Making bancassurance work: matching global power to local knowledge

Abstract

Purpose

The paper aims to provide an examination of the concept of bancassurance – the combined selling of insurance and banking products, from the viewpoint of a leading figure within the AEGON Financial Services Group.

Design/methodology/approach

This is a short and accessible account of the concept and history of bancassurance and the principles that AEGON apply to it, to make it successful for them.

Findings

Since it began in the 1980s, bancassurance has had mixed success not only in different markets but among different companies in the same market. The author argues that pursuing a specialised, local approach to bancassurance is the most effective way in maximising its benefits.

Originality/value

The paper provides an interesting insight into bancassurance from the perspective of AEGON Financial Services.

Citation

Norman, L. (2007), "Making bancassurance work: matching global power to local knowledge", International Journal of Bank Marketing, Vol. 25 No. 2, pp. 117-119. https://doi.org/10.1108/02652320710728447