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Report: China and India Exhibiting High Growth Potential for Bank assurance

Fast Market Research announces the availability of the new TechNavio report, "Global Bank assurance Market 2015-2019", on their comprehensive research portal


Boston, MA -- (SBWIRE) -- 08/25/2015 -- Fast Market Research announces the availability of Technavio's new report "Global Bank assurance Market 2015-2019" on their comprehensive research portal.

Bank assurance, or bank insurance model (BIM), refers to an arrangement wherein insurance products are sold through banking channels via tie-ups. This is the result of the amalgamation of a bank and an insurance company aiming to reach out to a wider customer base. The concept originated in Europe in the 1980s and has now become popular the world over. Consolidation in the financial services sector is resulting in bank assurance becoming vital to the growth of the overall financial services market.

Technavio's analysts forecast the global bank assurance market to grow at a CAGR of 6.16% over the period 2014-2019.

Get More Details on this Report and a Full Table of Contents at Global Bank assurance Market 2015-2019

Get More Details on this Report and a Full Table of Contents at Global Bank assurance Market 2015-2019

Commenting on the report, an analyst from Technavio?s team said: ?Emerging markets such as China and India are exhibiting high growth potential for bank assurance. The regulatory authorities have recognized the potential of the bank assurance model in these countries and have relaxed their norms to encourage private insurance players to integrate with banks.?

According to the report, the bank assurance model helps banks to increase their financial product portfolio and cross-sell insurance products. As insurance is an integral part of financial planning for an individual or enterprise, the addition of insurance products to the product portfolio creates income streams and enhances the banks' revenue.

Further, the report states that it is difficult for banks to position themselves to sell insurance products, especially in countries where the market penetration of banks is already low. Therefore, market positioning and branding to promote banks as a potential insurance distributor is crucial in bank assurance. However, it is expensive and requires huge effort.

The key players in the Global Bank assurance Market are Credit Agricole, ING Groep, BNP Paribas Cardif, HSBC, Santander UK, Citigroup, Wells Fargo and American Express while other prominent vendors include ABN AMRO, ANZ, Banco Bradesco, Barclays, Credit Mutuel, Intesa Sanpaolo, Lloyds Bank Group, NongHyup Financial Group, Nordea Group, and Soci?t? G?n?rale

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