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Bancassurance
(redirected from bankassurers)

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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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Accenture Insurance Solution is used by RSA and other large insurers, as well as by large bankassurers including BBVA and Dexia.
Accenture Unveils Enhanced Technology Solutions to Help Insurers ... by Business Wire
Standard & Poor's views CGU France as well-positioned to compete with both traditional composite insurers and bankassurers, thanks to its multidistribution strategy through tied agents; brokers; a salaried salesforce; and direct-insurance subsidiary Eurofil (not rated), which set up early this year France's first insurance Web site.
S&P Affirms CGU Group's 'AA' Ratings; Outlook Stable by Business Wire
As a result, Standard & Poor's believes that Skandia is constrained as it increasingly competes with banks and bankassurers for a share of the growing Nordic life and savings market.
Skandia's 'A' Financial Strength Rtg Affmd by S&P by Business Wire
 
 
 
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