230-35828-7_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230358287

DOI: 10.1057/9780230358287_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Studies in Banking and Financial Institutions from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2021-04-28
Handle: RePEc:pal:pmschp:978-0-230-35828-7_3