Market Overview:
The global non-life bancassurance market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for insurance products, especially in developing countries, and the growing trend of using digital channels for banking and insurance transactions. The global non-life bancassurance market can be segmented by type into digital channel and traditional channel. The digital channel segment is expected to grow at a higher CAGR than the traditional channel segment during the forecast period from 2018 to 2030. This growth can be attributed to the increasing use of online and mobile channels for banking and insurance transactions, which has led to an increase in demand for these products among consumers. The global non-life bancassurance market can also be segmented by application into homeowner’s insurance, commercial property insurance, natural disaster insurance, and others (healthcare, travel). The homeowner’s insurance application is expected to account for the largest share of the global non-life bancassurance market in terms of revenue during the forecast period from 2018to 2030.
Product Definition:
Non-life bancassurance is the distribution of non-life insurance products through banks. This type of distribution is becoming more popular because it allows customers to purchase insurance products through their primary financial institution. The importance of non-life bancassurance is that it allows customers to easily and conveniently purchase insurance products.
Digital Channel:
Digital channel is a medium used by banks to communicate with their customers. It helps in enhancing the relationship between the bank and its customers. Digital channels help in increasing customer engagement, improving customer experience, reducing operational costs and risks while providing an enhanced user interface for managing operations efficiently.
The major drivers of digital channel are technology proliferation, globalization of financial services industry.
Traditional:
Traditional insurance is a form of property and casualty insurance that provides protection against financial loss due to risks such as fire, theft, windstorm, etc. The traditional market is segmented into two types based on the type of policy issued - term and non-term. The key difference between the two types lies in their duration - non-term policies are available for a longer period whereas term policies are available for a specific duration.
Application Insights:
The commercial property insurance segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to factors such as growing real estate investments, increasing awareness about non-life assurance products among business owners, and favorable government regulations.
The natural disaster insurance segment is also expected to register a significant CAGR during the forecast period owing to increasing investments by governments in hazard mitigation programs. Furthermore, companies are offering various types of coverages including windstorm/ hail damage waiver and comprehensive general liability coverage at low costs than their life counterparts.
Other applications include homeowner's insurance.
Regional Analysis:
North America dominated the global market in 2017. The growth of the regional market can be attributed to several factors such as high internet penetration, technological advancements, and increasing awareness about financial services among customers. Moreover, presence of key players in this region is also expected to drive the growth over the forecast period.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising disposable income and improving economic conditions in emerging countries like India and China.
The European NBNC industry accounted for a relatively smaller share as compared to North America or Asia Pacific regions owing to less internet penetration and lower smartphone adoption rates among consumers there.
Growth Factors:
- Increasing demand for insurance products due to rising awareness about the benefits of insurance and growing population.
- Rapid economic development in emerging markets is leading to increased spending on non-life bancassurance products, as consumers become more affluent and seek protection against risks.
- The growth of digital channels is facilitating the distribution of insurance products, making them more easily available to consumers.
- The increasing trend towards consolidation among insurers is providing opportunities for bancassurers to expand their product offerings and customer base.
- Regulatory changes that allow banks greater flexibility in offering insurance products are providing a boost to the non-life bancassurance market
Scope Of The Report
Report Attributes
Report Details
Report Title
Non-Life Bancassurance Market Research Report
By Type
Digital Channel, Traditional
By Application
Homeowner’s Insurance, Commercial Property Insurance, Natural Disaster Insurance, Others
By Companies
ABN AMRO Bank, ANZ, Banco Bradesco, American Express, Banco Santander, BNP Paribas, ING Group, Wells Fargo, Barclays, Intesa Sanpaolo, Lloyds Bank, Citigroup, HSBC, NongHyup Financial Group, Nordea Bank
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
139
Number of Tables & Figures
98
Customization Available
Yes, the report can be customized as per your need.
