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Bancassurance Market by Product, Type, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 173
  • SKU: IRTNTR41208
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The bancassurance market is estimated to grow at a CAGR of 6.66% between 2022 and 2027. The size of the market is forecast to increase by USD 404.89 billion. The growth of the market depends on serval factors, including the increased need for insurance, the increase in the number of HNWIs in developing regions, and the increasing government regulations on mandatory insurance coverage in developing countries

This report extensively covers market segmentation by product (life bancassurance and non-life bancassurance), type (pure distributor, joint venture, exclusive partnership, and financial holding), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Bancassurance Market During the Forecast Period?

Bancassurance Market Size

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Parent Market Analysis

Technavio categorizes the global bancassurance market as a part of the global specialized consumer services market within the global diversified consumer services market. The parent global specialized consumer services market covers revenue generated by consumer service providers, including residential services, home security services, legal services, personal services, renovation, and interior design services, consumer auction services, wedding services, and funeral services. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Bancassurance Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increased need for insurance is notably driving the market growth, although factors such as the risk to reputation may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Bancassurance Market Driver

The increased need for insurance is the key factor driving global bancassurance market growth. In 2018, the total number of natural catastrophes, including droughts, floods, hurricanes, tsunamis, earthquakes, epidemics, and volcanic activity, was nearly 315. In 2019, three major typhoons, including Lekima, Hagibis, and Idai, resulted in huge losses in terms of human life and property. In 2020, the world witnessed the outbreak of the COVID-19 pandemic, which led to a global health crisis. The emergence of such natural calamities and health crises led to an increase in the demand for insurance. Several individuals and organizations are proactively adopting insurance to financially protect themselves and their families from unexpected losses and damage due to unforeseen incidences.

With the increase in the demand for insurance, the bancassurance market is expected to grow during the forecast period. In addition, vehicle collisions lead to thousands of fatalities every year globally. In the US, more than five million accidents take place in a year, resulting in over 90 fatalities daily. Approximately 75% of the reported motorcycle crashes result in injuries or death. The same figure for car crashes is approximately 25%. This showcases the high demand for life, medical, accidental, and vehicle insurance. This will lead to the growth of the global bancassurance market during the forecast period.

Key Bancassurance Market Trend

The emergence of digital marketing platforms is the primary trend in the global bancassurance market. Digital marketing platforms (such as social media platforms) aid in propagating effective branding and marketing communication to target consumers. The global penetration of the Internet and smart gadgets and evolved customer expectations have increased the adoption of social media platforms by insurance firms. According to The World Bank Group, in 2021, more than 60% of the global population had access to the Internet. This percentage is expected to increase during the forecast period. Social media platforms aid in increasing a firm's market reach. Such platforms help propagate awareness about the multiple product offerings of a firm.

Thus, the emergence of the digital marketing platform helps in increasing the revenue of key market players. Insurance brokerage firms employ social media platforms to resolve insurance product queries, collect customer feedback, and provide simultaneous policy updates. For instance, Aon PLC has a significant presence on YouTube, Facebook, Twitter, and LinkedIn. The adoption of digital marketing strategies by key market players is expected to positively impact the global bancassurance market during the forecast period.

Key Bancassurance Market Challenge

Risk to reputation is a major challenge to the global bancassurance market growth. The reputation of banks is an essential element in building trust between the customer and the bank, and word of mouth is one of the key factors in promoting banks. Therefore, poor customer service or any inefficiency exhibited in the delivery of services of the bank may tarnish its reputation.

As banks act as corporate agents for insurance companies in the bancassurance model, they are held responsible for any problem regarding inefficient or delayed delivery of insurance services to the client, even though the problem may be of the insurance company. Hence, the reputation of the banks is at stake in the event of late or poor service delivery. Also, insurance fraud can tarnish a bank's reputation. This could highly influence a bank's reputation and affect its profitability.

