The Concept of Bancassurance and a Survey on Attitude of Bank Sales Personnel Towards Insurance Products

The banking industry has undergone major upheaval in recent years, largely due to the lingering recessionary environment and increased regulatory environment. Many banks have failed in the face of such tough environmental conditions. These conditions

The 10 departments are policy areas/centres for the organisation, each tasked with a specific role to help in the achievement of BancABC goals and objectives. All departmental policies are customer centric and at the same time cover areas of risk mitigation without necessarily making decision making too onerous as to be impractical to carry out. This determines how and where resources are channelled in order to achieve the organisation goals which gives a basis for measuring performance at an organisational level. The BancABC structure enables the bank to divide work to allow for effective and efficient delivery of financial products and services by highly skilled and specialised

There are various categories of banking; these include retail banking, directly dealing with small businesses and persons. Commercial and Corporate banking which offers services to medium and large businesses (Koch & MacDonald 2010). Private banking, deals with individuals, offering them one on one service. The last category is investment banking. These help clients to raise capital and often invest in financial markets. Most global banking institutions provide all these services combined. With all these institutions in existence within the same localities and offering similar services, there is a need to regulate the industry so as to protect the consumer and provide fair working environment for all banks (Du & Girma, 2011).

Since the onset of the financial crisis 2008, the sovereign debt crisis in western economies and the new financial regulation with Basel III coming up, the financial industry faces the challenge of reinventing itself. The ring-fence for Commercial and Investment Banking, and new economic and regulatory capital requirements will determine the kinds of products banks will be able to distribute. It will have a huge impact in the Investment Banking business, which will suffer tough regulation and supervisory procedures. At the same time, credit risk models will be reviewed because they have failed to predict the crisis of 2008. The current financial and economic crisis doesn’t have any precedent in the past.

Among the five forces of competition; existing competitive rivalry between suppliers, threat of new market entrants, bargaining power of buyers, power of suppliers and threat of substitute products, the most significant for UnitedHealth Group are threats for substitute products and rivalry among competing firms. Given the fact that there are numerous healthcare insurance firms in the world; there are also a number of substitutes for the corporation products and services. In recent years, the banking industry has become involved in insurance activities. They provide some medical plans, which act as substitutes to the UnitedHealth Group products. Banc assurance, otherwise known as the bank insurance model, is a very common phenomenon in this global world. Banc assurance is an arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank’s client base. This type of partnership can be profitable for both, the bank and the insurance company. Banks can earn additional revenue by selling the insurance products and insurance companies are

The Federal Deposit Insurance Corporation, the institute in charge of regulating commercial banks, became burden with an innovative need to assess the expanding investment activity of the commercial banks. The Federal Deposit Insurance Corporation had previously been assigned the easy task of assessing the commercial banks, within

International Statistics at NationMaster.com, UNHDR. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database. Aggregates compiled by NationMaster." 2003.

A bank is an institution that facilitates financial transactions between the parties. Amongst its standard operations are accepting deposits from the customers, lending money as loan (cite). The major source of income for banks is interest income which is earned on loans given to the customers, business firms and corporations. This very nature of it makes banking institutions so crucial for economic development of any country. Strong banking operations and fundamentals paves the way for higher customer and investor confidence in the company.

Briefly explain, by reference to case law, why it is difficult to define the term “the business of banking”.

My main objective when joining the Bankers Insurance project was to improve the communications between Cardinal Bank and Bankers Insurance. Acting as a liaison between Cardinal Bank and Bankers Insurance, it is my job to ensure that referral information made its way to the appropriate insurance agent. There have been many changes made; including developing direct communication between the referring Cardinal Bank employee and the agents at Bankers Insurance, improved reporting to accurately reflect the results of the partnership, and engaging with sales officers to appropriately discuss the Bankers Insurance opportunity with their clients. With the help of many different Cardinal Bank employees, the Bankers Insurance partnership is slated for success in 2016.

This report compares financial performance of two major banks of UK i.e. HSBC Bank Plc and Barclays Bank Plc on the basis of their Balance sheets and profit and loss accounts for the year 2009. This report also provides SWOT analysis of both banks i.e. HSBC and Barclays Bank Plc and provides an insight into their Banking Strategies.

The report begins with a description of the need, concept and classifications of deposit insurance. It also covers the working of a Deposit Insurance Scheme,along with the various parameters and stakeholders involved.

The third and last pillar of the German banking system consists of commercial banks also known in the third pillar as the market discipline. The third pillar gives out more public disclosure and reporting requirements, compared to the other two pillars, with its increased transparency. The amount of this increased disclosure is for giving the public and also the global market a more comprehensible vision of where the bank stands in terms of risk. (Feig) With Universal banks being the more common type, responsible for about 75 % of all transactions carried out in the banking sector, these banks offer a greater amount of financial services and are more varied than services of the specialized banks. These commercial banks offer typical banking services such as setting up and watching over clients checking and savings accounts, process their payments, lending money to clients, and as well as issuing bonds to clients.

Banking and financial institutions are central to the survival of any economy and are highly regulated due to their intermediation and asset transformation roles. Banks strive to remain profitable and in the process are exposed to risk. Various profitability and risk metrics have been in use to evaluate the performance of banks but the 2007/2008 financial crisis has changed the way stakeholders in the financial industry assess profitability and risk performance of banks.

List of abbreviations List of tables Acknowledgements Abstract 1. 2. 3. 4. 5. 6. 7. 8. Introduction Problem statement Objectives and hypothesis of the study Literature review Structure and performance of the financial sector in