Definitions for bancassurance
ban·cas·sur·ance

WiktionaryRate this definition:1.0 / 1 vote

1. bancassurancenoun

   a banking and insurance structure in which insurance is sold through the bank or the bank's distribution channels

WikipediaRate this definition:0.0 / 0 votes

1. Bancassurance

   Bancassurance is a relationship between a bank and an insurance company that is aimed at offering insurance products or insurance benefits to the bank's customers. In this partnership, bank staff and tellers become the point of sale and point of contact for the customer. Bank staff are advised and supported by the insurance company through wholesale product information, marketing campaigns and sales training. The bank and the insurance company share the commission. Insurance policies are processed and administered by the insurance company. This partnership arrangement can be profitable for both companies. Banks can earn additional revenue by selling the insurance products, while insurance companies are able to expand their customer base without having to expand their sales forces or pay commissions to insurance agents or brokers. Bancassurance has proved to be an effective distribution channel in a number of countries in Europe, Latin America, Asia, and Australia.

WikidataRate this definition:1.0 / 1 vote

1. Bancassurance

   The bank insurance model, also sometimes known as bancassurance, is the partnership or relationship between a bank and an insurance company whereby the insurance company uses the bank sales channel in order to sell insurance products, an arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank's client base. BIM allows the insurance company to maintain smaller direct sales teams as their products are sold through the bank to bank customers by bank staff and employees as well. Bank staff and tellers, rather than an insurance salesperson, become the point of sale and point of contact for the customer. Bank staff are advised and supported by the insurance company through product information, marketing campaigns and sales training. The bank and the insurance company share the commission. Insurance policies are processed and administered by the insurance company. This partnership arrangement can be profitable for both companies. Banks can earn additional revenue by selling the insurance products, while insurance companies are able to expand their customer base without having to expand their sales forces or pay commissions to insurance agents or brokers.

How to pronounce bancassurance?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say bancassurance in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of bancassurance in Chaldean Numerology is: 4

2. Pythagorean Numerology

   The numerical value of bancassurance in Pythagorean Numerology is: 4

Examples of bancassurance in a Sentence

1. Roy Gori:

   Bancassurance is a key aspect of growth and opportunity for us. So we'll continue to pursue that.

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References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Bancassurance
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Bancassurance
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=bancassurance