Key Bancassurance Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Bancassurance Market Share by Geography

Global Bancassurance Market Customer Landscape

Who are the Major Bancassurance Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

abnamro.nl - The company bancassurance offers solutions such as home, car, travel, and liability insurances.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • American Express Co.
  • Australia and New Zealand Banking
  • AXA Group
  • Banco Bradesco SA
  • Banco Santander SA
  • Barclays PLC
  • BNP Paribas SA
  • Citigroup Inc.
  • CNA Insurance Corp.
  • Credit Agricole SA
  • Credit Mutuel
  • HSBC Holdings Plc
  • ING Groep NV
  • Intesa Sanpaolo Spa
  • Lloyds Banking Group Plc

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Bancassurance Market?

The market share growth by the life bancassurance segment will be significant during the forecast period. A life bancassurance policy provides financial protection against any monetary loss that may take place because of an unexpected or early death of the insured person. This helps the beneficiaries to tackle financial uncertainties in the event of the death of the insured person. Investing in life insurance has become a key financial decision for insurance customers. With growing awareness, bancassurance providers are witnessing massive growth in demand for life insurance policies.

Bancassurance Market Size

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The life bancassurance segment was valued at USD 726.75 billion in 2017 and continue to grow by 2021The major factors for the growth of the life bancassurance segment include the increasing average age of the population in North America and Europe. People who are financially stable and in their 30s are more inclined to get their life insured to ensure that their family is financially safe in their absence. Other factors, such as the frequent occurrence of natural calamities and terrorist attacks, which cause unexpected deaths, also drive the growth of the life bancassurance segment. Hence, life bancassurance companies are expected to sell more products on life cover. These factors propel the growth of the global life bancassurance market during the forecast period.

Which are the Key Regions for the Bancassurance Market?

Bancassurance Market Share by Geography

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APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market is driven by growing economies, higher penetration of insurance, and a burgeoning middle-class population in the region. The deregulation of banks and bancassurance policy has facilitated the formation of multiple partnerships of banks with insurance companies. For instance, in September 2019, United India Insurance Co. Ltd. partnered with Syndicate Bank to provide a wide range of non-life bancassurance policies. Taiwan and Malaysia have a high penetration of bancassurance, while India and China are growing rapidly in the region.

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for APAC. However, in 2021, the shift of banking and insurance companies in developing countries in the region toward digitalization recouped the growth of the market in focus. In countries such as Japan, Australia, and New Zealand, online banking was preferred by customers even before the pandemic. Therefore, the market remained resilient in these parts of the region. The digital interaction between customers and insurers has increased with the outbreak of the second wave, primarily for seeking medical insurance. In 2021, large-scale vaccination drives and other government initiatives resulted in the relaxation of lockdown restrictions and the resumption of business operations. Therefore, the gradual shift of customers and vendors toward digitalization is expected to supplement the growth of the bancassurance market in the region during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (Life bancassurance and Non-Life bancassurance), Type (Pure distributor, Joint venture, Exclusive partnership, and Financial holding), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).

  • Product Outlook (USD Billion, 2017 - 2027)
    • Life bancassurance
    • Non-Life bancassurance
  • Type Outlook (USD Billion, 2017 - 2027)
    • Pure distributor
    • Joint venture
    • Exclusive partnership
    • Financial holding
  • Region Outlook (USD Billion, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Bancassurance Market Scope

