Bancassurance

Bancassurance is the distribution of insurance products through a bank’s delivery channels, like its branches and mobile banking. The bank partners with Insurance companies to sell their products to its customers. Products sold through the bank include both Life and Non-life/General insurance products including Motor, Fire and Perils, Home insurance, personal accident, children education policies, credit life covers, Keyman assurance.

Benefits

  • Convenience/ one stop shop/ access to a wide range of financial services.
  • Buying of insurance from a trustworthy source.
  • Efficient claims service; Protection of value.
  • Competitively priced insurance products as Insurers pass on cost savings arising from lower distribution costs.
  • Reduced risk to family/ business and increased appetite for credit hence confidence to undertake larger projects of economic value.


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