Problems and Prospects of Effective Cooperation Between Banks and Insurance Companies

This work is devoted to the study of cooperation between banks and insurance companies. The purpose of this work is to study the mechanism of interaction between insurance organizations and banks and develop recommendations for its improvement (on the example of JSC "Alfa-Bank"). The following tasks were set in the work: - to study theoretical bases of cooperation of insurance and commercial banks; - to analyze the formulation of the mechanism of interaction of Alfa-Bank JSC with insurance companies; - to identify shortcomings, as well as suggest measures to improve the current mechanism for interaction of insurance organizations with Alfa-Bank; - to formulate problems and prospects of cooperation of banks and insurance companies at the present stage. The choice of the direction of the research is due to the fact that currently there is not a single perfect structure of a financial supermarket in Russia that would meet all the stated requirements. This business model of cooperation between banks and insurance organizations in Russia is still in its infancy. The work consists of 2 chapters. The theoretical chapter fully reveals the main aspects of the study of the topic, theoretical approaches, terminology. In the second chapter, a practical approach to the topic research is proposed. The organization of cooperation between JSC “Alfa-Bank” and the insurance company is considered and the necessity of improving the mechanism of their interaction is substantiated, the methodology of calculation of indicators for the purposes of assessing the financial stability of the insurance company using a weight-and-weight method is demonstrated, and the stages of the development of the project for creating a banking and insurance block financial supermarket and a forecasted evaluation of the effectiveness of the project. The identified recommendations can significantly affect the quality of customer service, as well as improve the competitiveness of the bank.