BANCASSURANCE CONCEPT FROM THE PERSPECTIVE OF MONTENEGRIN MARKET
Integrated services of financial institutions contribute to the quality and development of financial markets. The collaboration of banks and insurance companies through the bancassurance model, as the distribution channel of insurance products, results in reduction of business risk and costs of mar...
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| Format: | Article |
| Language: | English |
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Faculty of Economics, University of Tuzla
2015-11-01
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| Series: | Economic Review |
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| Online Access: | http://er.ef.untz.ba/index.php/er/article/view/137 |
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| _version_ | 1823861283474112512 |
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| author | Miljana Novovic Buric Vladimir Kascelan Vladimir Kascelan |
| author_facet | Miljana Novovic Buric Vladimir Kascelan Vladimir Kascelan |
| author_sort | Miljana Novovic Buric |
| collection | DOAJ |
| description |
Integrated services of financial institutions contribute to the quality and development of financial markets. The collaboration of banks and insurance companies through the bancassurance model, as the distribution channel of insurance products, results in reduction of business risk and costs of market research and achieves better profitability and other mutual benefits which have a positive effect on the performance of the insurance and financial markets. More specifically, the effective implementation of bancassurance provides benefits to banks, insurance companies, and to their customers. Although bancassurance has development perspective on the Montenegrin market, the paper will prove that adequate education and motivation of employees in the banking sector, as well as the adequate demand for this type of financial services, are necessary for its successful implementation. The purpose of this paper is to show the current trend of banks entering the insurance market in Montenegro and to point out the perspective and development problems of bancassurance in Montenegro.
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| format | Article |
| id | doaj-art-bbf732df237443cd973295283ddb67ab |
| institution | Kabale University |
| issn | 1512-8962 2303-680X |
| language | English |
| publishDate | 2015-11-01 |
| publisher | Faculty of Economics, University of Tuzla |
| record_format | Article |
| series | Economic Review |
| spelling | doaj-art-bbf732df237443cd973295283ddb67ab2025-02-10T00:31:15ZengFaculty of Economics, University of TuzlaEconomic Review1512-89622303-680X2015-11-01132BANCASSURANCE CONCEPT FROM THE PERSPECTIVE OF MONTENEGRIN MARKETMiljana Novovic Buric0Vladimir Kascelan1Vladimir Kascelan2University of Montenegro, Faculty of Economics PodgoricaUniversity of Montenegro, Faculty of Economics PodgoricaUniversity of Montenegro, Faculty of Economics Podgorica Integrated services of financial institutions contribute to the quality and development of financial markets. The collaboration of banks and insurance companies through the bancassurance model, as the distribution channel of insurance products, results in reduction of business risk and costs of market research and achieves better profitability and other mutual benefits which have a positive effect on the performance of the insurance and financial markets. More specifically, the effective implementation of bancassurance provides benefits to banks, insurance companies, and to their customers. Although bancassurance has development perspective on the Montenegrin market, the paper will prove that adequate education and motivation of employees in the banking sector, as well as the adequate demand for this type of financial services, are necessary for its successful implementation. The purpose of this paper is to show the current trend of banks entering the insurance market in Montenegro and to point out the perspective and development problems of bancassurance in Montenegro. http://er.ef.untz.ba/index.php/er/article/view/137financial servicesbanksinsurance sales channelsbancassuaranceinsurance market |
| spellingShingle | Miljana Novovic Buric Vladimir Kascelan Vladimir Kascelan BANCASSURANCE CONCEPT FROM THE PERSPECTIVE OF MONTENEGRIN MARKET Economic Review financial services banks insurance sales channels bancassuarance insurance market |
| title | BANCASSURANCE CONCEPT FROM THE PERSPECTIVE OF MONTENEGRIN MARKET |
| title_full | BANCASSURANCE CONCEPT FROM THE PERSPECTIVE OF MONTENEGRIN MARKET |
| title_fullStr | BANCASSURANCE CONCEPT FROM THE PERSPECTIVE OF MONTENEGRIN MARKET |
| title_full_unstemmed | BANCASSURANCE CONCEPT FROM THE PERSPECTIVE OF MONTENEGRIN MARKET |
| title_short | BANCASSURANCE CONCEPT FROM THE PERSPECTIVE OF MONTENEGRIN MARKET |
| title_sort | bancassurance concept from the perspective of montenegrin market |
| topic | financial services banks insurance sales channels bancassuarance insurance market |
| url | http://er.ef.untz.ba/index.php/er/article/view/137 |
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