Bancassurance to net 35% income share: Study

Bancassurance is likely to generate approximately 35% of private insurers' premium income by 2008, according to an analysis of the country's bancassurance sector by Watson Wyatt Worldwide, leading global insurance consulting firm.

Nearly 90% of the interviewed life insurers are expecting an increase of over 75% in new business premium income for the current financial year from the bancassurance channel.

Two-thirds of the respondents surveyed believe that integrating the bancassurance operations with the banks' retail business can have the greatest impact on the banks' bancassurance strategy.