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Banking Term: Bancassurance

Find important banking term that is useful in upcoming banking exam.

Feb 24, 2015 15:31 IST
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  • Banks are now selling different financial products to enlarge their scope of activities and also to increase their earning capacity.
  • Selling of insurance products across bank counters describes the term bancassurance.
  • Banks are favourably placed because of their large customer base and the trust of their clients.
  • Insurance companies want to utilize this largely captive customer's poul of banks and, their close understanding of the each customer s financial needs.
  • Banks are paid fees by the insurance companies for selling their policies.

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