Subject The emergence and development of bank insurance in our country as a new and perspective type of joint activity of banks and insurance companies make relevant the study of theoretical aspects of this process organization and its development trends. Objectives The purpose of the paper is to specify the essence and principles of bank insurance organization, disclose the mechanism of its participants' interaction, and reveal advantages, shortcomings, current trends and conditions that are necessary for further development of this process in Russia. Methods A methodological basis of the research rests on general scientific methods of dialectics, analysis, synthesis, induction, deduction, and analogy. To solve analytical problems, we applied special economic methods, like comparison, analytical groups, time series analysis, and the graphic method. We processed statistical information in Microsoft Excel. Results The article describes the essence, principles of organization, the mechanism of interaction of the bank insurance process participants, its merits and demerits. We have identified the current trends and conditions for further development of the Russian bank insurance. Conclusions We conclude that to develop bank insurance in Russia, it is necessary to increase the paying capacity of the population, improve the training and motivation of bank personnel involved in insurance products sales, ensure transparency in the system of accreditation of insurers by banks, introduce tax incentives for development of pension plans and life insurance, increase of level of service and quality of implementation of insurers' liabilities, develop new bank insurance products, and expand the insurance of bank customers that is not related to lending.
Keywords: banking sector, banking risks, bank services, bank insurance, bancassurance, insurance market, insurance services
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