Salimova T.A.National Research Ogarev Mordovia State University (MRSU), Saransk, Republic of Mordovia, Russian Federation tasalimova@yandex.ru
Ekimov A.V.National Research Ogarev Mordovia State University (MRSU), Saransk, Republic of Mordovia, Russian Federation alex-saransk@mail.ru
Importance This article examines the existing approaches in the scientific literature to the definitions of Bancassurance and Strategic Partnership and identifies relationships between these categories. The article also reviews the contents of the strategic partnership process of the commercial bank and insurance company. Objectives The article aims to clarify the content of Bancassurance in the context of strategic partnerships and develop a process of strategic partnership of a commercial bank and insurance company. Methods The work uses the methods of logical generalization and critical analyses, methods of scientific abstraction and functional analysis, as well as the comparative methods of scientific research. Results The article accentuate four main approaches to the term definition of Bancassurance. It investigates the peculiarities of the process of strategic partnership of the bank and insurer and presents a developed detailed scheme of the strategic partnership process. Conclusions and Relevance Using the strategic partnership process will ensure the implementation of an effective overall strategic partnership strategy of the considered institutions. The research results can be used in the activity of commercial banks and insurance companies in the formation of a strategic partnership.
Keywords: Bancassurance, strategic partnership, integration, commercial bank, insurance company
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