Question

According to the new bancassurance guidelines banks can tie up with a maximum of ____ insurers. (1) 5 (2) 3 (3) 9 (4) 10 (5) 7

Answer 1

Answer:

The "new bancassurance guidelines" promotes the banks to tie up with a "maximum of 9 insurers".

Bancassurance is referred to as "selling of insurance" through a bank. In this case, selling of insurance means the "distribution of insurance" and "other financial products" of insurance companies through banks. Under this model, banks act as a "major distribution channel" for insurers which in return helps to gain profit from various alternatives. This type of model has been originated in France and soon spread to other European countries. In India, many insurers have "already tied up" with banks under the bancassurance model.

Answer 2

Explanation:

• According to the new bank assurance guidelines banks can tied up with the maximum of 9 insurers.

• Bank assurance sometimes also known as bank assurance, has a relationship between partnership or a bank and insurance company, or a single unified organization, under which insurance company sells insurance products.

• The bank uses the sales channel, is the arrangement in that “a bank and an insurance” company have so much that the “insurance company” can sell its products to any other customer base of the bank.