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Bancassurance |
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Bancassurance Insurance provided by a bank. For example, a bank could offer life insurance in addition to its savings, loan, and investment services. Proponents argue that bancassurance can streamline internal and government regulations. For example, a bank offering a mortgage may require borrowers to buy homeowners insurance; if bancassurance is available, the borrower could purchase a policy directly from the bank without needing to shop around. However, bancassurance is somewhat controversial; critics contend that allowing banks to sell insurance gives them too much control over the financial services sector. As a result, some countries prohibit it. The United States has allowed it since the passage of the Gramm-Leach-Bliley Act. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| It will focus on direct-marketing support for affinity partners using distribution methods such as direct mail, telemarketing and bancassurance. Distribution channels for its products include captive agencies, brokers and bancassurance through the more than 100 branches of Banco del Trabajo, which is one of Peru's largest banks and is owned by Grupo Altas Cumbres. In mid-May, ING Capital Life also started selling two bancassurance products through Bank of Beijing's 118 branches. |
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