Comparative analysis of bancassurance in various countries

Based on the limiting factors the success of bancassurance requires a change in approach, thinking and organizational culture of employees in both banks and insurance companies. What is encouraging, however, is that banks have established long-term relationships with their customers and developed skills in deepening those relationships over time. This fact can help banks to offer their clients additional products and services beyond those in the standard banking offer without major problems and resistance from their side. In the conditions of increasing competition on the insurance market, changed consumer attitudes and technological development, insurance product distribution channels are extremely important for the successful operation of insurance companies. Adapting to market conditions, insurance companies are changing the traditional way of working by accepting new ways of selling. Major changes are taking place in the financial services sector, which are aimed at increasing profits and fighting for the biggest world market.