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1(4), (2022):38-44. DOI: http://doi.org/10.46632/jbab/1/4/6
Santosh Karmani
Bancassurance. A bank and an insurance provider will enter into a “bancassurance” agreement so that the insurance provider can market to the bank’s clients. The insurance provider gains from higher sales and a broader customer base without having to hire more salespeople. The marketing of insurance policies through banks is known as bancassurance. Cooperation between banks and insurance firms allows the bank to market its customers the insurance products of the associated insurance company. The Reserve Bank of India, which oversees the banking system, recognized that it was important for banks to diversify their business models and gave them permission to enter the insurance industry. In order for the insurance provider to market to the bank’s customers, the bank another insurance provider will enter into a “bancassurance” agreement. More sales and a larger customer base benefit the insurance provider without the need to add more salesmen. Bancassurance refers to the sale of insurance products through banks. Banks and insurance companies can promote each other’s insurance products to customers through a partnership between the two parties. Since it was crucial for banks to diversify their business models, the Reserve Bank of India, which regulates the banking system, approved their entry into the insurance sector. GRA (Gray Relational Analysis) Method, Branches, Employees, Private loans, Deposits, Customers, Life insurance premiums Alternatives Deutsche Bank, Kommerz bank, Krediet bank, Volksbanken bank. Branches, Employees, Private loans, Deposits, Customers, and Life insurance premiums. Deutsche Bank, Kommerz bank, Krediet bank, Volksbanken bank. Private loans got the first rank whereas Deposits has the lowest rank.
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