Bancassurance – Application and Advantages for the Insurance Market in Bulgaria

In the world practice there is interweaving of various economic activities, including activities in the field of banking and insurance. This fact inevitably raises the question of the relationship and interaction between the insurance companies and the commercial banks. An example of this collaboration over the last three decades is the so-called “bancassurance”. Its main purpose is the possibility of distributing insurance services by the use of the banking network by the insurance companies. In this study an attempt has been made to present the practice of applying bancassurance in Bulgaria and the benefits for customers, commercial banks and insurance companies are derived.