What does bank insurance mean?

Bank insurance means that banks, postal services, IMF and other financial institutions cooperate with insurance companies to provide products and services to customers through the same sales channels; Bank insurance is the integration of different financial products and services, which complement each other and develop together. As a new insurance concept, bank insurance embodies the strong cooperation and interaction between banks and insurance companies in financial cooperation.

This method originated in France, and the China market has just started. Compared with the traditional insurance sales method, its biggest feature is that it can achieve "win-win" for customers, banks and insurance companies.

Extended data:

Several ways of bank insurance:

(1) Agreement cooperation means that banks and insurance companies establish cooperative relations and sales alliances through cooperation agreements or informal cooperation intentions.

(2) Joint venture company, a new financial institution jointly established by banks and insurance companies. Combining the advantages of both parties, the new institution operates bank insurance business.

(3) M&A, that is, merging two independent banks and insurance companies through M&A..

(4) the new model, banks set up their own insurance companies or insurance companies set up their own banks. It can be said that bank insurance is a strategy of mutual penetration and integration gradually adopted by insurance companies or banks. It can not only link financial services such as banking and insurance, but also provide insurance-related financial products and services through the integration of customer resources and the enjoyment of sales channels, so as to meet the diversified financial service needs of customers in a comprehensive business form.

References:

Baidu encyclopedia-bank insurance