Bancassurance Consultants Worldwide Ltd.

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Success of Bancassurance depends on the right mix of strategy and channel management. More bancassurance experiments have failed than succeeded due to strategic mismatch. Large customer base and a plethora of products necessarily does not bring volume on the table. CEOs have often wondered and scratched their head trying to figure out the reasons behind the sluggish development of bancassurance.
At Bancassurance Consultants Worldwide Limited (BCWL), we have the necessary know-how and experience to make it work. We have consultants who have domain knowledge in bancassurance and who have actually been bankers and insurers themselves.

We help you gain a head start and achieve sustained growth in bancassurance. We also stand by you in the implementation process and ensure that proper channel management strategy and implementation actually delivers and helps you achieve the target. Bancassurance Consultants Worldwide Limited (BCWL) supports Banks and Insurance Companies in their pursuit for excellence. We support our clients at every stage of their business cycle and hand-hold them till the very end to ensure that efforts and resources invested actually fructifies. We provide open architecture product development platform. You decide which product or combination of products fits into the requirements of a particular segment of your client base. If you are not sure, talk to us. We have specialists who have been bankers themselves and would be happy to assist you.

CONSULTING


- Setting up bancassurance agency / department for the bank
- setting up a subsidiary or JV insurance company
- Bancassurance set up restructuring
- Restructuring of insurance company
- Takaful formation, setup and operation
- Compliance and regulatory support
- Rating for insurance companies
- Quality assurance - ISO certification support

                                                                           
                                                                              
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PRODUCT DESIGN


- Tailor-made and bespoke bancassurance products  
- Target oriented bancassurance products
- Product enhancements
- Products linked to Bank's Assets as well as Liability portfolio
- Reinsurance support
- Sharia compliant products
- Investnment and unit linked products
- Annuity and Pension products                                             

                                                                      
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BANCASSURANCE TRAINING


- Knowledge management
- Product specific training
- Agent certification courses for regulatory purposes
- Training on insurance and bancassurance technical topics
- Segment oriented training, e.g. marine, fire, motor, etc.
- Sales technique training
- Motivational training
                                                                         

                                                                           
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CHANNEL MANAGEMENT


- Product distribution management
- Reward management including incentive structure
- Balance score card
- Managing product-distribution fit
- Process flow management including P&P
- Bank-Insurance integration
- Sales support & management
                                                               

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World Bancassurance Update
AIA?s full-year net profit rises on China business
AIA Group Ltd.'s full-year profit rose 22%, lifted by surprisingly strong growth in China. AIA is the only wholly foreign-owned insurer in China, where it reported the highest growth among its operating other markets, posting 55% surge in new-business value last year, a measure of insurers' ...
AIA, Pru among bidders for DBS's $1.5 billion distribution deal - sources
AIA Group Ltd (1299.HK), Prudential plc (PRU.L) and Manulife Financial Corp (MFC.TO) are among firms shortlisted to become the insurance partner of Singapore's DBS in a bank distribution deal worth around $1.5 billion (988 million), people familiar with the matter said. DBS's (DBSM.SI) banc...
Krungthai-AXA reshuffles top management for stronger distribution, eyes second p...
Krungthai-AXA Life Insurance has restructured its senior management to strengthen its distribution capabilities and prepare for future strategic challenges.
Apollo Munich expects to cross Rs 1,000 crore GWP next fiscal year
Apollo Munich Health Insurance Company, a joint venture between Apollo Hospitals Group and Germany-based Munich Re's healthcare business Munich Health, is expecting its Gross Written Premium to cross Rs 1,000 crore next fiscal year.
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Reliance Life Insurance is of the view that only when banks are mandated to become insurance brokers will there be an open architecture in bancassurance.
KSA, UAE largest Gulf insurance markets with nearly 80% gross written premium
Regional and international bancassurance and insurance experts have gathered in Dubai Monday to discuss the impact of changing regulations, market trends and projections on driving profitability in the Middle East?s bancassurance sector. Banassurance, whereby insurance companies and banks collaborat...
Bancassurance in the Asia-Pacific Region: Strategies of the Region's Top 150...
In the Asia-Pacific bancassurance market, MetLife has the most relationships of any type with the 150 of the region's top banking groups but AXA has the most joint ventures, and Allianz and Prudential the most strategic, long-term partnerships (excluding joint ventures).
`Bancassurance open architecture would grow insurance penetration'
Chennai, Feb 9 (IANS) Allowing Indian banks to sell life insurance policies under "open architecture" or freeing banks to sell products of more than one life insurer, would increase insurance penetration as in the case of several countries, said a senior official of Nippon Life Insurance. ...
AIA, Pru among bidders for DBS's $1.5 bln distribution deal-sources
AIA Group Ltd, Prudential plc and Manulife Financial Corp are among firms shortlisted to become the insurance partner of Singapore's DBS in a bank distribution deal worth around $1.5 billion, people familiar with the matter said. DBS's bancassurance deal, under which it will distribute produ...
SG Ghana launches Bancassurance products
Ghanaians are being offered yet another innovative and convenient banking service through Societe Generale Ghana?s new insurance partnership with Allianz Insurance Company Limited, to provide two Bancassurance products.
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