2. Bancassurance – Broad
Approaches/Models
Integrated Model
• Successful in Europe, and increasingly in India. Players in countries like
France, Italy, and Spain operate either through fully owned insurance
subsidiaries or through joint ventures that have an exclusive
distribution agreement with the bank
Non-integrated Model
• Banks sell insurance through authorized financial advisers as bank staff
are not allowed to sell
Open architecture Model
• Banks have non-exclusive distribution agreements with several
insurance companies
3. Bancassurance – Broad
Approaches/Models
Referral Model
• Bank shares clients’ data base, with the agents/sales staff of the
insurance company for a ‘referral fee’ or commission
Corporate Agency Model
• Popular in India - bank as an institution acts as a corporate agent for
the insurance company for the purpose of distribution of insurance
products for a fee/commission
Fully Integrated Model
• Bank and insurance company together manufacture, distribute and
bear all the risks associated with that business
4. Integrated bancassurance defines where
customers are
Global Banking Private Banking
and Markets Global
HNWI
Institutions
Corporate Mass Affluent
Commercial Personal
Banking banking
SME Mass Market
Universal product (Credit Cards)
5. Branding & Marketing: Agenda
• The 7 aspects of manufacturing and
distribution of Insurance through Banks
– Relative Importance of each aspect – in Life and
General Insurance
– Building successful convergence at customer level
• Marketing and Branding
– Product Alignment with each customer segment
– Dealing with the realities of customer perspective
– Ideas for evolving the Marketing & Branding
approaches in India
