Bancassurance

As bancassurance - the marketing of life and non-life products to a bank client base - has evolved since the early 1990s in Europe, DIBC has monitored best practice in areas such as strategy, structure, channel management and the results of cross selling efforts. In addition, we have been asked on several occasions to identify and rank possible strategic distribution partners for bancassurance providers outside their home market.

Recent Assignments:

• A leading European non-life insurance provider requested DIBC's assistance in identifying and selecting a foreign banking partner interested in its unique direct service concept. We contacted a variety of such banks across the world and initiated substantive negotiations with a major Canadian bank
• A major Scandinavian bank contemplating a merger with an insurance partner asked us to determine best practice in similar institutions in maximising the cross-selling of both banking and insurance products
• For a UK bancassurance leader, we identified possible European partners interested in a partnership based on its success in marketing insurance products through a banking network. Negotiations were commenced with a Scandinavian banking group
• A research report for a leading Canadian insurance company on bank/insurance mergers and the possible lessons for public policy. This was based almost entirely on desk research and covered Europe, the US, Australia and South Africa.

Publications:

European insurance distribution: a battle for the customer
(Salomon Brothers)

Dutch insurance distribution: a case study at the cutting edge of bancassurance
(Salomon Brothers)

European integration: banks and insurance companies square off in a distribution war
(Salomon Brothers)

EBR Forum: Operational synergies in bank insurance mergers (download)

A report card for bancassurance in Europe - and lessons for the future (download)

Bank/insurance mergers outside Canada: the lessons for public policy (Power Financial Corporation - see Publications section to access a copy of the report)

Main Contacts:

Steve Davis