IJMIE Volume 4, Issue 1 ISSN: 2249-0558 ____________________________________________________ A Monthly Double-Blind Peer Reviewed Refereed Open Access International e-Journal - Included in the International Serial Directories Indexed & Listed at: Ulrich's Periodicals Directory ©, U.S.A., Open J-Gage as well as in Cabell’s Directories of Publishing Opportunities, U.S.A. International Journal of Management, IT and Engineering http://www.ijmra.us 282 January 2014 BANCASSURANCE IN ZIMBABWE - THE SCRAMBLE FOR STRATEGIC ALLIANCES, THREATS AND OPPORTUNITIES FOR INSURANCE BROKERS Story Masiyiwa  ABSTRACT This study explored the development of bancassurance in Zimbabwe and the survival challenges and opportunities it presents to insurance brokers. Insurance and banking institutions in Zimbabwe are entering into strategic alliances (bancassurance) in an effort diversify their income streams against the backdrop of a liquidity crisis in the economy. One of such strategies is the formation of strategic alliances between banks and insurance companies Previous studies have considered the driving forces and benefits of bancassurance but not its survival challenges to insurance brokers. This study revealed that although the bancassurance threat is real, insurance brokers wield vast expertise on insurance and risk management which they must leverage on to counter the threat and supplement their income. Key words Bancassurance, strategic alliance, insurance broker, short term insurer, insurance  Lecturer, Department of Insurance & Risk Management, Midlands State University, Gweru, Zimbabwe