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1) Unlike insurance agents, banks may lack sales culture as selling a insurance product is different from insurance product.
2) It is difficult to forecast sales to be recieved from the bank employees.
3) High cost involved in giving an extensive training to bank employees.
4) Incentives need to be given to bank employees to promote insurance product.
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∙ 10y ago
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What is the insurance that bank offer?
it is known as bancassurance
What is a bancassurer?
A bancassurer is an organization operating a bancassurance scheme.
Why bancassurance is important?
The bancassurance is also known as the bank insurance model or BIM. It represents the relationship between a bank and an insurance company and is important in the role of sales.
What can insurance brokers do to counter bancassurance?
wat is bancasuurance & how to counter if an employee of a broker house wants to sell his product.
What are the advantages and disadvantages of public finance?
Difficult in pricing
What is the insurance that bank offer?
it is known as bancassurance
What is a bancassurer?
A bancassurer is an organization operating a bancassurance scheme.
Why bancassurance is important?
The bancassurance is also known as the bank insurance model or BIM. It represents the relationship between a bank and an insurance company and is important in the role of sales.
What is Bancassurance?
The sale of insurance and other similar products through a bank. This can help the consumer in some situations; for example, when a bank requires life insurance for those receiving a mortgage loan, the consumer could purchase the insurance directly from the bank. Some critics feel that bancassurance gives the bank too much control. Bancassurance is not legal in all countries, but it is legal in the United States.
What can insurance brokers do to counter bancassurance?
wat is bancasuurance & how to counter if an employee of a broker house wants to sell his product.
Is bancassurance a good career to choose what are its growth opportunities?
This is a good career if you are good at sales. You are usually selling a combination of products. You can advance to supervisory positions and management.
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