Lyudmila
Journal Title: Baltic Journal of Economic Studies - Year 2017, Vol 3, Issue 2
Abstract
The article highlights how the cooperation of insurance companies and banks affects the insurance system. Defined the concept of bancassurance, provided a brief description of the main bancassurance models in the context of their impact on the insurance system. Defined the main benefits and risks that accompany cooperation of insurance companies and banks within different models of association. It is noted that despite the generally accepted benefits of cooperation between insurers and banks, financial intermediaries’ unions often carry significant risks. Benefits from the cooperation of insurance companies and banks are disclosed with operational, marketing and financial aspects. The purpose of the article is to study the forms of cooperation between financial intermediaries and their impact on the insurance system. Methodology. The study is based on theoretical methods to study this problem. The theoretical and methodological basis of the study is works of scientists on the models of cooperation between insurers and banks. The dialectical method of cognition as well as such methods as logical generalization, structural and systematic analysis are used to study the methodological foundations of banks’ impact on the insurance companies and insurance system. Results. Banking activity has a significant impact on the insurance system. This impact is noticeable at the micro-level: insurers and banks can be clients of each other as well as they can sign cooperation agreements. A significant positive impact of the bancassurance on the activities of both financial institutions within the synergy that appears during their cooperation is highlighted in the article. Respectively, the insurance company and the bank are experiencing the benefits of cooperation along with savings on fixed, variable costs and obtaining additional profits; simplifying and optimization of the process of collecting and processing information; savings on advertising and marketing research. Value/originality. Despite the numerous works on this subject, such an issue like the impact of insurers and banks cooperation on the insurance system development remain insufficiently studied. The article highlights the impact of the banking system on insurance as from the perspective of their interaction and the factors of direct and indirect influence of banking activities on the insurance system.
Authors and Affiliations
Nataliya Prikazyuk, Ganna Oliynik
Keywords
Related Articles
- EP ID EP635013
- DOI 10.30525/2256-0742/2017-3-2-121-127
- Views 67
- Downloads 0
ECONOMIC EFFICIENCY OF INVESTMENTS INTO PERSONNEL DEVELOPMENT OF ENTERPRISES
The purpose of the article is the research of further improvement of investment process into personnel of the enterprises, using modern methods and tools, which are put into practice, for an increase in resulting economi...
CLASSIFICATION OF TASKS OF DATA MINING AND DATA PROCESSING IN THE ECONOMY
The subject of the paper is methods of classification of data mining and data processing tasks in the economy, as well as their classification characteristics. Methodology. The research used the general scientific method...
IMPACT OF HUMAN RESOURCES' «ENERGY» ON THE DEVELOPMENT OF BUSINESS ENTITIES
The purpose of the paper is to define the impact of human resources’ “energy” on the development of business entities based on the physical concept of kinetic and potential energy. Methodology. Mathematical dependencies...
IMPROVING THE MECHANISM OF COLLECTING CERTAIN TAXES IN UKRAINE AS MEASURES FOR THE EUROPEAN MODERNIZATION: LEGAL ASPECT
The aim of the article is to study the methodological and theoretical principles of improving the legal regulation of the taxation system in Ukraine in the European integration context. Determination of the doctrinal bas...
THE STATUS AND PROSPECTS OF THE ORGANIC AGRICULTURAL PRODUCTS MARKET IN UKRAINE
The modern agricultural market is characterized by an increasing demand for higher quality agricultural products and food. Thus certified organic production was launched in Ukraine, which prohibited the use of chemically...