New models in insurance-bank collaborations

Cooperation models (bancassurance) between insurance companies and banks in Türkiye are entering a new phase. New models focused on digital integration and data sharing have been developed.

New Collaboration Models

Beyond the traditional bancassurance model:

• API integration: Instant policy issuance via bank applications
• Data-based product recommendation: Automatic insurance recommendation based on customer profile
• Open banking: Data sharing models with PSD2 compatibility
• Embedded insurance: Insurance solutions integrated into credit and card products

Market Size

The Bancassurance channel accounts for 18% of Türkiye's insurance premium production. New models are aimed to increase this rate to 25%.

Successful Examples

Garanti BBVA-Eureko and İş Bankası-Anadolu Sigorta collaborations set an example for the sector in digital integration.

Competitive Dynamics

With fintech companies entering insurance distribution, it has become imperative for bank-insurance partnerships to become more innovative and customer-focused.