GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Micro Finance
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Bancassurance
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Investment Banking
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Portfolio Management
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Detailed explanation-1: -Definition: Bancassurance means selling insurance product through banks. Banks and insurance company come up in a partnership wherein the bank sells the tied insurance company’s insurance products to its clients.
Detailed explanation-2: -An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter.
Detailed explanation-3: -In the global market, the major bancassurance examples include European banks such as Crédit Agricole (France), ABN AMRO (Netherlands), BNP Paribas (France), and ING (Netherlands).
Detailed explanation-4: -3 What are the bancassurance services? Life insurance and non-life insurance are the two bancassurance services provided by the insurance companies through banks.