What does Bancassurance mean? Read on to discover the definition & meaning of the term Bancassurance - to help you better understand the language used in insurance policies.
The marketing and sale of insurance products through bank distribution channels. This process allows banks and insurers to locate new customers and create additional products through enhanced distribution channels. As consumer demands become more specialized and financial services companies continue to merge, these types of strategic associations and their resulting products will become more prevalent.
We hope the you have a better understanding of the meaning of Bancassurance.