The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The GCC bancassurance market reached a value of US$ XX Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Bancassurance is an agreement between the bank and an insurance firm that allows the sales of insurance services and financial products via banking institutions. This setup is dependent on a mutual partnership that aims to benefit the bank, the insurance company and the customers. It is a cost-effective partnership that enables insurance companies to further their geographical presence and banks to expand their product portfolio. As a result, this agreement aids in sales generation, profit maximization, retention of existing and new customers, and customization of products and services.
The market in the GCC region is primarily driven by significant growth in the banking, financial, services and insurance (BFSI) sector. Along with this, numerous banks and insurance companies in the region are engaging in strategic collaborations and partnerships to expand their presence in the local market and expand their bancassurance activities, which, in turn, is providing an impetus to the market growth. Moreover, numerous government initiatives of various countries across the GCC region to provide a regulatory framework for bancassurance activities are expected to boost the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC bancassurance market, along with forecasts at the country and regional level from 2021-2026. Our report has categorized the market based on product type and model type.
Breakup by Product Type:
Breakup by Model Type:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, Model Type, Country|
|Countries Covered||Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )
Drop us an email at