Bancassurance In Thailand: Life, Non-life And Creditor Insurance

By Author: Bharat Book Bureau
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Bancassurance in Thailand: Life, Non-Life and Creditor Insurance is a study and related PartnerBASE™ dataset examining the provision of life, non-life and creditor insurance by banks and other lending institutions in Thailand.

Drawing on the results of a survey of 44 banking entities in Thailand, the study verifies the percentage of organisations investigated that distribute each of the following 13 types of insurance: accident insurance, creditor insurance related to consumer finance, creditor insurance related to credit cards, creditor insurance related to mortgages, critical illness insurance, health / hospital cash plans, household insurance, income protection insurance, investment-related life insurance, medical expenses insurance, personal motor insurance, retirement savings, and risk life insurance.

For those banking entities that are active in one or more of these fields, the reports ascertain the operating models that they use to source the type of insurance in question (e.g. external, joint venture or captive underwriters) and the identity of the specific providers used. This information is then displayed ...
... in terms of the weighted share of partnerships of these providers, which takes into account the number of retail customers of the partner banking entities, thus highlighting those insurance companies that hold the distribution relationships that offer the most potential. http://www.bharatbook.com/insurance-market-research-reports/bancassurance-in-thailand-life-non-life-and-creditor-insurance.html

You may be able to use this report, plus the PartnerBASE™ dataset and market data annexes that accompany it, in one or more of the following ways:

- gain access to a source of information that provides a comprehensive overview of the provision of personal insurance products by all significant banking entities in Thailand;

- identify partnership opportunities for the same personal insurance products that may arise either because a banking institution is not currently active or because there is scope for replacing an existing initiative;

- understand which underwriters and other product providers have been successful in establishing distribution relationships with the most important banking entities in Thailand;

- assess how the evolving regulatory environment may open up or block opportunities for your organisation to sell through the bank distribution channel;

- appreciate the magnitude of the opportunity to sell personal insurance products through banks and other lending institutions in Thailand.

Overall, in a market in which bancassurance claims a distribution share of about 36% in life insurance and 14% in non-life insurance, across the 44 banks and other lending institutions researched in Thailand, Finaccord’s research identified 165 bancassurance distribution initiatives for the various types of insurance investigated.

Table of Contents

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION
What is this report about?
Distribution partnerships with banks and other lending institutions constitute the focus of this report
Rationale
Bancassurance is one of the most important distribution channels for life insurance in Thailand
Methodology
Survey of banks and other lending institutions
Market data
Definitions
Investment-related life insurance
Retirement savings
Risk life insurance
Critical illness insurance
Income protection insurance
Accident insurance
Health / hospital cash plans
Medical expenses insurance
Personal motor insurance
Household insurance
Creditor insurance
Mortgages, consumer finance and credit cards
Weighted provider share of partnerships
Operating models
Abbreviations and exchange rates
PartnerBASE™ and market data annexe
Finaccord

2.0 MARKET BACKGROUND
Banks and other lending institutions covered
Economic background
Thailand benefits from an open and export-driven economy...
... although economic success is not shared equally across the country
In the Ease of Doing Business ranking, Thailand's economy is ranked 17th in the world
Introduction to the banking sector
In terms of its number of retail customers, Bangkok Bank leads the market
Government-owned institutions play an important role in the mortgage lending sector
The presence of foreign-owned banks in the market is comparatively limited,,,
... with several overseas entities having exited the market in recent years
Introduction to bancassurance
Bancassurance in Thailand is well-developed especially for life insurance products
A number of banks have divested stakes in insurance companies in recent years...
…although Siam Commercial Bank has taken full control of its joint venture...
... leaving only two bona fide joint venture insurers in the bancassurance sector
Many insurance companies sell through banks as a part of a multi-channel strategy...
... although those with the most exposure to bancassurance have tended to grow most rapidly
The Thai bancassurance market is subject to relatively 'light touch' regulation
For more information kindly visit :
Bancassurance in Thailand: Life, Non-Life and Creditor Insurance
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