HEC - Assurances - Sommaire du numéro de janvier 2001

Bancassurance is a world financial movement that is gradually breaking down the traditional barriers between banking and insurance sectors. Although its diversity and flexibility, the Canadian financial sector is strongly regulated and each pillar of the Canadian financial sector remains closely concentrated on its traditional activities, particularly in the banking sector. The author describes the Canadian and Quebec financial services sectors, which are made up of banks, insurance companies, trust and loan companies, deposit institutions, securities dealers and exchanges, financial intermediaries as well as independent financial consultants and other institutions or pension fund management programs. The financial services sector largely contributes to Canada’s economic growth, with over half a million Canadian employees in 2000 and a yearly payroll of about $24 billion. The financial services sector represented over 5 per cent of Canada’s gross domestic product in 2000 and contributed approximately $9 billion in taxes. He also briefly describes the new federal reform with respect to the financial services sector and comments on the bill 107 creating a single window for the consumers in the Quebec financial institutions sector.

Keywords : Bancassurance, Canadian and Quebec financial services, federal reform, Quebec financial institutions reform.

Les phénomènes de convergence sectorielle expliqués par la théorie des ressources: application à l’analyse de la bancassurance en France
par Bertrand Venard

The success of banks in the insurance field is an important element of the French economy. The Bancassurance phenomenon is a good example of sectorial convergence between banks and insurance companies. In using the resource-based theory, the purpose of the article is to highlight the key resources and their potential combinations in order to build competitive advantage.

Keywords : Resource-based theory, strategy, bancassurance, service management, sectorial convergence.

L’e-bancassurance : entre opportunités et contraintes
par Bertrand Venard

One of the originalities of the French insurance market is the importance of bancassurance. In the 80s, French banks penetrated the insurance market. Their success can be seen by their current market share of 50%. After investing in bancassurance, the economic agents started to develop in electronic commerce. The word e-bancassurance could be used to describe the sectorial convergence between banks and insurance companies through the electronic market. Being only at its beginning, it is already possible to assess the various constraints and opportunities of e-bancassurance.

Keywords : Bancassurance, electronic commerce, e-commerce, insurance, service management.

Quelles perspectives pour la bancassurance "à la française" ?
par Jérôme Cornu

Across Europe, sales of insurance products via banking channels are rising significantly. Without exception, every country on the European continent has seen the percentage of insurance products distributed by financial institutions reach very high levels. This percentage is the highest in France, where it concerns the sale of life insurance products in particular: financial institutions currently account for more than 60 percent of total life insurance premium payments. Up to now, the sale of property-casualty products via banking channels has been relatively limited. But the example of the personal protection product (GAV – garantie des accidents de la vie) developed by the French insurance industry in early 2000 demonstrates that, with a simple product and a broad-based and highly effective sales force, banks can compete in the non-life insurance market as well. The outlook for bancassurance in France is dependent not only on factors that influence the insurance industry in general – such as the role of the government, demographic trends and the future completion of Europe – but also on factors that characterize the French market in particular. For example, bancassurance à la française means the total integration of insurance into the bank’s other lines of business, which is not the case in English-speaking countries. Banks in France achieve this high degree of integration by establishing special-purpose subsidiaries dedicated to insurance rather than by putting otherwise separate banking and insurance divisions side by side. A French bancassurance model does indeed exist, and is in the process of being exported to Southern Europe.

Keywords : French bancassurance, life insurance, general insurance, global integration.

La "caissassurance" Desjardins: un modèle d'affaires exclusif
par Camille Fortier

The author explains the exclusive business plan in relation with the «caissassurance Desjardins» where the role of financial security advisory service is defined.

Keywords : "Caissassurance" Desjardins, business plan, financial security advisory service.

LA CONSOLIDATION DES ORGANISMES AMÉRICAINS DE MANAGED CARE
par Daniel Simonet

This article shed a light on consolidation of Managed Care Organizations in the U.S. The factors conducive to this wave of mergers and acquisitions are described along with the reactions, often hostiles, from both physicians and patients. Authorities intervened on that market in order to prevent market distortion and anticompetitive behaviors. What were then the response of care providers and the consequences of consolidation on market structure.

Keywords: HMO, managed care, horizontal integration.

LES DÉTERMINANTS DU COMPORTEMENT DES BANQUES CANADIENNES EN MATIÈRE DE CAPITALISATION : LA TITRISATION
par Rachid Aqdim, Georges Dionne et Tarek Harchaoui

Securitization is one of the more prominent developments to emerge in international finance over the past twenty years and one of the most sophisticated tools of modern finance. The main goal of this study is to examine the statistical link between securitization and risk-based capital ratios. Our results show that securitization activity causes a decline in both Tier 1 and Total risk-based capital ratios. This suggests that the risk of securitization is inefficiently taken into account in capital ratios or under-estimated by banks managers.

Keywords : Securitization, capital ratio, statistical analysis, Basel Accord, bank regulation.

JEL classification: G18, G21, G28.

RETHINKING INSURANCE DISPUTES
by Ani M. Abdalyan

All stakeholders in the insurance industry appreciate the critical importance of alternate dispute resolution ("ADR") to the resolution of insurance disputes. What follows is a practical and in-depth analysis of negotiation, mediation, and arbitration as these dispute resolution methods relate to insurance. The author weaves in confidentiality, privilege, and ethics with a view to enhancing the effectiveness and efficiency of ADR in insurance disputes. This analysis serves as a foundation tool for ADR practitioners in the insurance industry and for future thoughts to follow.

Keywords: Insurance disputes, confidentiality, privilege, ethics, alternate dispute resolution.

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	Last updated: 03-02-07 Assurances Journal, revue.assurances@hec.ca © HEC Montréal, 2003. All rights reserved.	HEC Montréal Assurances Journal