Open AccessThe mechanism of integration interaction between a bank and an insurance company (for example "Sovcombank Insurance" JSC)
Author(s) -
Marine Selbertovna Оtnyukova,
Andrey Igorevich Smirnov
Publication year - 2021
Publication title -
kant
Language(s) - English
Resource type - Journals
ISSN - 2222-243X
DOI - 10.24923/2222-243x.2021-38.11
Subject(s) - bancassurance , profitability index , consolidation (business) , business , financial services , finance , key person insurance , insurance policy , risk pool
The article examines the theoretical and practical aspects of the integration interaction between an insurance company and a bank. The process of integrating the resources of "Liberty Insurance" JSC by "Sovcombank" Group is analyzed; the causes and consequences are identified. The directions of further development of the established company "Sovcombank Insurance" JSC, aimed at improving the efficiency and profitability of the business, are listed. The main advantage for "Sovcombank Insurance" JSC is the synergy with all the bank's business lines for further development of products and services. For Sovcombank PJSC, it is the consolidation and completion of a large – scale business transformation, turning into a universal bank that provides a full range of services.