Abstract
Overview
Introduction
A comprehensive analysis of the UK bancassurance market in 2007, providing a
definitive guide to current trends including size, growth, the competitive
landscape, and the effects of key issues such as recent regulation, and
changes in distribution on the evolving segmentation and future development of
the market.
Scope
- Uses data from the ABI and Datamonitor' s proprietary distribution models
to size and segment the bancassurance market
- Examines the current shape of the bancassurance market and explores the
factors that are currently limiting banks' ability to sell investment products
- Assesses the key changes to the business model that are needed for future
success in the bancassurance market
Report Highlights
Although the commodity sale of protection products may be attractive to
bancassurers, the most profitable business is conducted in the investment side
of the market. However many banks lack the reputation on the life and pensions
side of the business and have not built up the confidence in their customer
base.
For banks there needs to be a two-pronged approach to selling bancassurance,
firstly teller staff need to be trained to identify potential targets and
secondly advisors need to be skilful in identifying needs and completing sales.
Reasons to Purchase
- Access Datamonitor expertise, detailed analysis, and extensive primary
research to gain an insight into the complexities of the current market
- Identify the current changes taking place in the distribution landscape,
and the issues and developments facing the bancassurance channel
- Understand the future of the market, and the way in which the
bancassurance channel is likely to develop over the next five years
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