The Insurance Bank

An insurance bank, often called a bancassurance model, is a partnership between a bank and an insurance company. It allows customers to purchase insurance products directly through their bank, combining banking and insurance services in one place. This setup benefits banks by providing new revenue streams and deepening customer relationships, while insurance companies gain direct access to bank customers. Essentially, it’s a seamless way for individuals to manage their financial and protection needs efficiently, leveraging the bank’s trusted relationship and widespread presence to offer suitable insurance solutions.