Report Coverage

Details

Page number

173

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.66%

Market growth 2023-2027

USD 404.89 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

6.35

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 53%

Key countries

China, Japan, France, Germany, and Spain

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABN AMRO Group NV, American Express Co., Australia and New Zealand Banking, AXA Group, Banco Bradesco SA, Banco Santander SA, Barclays PLC, BNP Paribas SA, Citigroup Inc., CNA Insurance Corp., Credit Agricole SA, Credit Mutuel, HSBC Holdings Plc, ING Groep NV, Intesa Sanpaolo Spa, Lloyds Banking Group Plc, Metlife Inc., Nordes Bank Abp, Wells Fargo and Co, and Yes Bank Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Bancassurance Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the bancassurance market between 2023 and 2027
  • Precise estimation of the size of the bancassurance market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across APAC, Europe, North America, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of bancassurance market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global bancassurance market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global bancassurance market 2017 - 2021 ($ billion)
    • 4.2 Product Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)
    • 4.3 Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Life bancassurance - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Life bancassurance - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Life bancassurance - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Life bancassurance - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Life bancassurance - Year-over-year growth 2022-2027 (%)
    • 6.4 Non-Life bancassurance - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Non-Life bancassurance - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Non-Life bancassurance - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Non-Life bancassurance - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Non-Life bancassurance - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Product
      • Exhibit 42: Market opportunity by Product ($ billion)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 43: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 45: Chart on Comparison by Type
      • Exhibit 46: Data Table on Comparison by Type
    • 7.3 Pure distributor - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Pure distributor - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Data Table on Pure distributor - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 49: Chart on Pure distributor - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Pure distributor - Year-over-year growth 2022-2027 (%)
    • 7.4 Joint venture - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Joint venture - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Data Table on Joint venture - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 53: Chart on Joint venture - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Joint venture - Year-over-year growth 2022-2027 (%)
    • 7.5 Excusive partnership - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Excusive partnership - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 56: Data Table on Excusive partnership - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 57: Chart on Excusive partnership - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Excusive partnership - Year-over-year growth 2022-2027 (%)
    • 7.6 Financial holding - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Financial holding - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 60: Data Table on Financial holding - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 61: Chart on Financial holding - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Financial holding - Year-over-year growth 2022-2027 (%)
    • 7.7 Market opportunity by Type
      • Exhibit 63: Market opportunity by Type ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 65: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 66: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 67: Chart on Geographic comparison
      • Exhibit 68: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 France - Market size and forecast 2022-2027
      • Exhibit 93: Chart on France - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Data Table on France - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 95: Chart on France - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on France - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 Spain - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Spain - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 102: Data Table on Spain - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 103: Chart on Spain - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Spain - Year-over-year growth 2022-2027 (%)
    • 9.12 Japan - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 109: Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 110: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 111: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 112: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 113: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 114: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 115: Matrix on vendor position and classification
            • 12.3 ABN AMRO Group NV
              • Exhibit 116: ABN AMRO Group NV - Overview
              • Exhibit 117: ABN AMRO Group NV - Business segments
              • Exhibit 118: ABN AMRO Group NV - Key offerings
              • Exhibit 119: ABN AMRO Group NV - Segment focus
            • 12.4 American Express Co.
              • Exhibit 120: American Express Co. - Overview
              • Exhibit 121: American Express Co. - Business segments
              • Exhibit 122: American Express Co. - Key offerings
