What does Convergence mean? Read on to discover the definition & meaning of the term Convergence - to help you better understand the language used in insurance policies.
(1) In the financial services industry, the coming together of credit institutions and insurance companies to develop products that combine the elements of each industry sector. (2) Concurrent movements of the capital and insurance markets creating structured derivative securities from event risk cash flows and using customized insurance contracts as hedges to diversify financial portfolios heretofore managed by derivative securities.
We hope the you have a better understanding of the meaning of Convergence.