Question

Bancassurance is:

A An insurance scheme to insure bank deposits Correct Answer Incorrect Answer
B An insurance scheme exclusively for bank employees Correct Answer Incorrect Answer
C A composite financial service offering both bank and insurance products Correct Answer Incorrect Answer
D A bank deposit scheme exclusively for employees of insurance companies Correct Answer Incorrect Answer

Solution

• Bancassurance is an arrangement between a bank and an insurance company allowing the insurance company to sell its products to the bank's client base. • This partnership arrangement can be profitable for both companies. • Banks earn additional revenue by selling insurance products, and insurance companies expand their customer bases without increasing their sales force.  

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