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India Bancassurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The India 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 refers to the distribution of various insurance services and financial products via banking institutions. Some of the common bancassurance services include unit-linked insurance plans (ULIPs),  endowment plans, and marine, health and property insurances. In this setup, insurance companies use banks as a medium to sell their products under distribution contracts that enable them 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.

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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The market in India is primarily driven by significant growth in the banking, financial, services and insurance (BFSI) sector. Along with this, numerous banks across the country are engaging in strategic partnerships to strengthen their market presence. Also, collaborations to expand the bancassurance market coverage in India, are acting as a major growth-inducing factor. Some of the other factors contributing to the market growth include the increasing presence of commercial banking networks and foreign insurance companies across the country and continual improvements in the digital strategies adopted by various key players.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India 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:

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Million
Segment Coverage Product Type, Model Type, Region
Region Covered North India, West and Central India, South India, East India
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 2999
Corporate License: US$ 3499
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)

 

Key Questions Answered in This Report:

  • How has the India bancassurance market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the India bancassurance market?
  • What are the key regional markets?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the model type?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the India bancassurance market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    India Bancassurance Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Product Type
    6.1    Life Bancassurance
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Non-Life Bancassurance
        6.2.1    Market Trends
        6.2.2    Market Forecast
7    Market Breakup by Model Type
    7.1    Pure Distributor
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Exclusive Partnership
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Financial Holding
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Joint Venture
        7.4.1 Market Trends
        7.4.2 Market Forecast 
8    Market Breakup by Region
    8.1    North India
        8.1.1 Market Trends
        8.1.2 Market Breakup by State
        8.1.3 Market Forecast
    8.2    West and Central India
        8.2.1 Market Trends
        8.2.2 Market Breakup by State
        8.2.3 Market Forecast
    8.3    East India
        8.3.1 Market Trends
        8.3.2 Market Breakup by State
        8.3.3 Market Forecast
    8.4    South India
        8.4.1 Market Trends
        8.4.2 Market Breakup by State
        8.4.3 Market Forecast
9    SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Value Chain Analysis
11    Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12    Policy and Regulatory Landscape
13    Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players

List of Figures

Figure 1: India: Bancassurance Market: Major Drivers and Challenges
Figure 2: India: Bancassurance Market: Sales Value (in Million US$), 2015 - 2020 
Figure 3: India: Bancassurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 4: India: Bancassurance Market: Breakup by Product Type (in %), 2020
Figure 5: India: Bancassurance Market: Breakup by Model Type (in %), 2020
Figure 6: India: Bancassurance Market: Breakup by Region (in %), 2020
Figure 7: India: Bancassurance (Life Bancassurance) Market: Sales Value (in Million US$), 2015 & 2020
Figure 8: India: Bancassurance (Life Bancassurance) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 9: India: Bancassurance (Non-Life Bancassurance) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: India: Bancassurance (Non-Life Bancassurance) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: India: Bancassurance (Pure Distributor) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: India: Bancassurance (Pure Distributor) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: India: Bancassurance (Exclusive Partnership) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: India: Bancassurance (Exclusive Partnership) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: India: Bancassurance (Financial Holding) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: India: Bancassurance (Financial Holding) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: India: Bancassurance (Joint Venture) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: India: Bancassurance (Joint Venture) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: North India: Bancassurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: North India: Bancassurance Market: Breakup by State (in %), 2020
Figure 21: North India: Bancassurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: West and Central India: Bancassurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: West and Central India: Bancassurance Market: Breakup by State (in %), 2020
Figure 24: West and Central India: Bancassurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: East India: Bancassurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: East India: Bancassurance Market: Breakup by State (in %), 2020
Figure 27: East India: Bancassurance Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: South India: Bancassurance Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: South India: Bancassurance Market: Breakup by State (in %), 2020
Figure 30: South India: Bancassurance Market Forecast: Sales Value (in Million US$), 2021-2026 
Figure 31: India: Bancassurance Industry: SWOT Analysis
Figure 32: India: Bancassurance Industry: Value Chain Analysis
Figure 33: India: Bancassurance Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: India: Bancassurance Market: Key Industry Highlights, 2020 and 2026
Table 2: India: Bancassurance Market Forecast: Breakup by Product Type (in Million US$), 2021-2026
Table 3: India: Bancassurance Market Forecast: Breakup by Model Type (in Million US$), 2021-2026
Table 4: India: Bancassurance Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 5: India: Bancassurance Market: Competitive Structure
Table 6: India: Bancassurance Market: Key Players

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