Having insurance is now easier than ever. By partnering with banks, some insurance companies can provide insurance products tailored to the needs of bank customers.
The partnership between banks and insurance companies is called bancassurance. Let’s find out what benefits you can get from applying for insurance via a bank below!
What is Bancassurance?
Bancassurance is a partnership between banks and insurance companies to meet customer protection needs. There are several business models in bancassurance, where banks can act as referrers only or as marketers (Telemarketing/product integration). In the referral in branch business model, the role of the bank is only as a referrer, while the explanation of the product and after-sales service is the responsibility of the insurance company.
What are the Benefits of Bancassurance?
At the branch office, bank staff will help you identify your protection needs and if you agree, you will be introduced to an insurance marketer (Bancassurance Life Consultant/Financial Advisor).
Insurance marketers will help you determine your protection needs, recommend products and coverage that suits your needs, explain the full benefits, costs and risks of the products according to the illustration, and assist with the insurance application process. Furthermore, marketers are also ready to handle all your needs about the insurance policy you buy.
With this consultation session and after-sales service, it will certainly make it easier for you to get products and services that suit your needs.
As a bank that is always by your side, BCA works with several insurance companies, namely AIA to fulfill the needs of life protection, health, education, pension, BCA Life for life insurance and BCA Insurance for protection of various assets and travel insurance.
So, you can find all your insurance needs at BCA, "one stop shopping". Check out the bancassurance products that suits your needs here.