India Bancassurance Market: Growth, Trends, and Forecast 2021-2026
According to the latest report by IMARC Group, titled “India Bancassurance Market Share: Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026,” the India bancassurance market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group is expected the India bancassurance market to grow at a CAGR of around 7% during 2021-2026. Bancassurance is an arrangement between insurance companies and banks, which enables the bank to earn additional revenue by selling products of the insurance company. It assists in expanding the financial product portfolio of banks and improving their turnover with little or no capital outlay. As it also aids in profit maximization, customization of products and services, sales generation, and retention of existing and new customers, bancassurance is gaining popularity in India.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
There is a rise in the number of banks across India, which are engaging in strategic partnerships to strengthen their market presence. This represents one of the key factors positively influencing the market. Besides this, considerable expansion of the banking, financial, services and insurance (BFSI) sector is also contributing to market growth. Furthermore, leading market players operating in the country are continuously improving their digital strategies. This, along with the rising presence of commercial banking networks and foreign insurance companies, is creating a favorable market outlook.
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Key Market Segmentation:
Breakup by Product Type:
- Life Bancassurance
- Non-Life Bancassurance
Breakup by Model Type:
- Pure Distributor
- Exclusive Partnership
- Financial Holding
- Joint Venture
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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