Zmiana struktury przychodów banków i ubezpieczycieli na rynku bancassurance w kontekście wdrażania i funkcjonowania Rekomendacji U w latach 2012–2024
Changes in the structure of revenues of banks and insurers on the bancassurance market in the context of the implementation and functioning of Recommendation U in the years 2012–2024

Summary/Abstract: Bancassurance, or the offering of insurance products through bank distribution networks, is a very important element of the functioning of the financial market. The key issue in this respect is ensuring appropriate standards, appropriate product quality, pricing policy and security for customers of banks and insurance companies. In the past, these elements did not go hand in hand, which is why the KNF (Poland Financial Supervision) decided to introduce a regulation to organize the market. Recommendation U in its first wording was adopted in 2014 and then updated, in 2023. The impulse for introducing the regulation was the desire to improve the quality of products and the transparency of the process of offering insurance services in banks channel. The aim of this article is to analyze changes in the rev- enue structure of banks and insurers on the bancassurance market in the context of the implementation and functioning of Recommendation U (in this update) in the years 2012–2024. It is a continuation of a series of publications that appeared in “Wiadomości Ubezpieczeniowe” in the years 2013–2014. The article therefore serves as a kind of bracket linking the issues of bancassurance from a theoreti- cal, regulatory, and practical perspective. The regulations, in the authors’ opinion, have significantly affected the bancassurance channel – contributing on the one hand to the decrease in insurers’ writ- ten premiums and, in parallel, to the improvement of the quality and safety of services. The analysis also revealed clear differences and changes in banks’ strategies: some have developed this channel as a source of non-interest income, others have significantly limited it. These changes confirm the po- larization of approaches and the evolution of bancassurance towards more transparent and integrated sales models.

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