Bancassurance models do work. (News).(marketing of insurance through banks)(Brief Article)

WHILE BANCASSURANCE HAS been a powerful model in parts of Europe, in other countries such as the UK and Australia, it has, to date, been less successful. Estimates are that in the UK, only about 7% of new life insurance business is sold through bancassurance channels.

In Germany the figure is about 10%.

However, in Spain, bancassurance is dominant.

It accounts for more than 80% of new business sales in the long terms savings market.

In Italy the figure is over 70% and in France around 65%.

From these examples, it is clear tha