Bancassurance means selling insurance product through
banks. Banks and insurance company come up in a partnership wherein the bank
sells the tied insurance company's insurance products to its clients.
Bancassurance arrangement benefits both the firms.On the
one hand, the bank earns fee amount (non interest income) from the insurance
company apart from the interest income whereas on the other hand, the insurance
firm increases its market reach and customers
Bancassurance, the sale of insurance and pensions
products through a bank, has proved to be an effective distribution channel in
a number of countries in Europe, Latin America, and Asia
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