Title
Bankoosiguranje - nova mogućnost razvoja sektora finansijskih usluga u Republici Srbiji
Creator
Vojvodić-Miljković, Nevenka M.
Copyright date
2017
Object Links
Select license
Autorstvo-Nekomercijalno-Bez prerade 3.0 Srbija (CC BY-NC-ND 3.0)
License description
Dozvoljavate samo preuzimanje i distribuciju dela, ako/dok se pravilno naznačava ime autora, bez ikakvih promena dela i bez prava komercijalnog korišćenja dela. Ova licenca je najstroža CC licenca. Osnovni opis Licence: http://creativecommons.org/licenses/by-nc-nd/3.0/rs/deed.sr_LATN. Sadržaj ugovora u celini: http://creativecommons.org/licenses/by-nc-nd/3.0/rs/legalcode.sr-Latn
Language
Serbian
Cobiss-ID
Theses Type
Doktorska disertacija
description
Datum odbrane: 09.06.2017.
Other responsibilities
mentor
Petrović, Evica
član komisije
Kočović, Jelena
član komisije
Krstić, Borko
Academic Expertise
Društveno-humanističke nauke
University
Univerzitet u Nišu
Faculty
Ekonomski fakultet
Group
Katedra za nacionalnu ekonomiju i finansije
Alternative title
Bancassurance - new option for development of the financial services sector in the Republic of Serbia
Publisher
[N. M. Vojvodić-Miljković]
Format
[25], 320 lista
description
Biografija [autora]: list 320
description
Finance, banking and insurance
Abstract (en)
Banking and insurance are two inseparably connected components of
the financial services sector. In modern economy, which was
especially evident in the 1990s in the previous century, the model of
integrated cooperation between banks and insurance companies in the
market has been increasingly apparent, and it can be perceived in the
action of providing banking and insurance services simultaneously,
through the model of bancassurance. This type of distribution, in most
cases, implies the creation of specifically created product of life and
non-life insurance specialized to be sold through the network of
banking. Manifestations of bancаssurance are different from country
to country and vary depending on the legal restrictions that apply to
this sales channel. Bancassurance has numerous benefits in the times
when competition at the financial market is at its highest, for banks as
for the insurance companies. Mutual benefits can be seen through:the
increase of sale/profit,expending the client list,maintaining the clients
as well as,improvement of offer through creation of new products
according to client’s structure and needs. Serbian insurance market is
expected to experience growth in the following period, and with it the
competition will like wise increase, as the number of insurance
companies has been in constant growth. There is already a great
competition between a large number of banks in the financial sector.
Everything previously mentioned will condition the inevitable
integration of banks and insurance companies in order to avoid the
loss of clients. Previous results of the implementation of
bancassurance in Republic of Serbia were a consequence of banks’
low interest in the further development of this mode of sale. This was
conditioned by the fact that the structure of their profit was still
dominated by the income based predominantly on interest. On the
other hand, insurance companies base the sale of their product mainly
on the traditional mode of sale. However, in the coming period, in
accordance with global trends, it is expected a significant reduction in
interest margins. This will affect the higher direction of commercial
banks in the Republic of Serbia to the development of those types of
services that will contribute to the increase in income from fees and
commissions. This work is a presentation of the notion, development
of bancassurance, strategy for approaching this mode of product
distribution, distributional modes, operative procedures of
bancassurance, the importance of motivation of bancassurance
partakers, as well as the position of bancassurance in the world –
comparative analysis. This work contains a representation of the legal
acts of the Republic of Serbia as the basis for the introduction of
bancassurance and the current level of its development. On the basis
of facts obtained from research and analyzes conducted, the final
result is displayed bancassurance model in the Republic of Serbia
whose implementation can be concluded the largest number of life
insurance policies (according to world experience), with a significant
reduction in the administrative costs of insurance companies using the
sales network of the bank and its customer base . The application of
the model would imply a long-term benefit for banks, insurance
companies, customers in the form of an integrated supply of financial
services, but also the country as a whole. The development of
bancassurance is closely linked with the growth of the insurance
market. In that sense, this sales channel can become a driving force
for further development of the financial services sector in the
Republic of Serbia, having in mind the broader significance of the
increase in the number of beneficiaries of life insurance brings one
country.
Authors Key words
Bankoosiguranje, bankarstvo, osiguranje, finansijske usluge,
integracija
Authors Key words
Banking, insurance,financial services, integration, bancassurance
Classification
368:336.71(497.11)(043.3)
Subject
S 181
Type
Elektronska teza
Abstract (en)
Banking and insurance are two inseparably connected components of
the financial services sector. In modern economy, which was
especially evident in the 1990s in the previous century, the model of
integrated cooperation between banks and insurance companies in the
market has been increasingly apparent, and it can be perceived in the
action of providing banking and insurance services simultaneously,
through the model of bancassurance. This type of distribution, in most
cases, implies the creation of specifically created product of life and
non-life insurance specialized to be sold through the network of
banking. Manifestations of bancаssurance are different from country
to country and vary depending on the legal restrictions that apply to
this sales channel. Bancassurance has numerous benefits in the times
when competition at the financial market is at its highest, for banks as
for the insurance companies. Mutual benefits can be seen through:the
increase of sale/profit,expending the client list,maintaining the clients
as well as,improvement of offer through creation of new products
according to client’s structure and needs. Serbian insurance market is
expected to experience growth in the following period, and with it the
competition will like wise increase, as the number of insurance
companies has been in constant growth. There is already a great
competition between a large number of banks in the financial sector.
Everything previously mentioned will condition the inevitable
integration of banks and insurance companies in order to avoid the
loss of clients. Previous results of the implementation of
bancassurance in Republic of Serbia were a consequence of banks’
low interest in the further development of this mode of sale. This was
conditioned by the fact that the structure of their profit was still
dominated by the income based predominantly on interest. On the
other hand, insurance companies base the sale of their product mainly
on the traditional mode of sale. However, in the coming period, in
accordance with global trends, it is expected a significant reduction in
interest margins. This will affect the higher direction of commercial
banks in the Republic of Serbia to the development of those types of
services that will contribute to the increase in income from fees and
commissions. This work is a presentation of the notion, development
of bancassurance, strategy for approaching this mode of product
distribution, distributional modes, operative procedures of
bancassurance, the importance of motivation of bancassurance
partakers, as well as the position of bancassurance in the world –
comparative analysis. This work contains a representation of the legal
acts of the Republic of Serbia as the basis for the introduction of
bancassurance and the current level of its development. On the basis
of facts obtained from research and analyzes conducted, the final
result is displayed bancassurance model in the Republic of Serbia
whose implementation can be concluded the largest number of life
insurance policies (according to world experience), with a significant
reduction in the administrative costs of insurance companies using the
sales network of the bank and its customer base . The application of
the model would imply a long-term benefit for banks, insurance
companies, customers in the form of an integrated supply of financial
services, but also the country as a whole. The development of
bancassurance is closely linked with the growth of the insurance
market. In that sense, this sales channel can become a driving force
for further development of the financial services sector in the
Republic of Serbia, having in mind the broader significance of the
increase in the number of beneficiaries of life insurance brings one
country.
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