|
Summary
Bancassurance was created in France in the 70/80s motivated by a new context of the insurance market, new needs on the part of consumers and a strategy of the banks, trying to diversify their activity.
Since then, bancassurance has been highly successful, as today most of the major French banks have set up their own insurance companies, which take in a significant part of the life insurance market.
This success coincided with a favorable taxation for life insurance products, as well as with the consumers' growing needs, which were due to an inadequacy of the pension schemes in France.
The links between bank and insurance have taken place through various ways (distribution agreements, joint ventures, creation of a company ex nihilo) and have given rise to a complete upheaval concerning marketing strategies and the setting up of insurance products' distribution.
To start with, the bancassurers focused on the sale of products linked to their banking activity, but they then diversified their offers and can now be found in most insurance branches (life/non life), with a recent development centered on health, welfare and property casualty insurance.
The objectives of this paper are: |
