GCC Bancassurance Market Research and Upcoming Forecast Report
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Report Description and Highlights Report Description GCC Bancassurance Market Outlook 2026:
According to the latest report by IMARC Group, titled “GCC Bancassurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the GCC bancassurance market reached a value of US$ 3.25 Billion in 2021. Bancassurance refers to the agreement between a bank and insurance firm to allow the sale of financial products and insurance services through banking institutions. In this agreement, banks encourage their customers to buy insurance policies, which benefits both the bank and the insurance company, thereby lowering the overall costs involved. This setup allows the sale of various insurance products to consumers, such as mortgages, annuities, and health and life insurance. At present, bancassurance solutions are generally divided into integrated and nonintegrated models. Request for a PDF sample of this report: https:// www.imarcgroup.com/gcc-bancassurance-market/requestsample
Report Description and Highlights
Report Description
GCC Bancassurance Market Trends:
The market in the GCC region is primarily driven by the growing banking, financial, services and insurance (BFSI) sector. Besides this, the collaboration between banks and insurance firms serves as a one-stop solution for numerous financial requirements of the customers and offers enhanced convenience to them. This is further supported by the rising geriatric population in the region, which is increasing the need for retirement plans, as well as life and health insurance policies. In addition, numerous banks and insurance companies are engaging in strategic alliances and partnerships in order to expand their presence in the local markets, which is further contributing to the market growth. They are also adopting advanced technologies to strengthen their information technology (IT) base to offer superior customer services demanded by an increasingly sophisticated client base. Moreover, regional governments are providing favorable regulations and frameworks for bancassurance activities to create awareness among consumers, which is anticipated to propel the market growth further. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5.50% during the forecast period (2022-2027).
Report Description and Highlights
Report Description Key Market Segmentation: Breakup by Product Type: •Life Bancassurance •Non-Life Bancassurance
Breakup by Model Type: •Pure Distributor •Exclusive Partnership •Financial Holding •Joint Venture
Note: We are updating our research report 2021-2026. If you want to need latest primary and secondary data with Cost Module, Business Strategy, Distribution Channel, etc
Report Description and Highlights
Report Description Breakup by Country: •Saudi Arabia •UAE •Qatar •Oman •Kuwait •Bahrain
View Report TOC, Figures and Tables: https://www.imarcgroup.com/gcc-bancassurance-market
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Report Description and Highlights
Report Description
© 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.
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