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.
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He also added that the key success factors for bankassurance were their compensation methods and sales processes.
Global Banking News-27 January 2010-EIB introduces new bankassurance cover(C)2010 ENPublishing - http://www.
UAE-based Emirates Islamic Bank (EIB), considered to be one of the leading financial institutions in the region, has introduced a new bankassurance cover in alliance with AMAN Insurance Co.
Some of the largest Life Insurance companies worldwide have implemented xpertBridge to support various channels including Independent Agents, Broker Dealers, Bankassurance, Tele-underwriting and Direct.
Bankassurance products will contribute to future fee growth.
The bankassurance business performance should benefit from the joint venture with the Bital Bank, one of the largest Mexican banks in terms of number of branches.
Their response will also determine whether bankassurance is the model that can help overcome the anemic profitability of the German banks' domestic retail activities, which continues to suffer from intense competition, excessive capacity and too high a cost base," Mr Zlotnik said.
Martin B0ge Mikkelsen, Senior Vice President from Tryg-Baltica, is project responsible for the development of Nordea bankassurance concept in Finland based on Tryg-Baltica's very positive experiences in the competitive Danish environment.
Herman Agneessens, member of the Executive Committee of KBC Bankassurance Holding, Mr.
In addition, Standard & Poor's believes that, in the Nordic region, Skandia is constrained by its limited access to bankassurance distribution channels.