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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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| The service will distribute and administer both conventional and Takaful insurance products and will be available for use by insurance providers, bancassurers, brokers and affinity groups. Other 'winners' will also be the bancassurers who have already broadened risk based approaches developed for Basel II to their insurance operations. With the opportunities for growth in its domestic market more or less exhausted, KBC Bank, one of BeIgium's and the CEE region's largest bancassurers and asset managers, has successfully looked to other markets, particularly the CEE region, for revenue generation opportunities. |
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