Selling Life Insurance Products Through Commercial Banks in Terms of Leadership

Our paper focuses on the role of the banking channel in the sales of life insurance products. Life insurance is one of the most dynamically developing types of insurance and is definitely a leading trend nowadays. Within this research, the author graphically demonstrates the development dynamics of life insurance. Our results show that positive dynamics of this type are due to the influence of many factors but according to our findings they are primarily caused by engaging banks as intermediaries in the sale of insurance products, including life insurance products, and by stimulating the financial interest thereof. Moreover, the paper scrutinizes the pros and cons of life insurance product sales through the banking channel because the dominance of these components might determine the future of life insurance products and sales thereof through the banking channel, as well as the development prospects of the life insurance market in Russia as a whole.