Economics and Business Management

At the present stage of financial market development, the needs of individual clients are constantly growing. Competition in the market of traditional services between banks, as well as between banks and non-banking institutions is intensifying. With this in mind, banks must constantly work to diversify their sources of income, develop and develop new services for the banking system; as a result, there are products of cooperation such as bancassurance. However, the level of their development is quite low, which requires appropriate research and generalization of their results in order to develop appropriate recommendations to improve the efficiency and further development of this type of cooperation. The article examines the emergence of the concept of bancassurance, as a relatively new type of interaction between banks and insurance companies. The formation of the type of cooperation in Ukraine took place during three main stages. The main advantages of bancassurance singled out separately for insurance companies, for banks and for the clients themselves - consumers of financial services. An analysis made in terms of five banks in the Ukrainian financial market, and the most relevant insurance products they offer and with which companies work closely selected. The study found that in the insurance market of Ukraine, the dynamics of net insurance premiums and payments tends to increase. Insurance companies through the sale of services in banking institutions receive about a third of income. For the purpose of generalization, a SWOT analysis of bancassurance presented, with a clear identification of advantages, disadvantages and opportunities for further development in the Ukrainian financial market

bancassurance; banking institution; insurance company