Functioning of Bancassurance in Selected Countries in Which the Financial Group Erste Group Bank Operates
Functioning of Bancassurance in Selected Countries in Which the Financial Group Erste Group Bank Operates

Author(s): Lenka Přečková
Subject(s): Supranational / Global Economy, Business Economy / Management, Financial Markets
Published by: Masarykova univerzita nakladatelství
Keywords: financial group; insurance group; bancassurance; assurfinance;
Summary/Abstract: This paper shall evaluate the level of internal integration among bancassurance products and financial institutions belonging to the financial group Erste Group Bank AG in selected countries of Europe. There shall be selected six countries which are located in Central and Eastern Europe: the Czech Republic, Slovak Republic, Hungary, Romania, Croatia and Serbia. These are the countries in which a strategic partnership agreement between the Vienna Insurance Group and the Erste Group Bank was concluded in 2008 which shall be taken into consideration in the evaluation. The research was conducted as of February 1, 2016. This paper aims at determining whether similarities in how the financial group Erste Group Bank is organized also mean similarities in how bancassurance in the selected countries functions. To make this possible, a critical analysis of bancassurance-related literature shall be conducted and a hypothetical basis for the practical evaluation shall be formulated. Characteristics for evaluation of the level of integration inside the financial group and also a banc-assurance product shall be also set. To evaluate how bancassurance functions in practice, a qualitative research based on data available on web sites and also financial and annual reports shall be used. The qualitative research shall contain a detailed analysis, sorting and a comparison of the set characteristics. Finally, it will be determined which attributes are identical and which are different in the integration of financial groups and bancassurance products.

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