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Contents of the strategic partnership process of the commercial bank and insurance company

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 )

Journal: Finance and Credit, #45, 2017

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.


Evaluation of the effectiveness of bancassurance on the basis of modeling of the merger of commercial banks and insurance companies

Ekimov A.V. National Research Ogarev Mordovia State University (MRSU), Saransk, Republic of Mordovia, Russian Federation ( alex-saransk@mail.ru )

Journal: Financial Analytics: Science and Experience, #2, 2019

Subject This article examines the issues of modeling of the merger of Russian companies of banking and insurance sectors to assess the effectiveness of bank insurance.
Objectives The article aims to review the existing models of evaluation of the effectiveness of bank insurance, and develop and test an improved model based on the merger of banking institutions and insurance companies to assess the Risk-Return profile.
Methods The principle of the improved model used for the analysis involves combining the final balance indices of previously independent companies to simulate a hypothetical merger.
Results On the basis of the improved model of evaluation of the effectiveness of bank insurance, two sectors of the financial market were theoretically merged, showing risk reduction and increase in the hypothetically consolidated companies' return on assets (liabilities).
Conclusions and Relevance The results of the simulation made it possible to assess the effectiveness of the bank insurance and showed that integration processes between commercial banks and insurance companies can be considered attractive for both sectors. The development of bank insurance can have a moderate effect of risk reducing and return increasing at the same time. The results of the study can be used in the activities of commercial banks and insurance companies to assess the potential effect of the bank insurance.


Strategic partnership as a factor of enhancing the competitiveness of financial market actors

Ekimov A.V. Ogarev Mordovia State University, Saransk, Republic of Mordovia, Russian Federation ( Alex-saransk@mail.ru )

Gorbunova N.V. Ogarev Mordovia State University, Saransk, Republic of Mordovia, Russian Federation ( GNadezhdaW@yandex.ru )

Novokreshchenova O.A. Ogarev Mordovia State University, Saransk, Republic of Mordovia, Russian Federation nol55@yandex.ru

Journal: Finance and Credit, #35, 2016

Subject The article reviews the approaches to the definition of concepts of strategic partnership, integration, and bancassurance that exist in academic literature, and considers the issue of improving the competitiveness of financial market participants.
Objectives The purpose of the study is to investigate the competitiveness enhancement of financial market actors, define competitive advantages derived by commercial banks and insurance companies from strategic partnership.
Methods To substantiate theoretical tenets, we employ critical analysis, abstract-logical and comparative methods. The paper rests on the analysis of works of leading domestic and foreign economists.
Results The paper provides different approaches to the classification of factors ensuring the competitive ability, the structure of internal and external factors of competitiveness of financial institutions. It also considers the evolution of the theory of strategic partnership, highlights its main characteristics, underpins the importance of strategic partnership among financial market actors. Furthermore, it overviews approaches to the bancassurance concept and identifies competitive advantages of commercial banks and insurance companies from their partnership.
Conclusions Strategic partnership enables to enhance the competitiveness of financial institutions, to efficiently manage capital and cash flows, to minimize costs and maximize revenues and mobilize sufficient financial resources to achieve strategic objectives of financial institutions development.


The concept of bancassurance and trends in the development of bank insurance in Russia

Salimova T.A. National Research Mordovia State University, Saransk, Republic of Mordovia, Russian Federation ( tasalimova@yandex.ru )

Ekimov A.V. National Research Mordovia State University, Saransk, Republic of Mordovia, Russian Federation ( alex-saransk@mail.ru )

Journal: Financial Analytics: Science and Experience, #36, 2016

Importance The research analyzes the evolution and approaches to defining the concept of bancassurance, substance of integration processes between commercial banks and insurance companies. We conduct a retrospective analysis of the bancassurance development in the Russian Federation.
Objectives The research specifies the substance of bancassurance, traces back its evolution and identifies current trends in bancassurance development in the Russian Federation.
Methods We examined the applied aspects of integration processes between banks and insurance companies relying upon tools of analysis, assessment of the bancassurance market development trends in the Russian Federation, and economic and statistical methods. The information framework comprises data of the Central Bank of the Russian Federation, Federal State Statistics Service, Expert RA Rating Agency, materials of national and foreign sources on the bancassurance development issues.
Results We determined steps of integration processes between commercial banks and insurance companies and formulated our own definition of bancassurance, indicating its main characteristics. The article also provides a retrospective analysis of the cooperation between the Russian banks and insurance companies, indicated the current trends in the development of bancassurance in Russia.
Conclusions and Relevance The article reports on key trends in the development of bancassurance in the Russian Federation, which should be identified in order to substantiate the effective strategy for cooperation of those financial institutions in the market of financial services, legislative, regulatory and macroeconomic guidance of those processes by governmental bodies so to protect interests of consumers of financial services. The results can be practicable for commercial banks and insurance companies to reach operational synergy, which may lead to increased income and reduced expenses.


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