              • Exhibit 123: American Express Co. - Segment focus
            • 12.5 Australia and New Zealand Banking
              • Exhibit 124: Australia and New Zealand Banking - Overview
              • Exhibit 125: Australia and New Zealand Banking - Business segments
              • Exhibit 126: Australia and New Zealand Banking - Key offerings
              • Exhibit 127: Australia and New Zealand Banking - Segment focus
            • 12.6 Banco Bradesco SA
              • Exhibit 128: Banco Bradesco SA - Overview
              • Exhibit 129: Banco Bradesco SA - Business segments
              • Exhibit 130: Banco Bradesco SA - Key offerings
              • Exhibit 131: Banco Bradesco SA - Segment focus
            • 12.7 Banco Santander SA
              • Exhibit 132: Banco Santander SA - Overview
              • Exhibit 133: Banco Santander SA - Business segments
              • Exhibit 134: Banco Santander SA - Key offerings
              • Exhibit 135: Banco Santander SA - Segment focus
            • 12.8 Barclays PLC
              • Exhibit 136: Barclays PLC - Overview
              • Exhibit 137: Barclays PLC - Business segments
              • Exhibit 138: Barclays PLC - Key news
              • Exhibit 139: Barclays PLC - Key offerings
              • Exhibit 140: Barclays PLC - Segment focus
            • 12.9 BNP Paribas SA
              • Exhibit 141: BNP Paribas SA - Overview
              • Exhibit 142: BNP Paribas SA - Business segments
              • Exhibit 143: BNP Paribas SA - Key offerings
              • Exhibit 144: BNP Paribas SA - Segment focus
            • 12.10 Citigroup Inc.
              • Exhibit 145: Citigroup Inc. - Overview
              • Exhibit 146: Citigroup Inc. - Business segments
              • Exhibit 147: Citigroup Inc. - Key offerings
              • Exhibit 148: Citigroup Inc. - Segment focus
            • 12.11 Credit Agricole SA
              • Exhibit 149: Credit Agricole SA - Overview
              • Exhibit 150: Credit Agricole SA - Product / Service
              • Exhibit 151: Credit Agricole SA - Key offerings
            • 12.12 Credit Mutuel
              • Exhibit 152: Credit Mutuel - Overview
              • Exhibit 153: Credit Mutuel - Business segments
              • Exhibit 154: Credit Mutuel - Key offerings
              • Exhibit 155: Credit Mutuel - Segment focus
            • 12.13 HSBC Holdings Plc
              • Exhibit 156: HSBC Holdings Plc - Overview
              • Exhibit 157: HSBC Holdings Plc - Business segments
              • Exhibit 158: HSBC Holdings Plc - Key news
              • Exhibit 159: HSBC Holdings Plc - Key offerings
              • Exhibit 160: HSBC Holdings Plc - Segment focus
            • 12.14 ING Groep NV
              • Exhibit 161: ING Groep NV - Overview
              • Exhibit 162: ING Groep NV - Business segments
              • Exhibit 163: ING Groep NV - Key offerings
              • Exhibit 164: ING Groep NV - Segment focus
            • 12.15 Lloyds Banking Group Plc
              • Exhibit 165: Lloyds Banking Group Plc - Overview
              • Exhibit 166: Lloyds Banking Group Plc - Business segments
              • Exhibit 167: Lloyds Banking Group Plc - Key offerings
              • Exhibit 168: Lloyds Banking Group Plc - Segment focus
            • 12.16 Metlife Inc.
              • Exhibit 169: Metlife Inc. - Overview
              • Exhibit 170: Metlife Inc. - Business segments
              • Exhibit 171: Metlife Inc. - Key offerings
              • Exhibit 172: Metlife Inc. - Segment focus
            • 12.17 Wells Fargo and Co
              • Exhibit 173: Wells Fargo and Co - Overview
              • Exhibit 174: Wells Fargo and Co - Business segments
              • Exhibit 175: Wells Fargo and Co - Key offerings
              • Exhibit 176: Wells Fargo and Co - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 177: Inclusions checklist
                • Exhibit 178: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 179: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 180: Research methodology
                • Exhibit 181: Validation techniques employed for market sizing
                • Exhibit 182: Information sources
              • 13.5 List of abbreviations
                • Exhibit 183: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Bancassurance market growth will increase by $404.89 billion during 2023-2027.
              The bancassurance market is expected to grow at a CAGR of 6.66% during 2023-2027.
              Technavio has segmented the bancassurance market by product (Life bancassurance and Non-Life bancassurance) ,type (Pure distributor, Joint venture, Excusive partnership, Financial holding, and MEA) , and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              ABN AMRO Group NV, American Express Co., Australia and New Zealand Banking, AXA Group, Banco Bradesco SA, Banco Santander SA, Barclays PLC, BNP Paribas SA, Citigroup Inc., CNA Insurance Corp., Credit Agricole SA, Credit Mutuel, HSBC Holdings Plc, ING Groep NV, Intesa Sanpaolo Spa, Lloyds Banking Group Plc, Metlife Inc., Nordes Bank Abp, Wells Fargo and Co, Yes Bank Ltd. are a few of the key vendors in the bancassurance market.
              APAC will register the highest growth rate of 52.56% among the other regions. Therefore, the bancassurance market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • China
              • Japan
              • France
              • Germany
              • Spain
              The key factors driving the bancassurance market growth are:
              • Increased need for insurance
              • Emergence of digital marketing platforms
              The bancassurance market vendors should focus on grabbing business opportunities from the life bancassurance segment as it accounted for the largest market share in the base year.
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