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Bancassurance Consultants Worldwide Limited (BCWL) is a management consulting firm and has been in business since 2003. Headquartered in London, BCWL consults banks and insurance companies and helps them increase their revenue out of bancassurance business. BCWL provides bespoke solutions and tailors it to the requirement of the customers, be it product development, regulatory or training. Our solutions are available for:
Banks, Building Societies and Other Financial Institutions:
Market Survey and Analysis including Feasibility analysis and Gap analysis for the banks who are already into bancassurance
Assistance in setting up a bancassurance division within the bank if already not doing
Setting up of Insurance Company (subsidiary) on a turn-
Writing policies & procedures for the bancassurance division including working out the process flow
Training on Insurance technicals and bancassurance sales techniques
Product development and integration with banking products to increase sales of core banking products like credit cards, personal loans, consumer loans, mortgage loans, etc.
Robust IT solution and software development to match the pace of increasing number of bancassurance products being launched
Assistance and advise on selecting a suitable partner to start bancassurance
Advise on suitable bancassurance strategy in tune with market and times
Help in preparing Agreement with bancassurance partners
Life Insurance Companies:
Product Development specific to bancassurance including assistance on finding reinsurance support
Help develop structured investment products including Annuity and pension products
Help enter new lines of insurance business, e.g. Personal Accident, Whole Life, Annuity, Mortgage Life, Medical & Health, etc.
Training on bancassurance and help pass compulsory certification / qualification as per local regulation
Guidance on preparing Bancassurance Agreements
Assistance in selecting a suitable bancassurance partner
General Insurance Companies:
Help develop products for various segments of bank, e.g. Credit Cards, Personal Loans, Trade Finance, Corporate Banking, Investment, Mortgage Loans, etc.
Assistance on finding reinsurance support for the bancassurance products
Training on bancassurance
Guidance on preparing Bancassurance Agreements
assistance in selecting a suitable bancassurance partner
BancaTakaful:
Takaful formation, setup and operation
Compliance and regulatory support
assistance in getting a licence from regulators
submissions of application and other supporting documents
continuous engagement and dialogue with regulators till licence is obtained
Rating for insurance companies
Assist insurance companies or bancassurance entities to gain rating from S&P or AM Best
Quality assurance -
Helping bancassurance division or bancassurance company to achieve ISO Certification