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Analysis of Credit Institutions' Risks in the Bancassurance Market
Subject The intensifying competition in the financial market urged its residents to create complex products, establish partnership relations and cross-distribution channels. Bancassurance became a new area of cooperation. The business cooperation of banks and insurance companies not only presents new product offerings for customers and enable them to increment their income, but also entails various risks.
Objectives The research studies the premises and nature of banking risks in the bancassurance segment, defines its types, evaluates consequences and outlines preventative measures.
Methods Studying banking risks, I applied methods of logic and economic analysis.
Results I examined the current situation in the bancassurance segment, determined its key trends, pinpointed banking risk factors and proposed the typification of risks detailed as per credit and non-credit insurance. Based on the typification, I conducted the comprehensive analysis of each type of probable scenarios.
Conclusions and Relevance The probability and level of the bancassurance risk depend on the type of an insurance product, status of the bank acting as a beneficiary or agent, bank's affiliation with the insurance company, quality and performance of insurer certification requirements the banks sets. Banking is exposed to serious reputation risks. The opaque partner acceptance system triggers abuses during the transition from collective agreements to agency. The unregulated nature of this aspect may cause massive bankruptcy of insurance companies, undermine the public confidence and corporate customers in financial institutions and damage the megaregulator's reputation.
Ключевые слова: banking risk, bank exposure, bank insurance, bancassurance, sales channel
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