The word bancassurance stands for sales of insurance products through banks. The Glass-Steagall Act has legalised the participation of banks in insurance business.
Posted: Mon Jun 08, 2009 01:19 pm Post Subject:
Hey chockalingamsona..
Bank assurance is about selling both insurance as well as banking products using a common channel. There could be bank branches that sell insurance alongside banking products. This happens due to the fact that banks have large customer databases and the sales synergies emerge out of dynamic plans that aim such databases.
Insurance sales have become a reliable profit source for the banks today. The operational costs get lowered for banks as they use the same infrastructure that they use to sell other banking products.
I'm sure this would help you get a clearer picture. Do you have any other queries regarding this? Roddick
Posted: Sun Dec 19, 2010 07:06 am Post Subject: bancassurance
to know what is bancassurance & its detail i.e it's importance,feature,advantages,benifits,need for insurance or bank to enter into bancassurane,types ....
Posted: Mon Jun 08, 2009 09:38 am Post Subject:
the meaning of bancassurance and its detail
The word bancassurance stands for sales of insurance products through banks. The Glass-Steagall Act has legalised the participation of banks in insurance business.
Posted: Mon Jun 08, 2009 01:19 pm Post Subject:
Hey chockalingamsona..
Bank assurance is about selling both insurance as well as banking products using a common channel. There could be bank branches that sell insurance alongside banking products. This happens due to the fact that banks have large customer databases and the sales synergies emerge out of dynamic plans that aim such databases.
Insurance sales have become a reliable profit source for the banks today. The operational costs get lowered for banks as they use the same infrastructure that they use to sell other banking products.
I'm sure this would help you get a clearer picture. Do you have any other queries regarding this? Roddick
Posted: Sun Dec 19, 2010 07:06 am Post Subject: bancassurance
to know what is bancassurance & its detail i.e it's importance,feature,advantages,benifits,need for insurance or bank to enter into bancassurane,types ....
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