Global Non-Life Bancassurance Market Report Segments:
The global Non-Life Bancassurance market is segmented on the basis of:
Types
Digital Channel, Traditional
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Homeowner’s Insurance, Commercial Property Insurance, Natural Disaster Insurance, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABN AMRO Bank
- ANZ
- Banco Bradesco
- American Express
- Banco Santander
- BNP Paribas
- ING Group
- Wells Fargo
- Barclays
- Intesa Sanpaolo
- Lloyds Bank
- Citigroup
- HSBC
- NongHyup Financial Group
- Nordea Bank
Highlights of The Non-Life Bancassurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Digital Channel
- Traditional
- By Application:
- Homeowner’s Insurance
- Commercial Property Insurance
- Natural Disaster Insurance
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Non-Life Bancassurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Non-life bancassurance is a type of insurance that provides protection against financial losses in the event of the death or disability of an insured person.
Some of the key players operating in the non-life bancassurance market are ABN AMRO Bank, ANZ, Banco Bradesco, American Express, Banco Santander, BNP Paribas, ING Group, Wells Fargo, Barclays, Intesa Sanpaolo, Lloyds Bank, Citigroup, HSBC, NongHyup Financial Group, Nordea Bank.
The non-life bancassurance market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Non-Life Bancassurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Non-Life Bancassurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Non-Life Bancassurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Non-Life Bancassurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Non-Life Bancassurance Market Size & Forecast, 2018-2028
4.5.1 Non-Life Bancassurance Market Size and Y-o-Y Growth
4.5.2 Non-Life Bancassurance Market Absolute $ Opportunity
Chapter 5 Global Non-Life Bancassurance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Non-Life Bancassurance Market Size Forecast by Type
5.2.1 Digital Channel
5.2.2 Traditional
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Non-Life Bancassurance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Non-Life Bancassurance Market Size Forecast by Applications
6.2.1 Homeowner’s Insurance
6.2.2 Commercial Property Insurance
6.2.3 Natural Disaster Insurance
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Non-Life Bancassurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Non-Life Bancassurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Non-Life Bancassurance Analysis and Forecast
9.1 Introduction
9.2 North America Non-Life Bancassurance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Non-Life Bancassurance Market Size Forecast by Type
9.6.1 Digital Channel
9.6.2 Traditional
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Non-Life Bancassurance Market Size Forecast by Applications
9.10.1 Homeowner’s Insurance
9.10.2 Commercial Property Insurance
9.10.3 Natural Disaster Insurance
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Non-Life Bancassurance Analysis and Forecast
10.1 Introduction
10.2 Europe Non-Life Bancassurance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Non-Life Bancassurance Market Size Forecast by Type
10.6.1 Digital Channel
10.6.2 Traditional
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Non-Life Bancassurance Market Size Forecast by Applications
10.10.1 Homeowner’s Insurance
10.10.2 Commercial Property Insurance
10.10.3 Natural Disaster Insurance
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Non-Life Bancassurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Non-Life Bancassurance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Non-Life Bancassurance Market Size Forecast by Type
11.6.1 Digital Channel
11.6.2 Traditional
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Non-Life Bancassurance Market Size Forecast by Applications
11.10.1 Homeowner’s Insurance
11.10.2 Commercial Property Insurance
11.10.3 Natural Disaster Insurance
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Non-Life Bancassurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Non-Life Bancassurance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Non-Life Bancassurance Market Size Forecast by Type
12.6.1 Digital Channel
12.6.2 Traditional
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Non-Life Bancassurance Market Size Forecast by Applications
12.10.1 Homeowner’s Insurance
12.10.2 Commercial Property Insurance
12.10.3 Natural Disaster Insurance
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Non-Life Bancassurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Non-Life Bancassurance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Non-Life Bancassurance Market Size Forecast by Type
13.6.1 Digital Channel
13.6.2 Traditional
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Non-Life Bancassurance Market Size Forecast by Applications
13.10.1 Homeowner’s Insurance
13.10.2 Commercial Property Insurance
13.10.3 Natural Disaster Insurance
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Non-Life Bancassurance Market: Competitive Dashboard
14.2 Global Non-Life Bancassurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABN AMRO Bank
14.3.2 ANZ
14.3.3 Banco Bradesco
14.3.4 American Express
14.3.5 Banco Santander
14.3.6 BNP Paribas
14.3.7 ING Group
14.3.8 Wells Fargo
14.3.9 Barclays
14.3.10 Intesa Sanpaolo
14.3.11 Lloyds Bank
14.3.12 Citigroup
14.3.13 HSBC
14.3.14 NongHyup Financial Group
14.3.15 Nordea Bank
