Bancassurance is now an established and growing channel for insurance distribution across different markets. With the changing demographics as well as the growing Fintech ecosystem, banks are looking to offer more personalized offerings for customers across multiple segments. Banks are essentially looking for a solution which covers the entire journey of an insurance customer acquisition, selling, servicing and relationship manager metrics management.
The Finacle Bancassurance solution helps banks expand their offering of insurance offerings along with the insights on the customer and relationship manager metrics to drive business growth.
Ability to define life, non-life, white labeled, unit linked and loan linked products
Options to tweak premium rule maintenance basis parameters like age, income range etc.
Comprehensive handling for Policy Initiation, renewals and policy Servicing transactions
Calculate & reconcile premium level, policy & bank level commissions
Facilitates transaction & commission reconciliation
Maintains policy updates & premium schedules from Insurer
The bancassurance solution offered by Finacle in partnership with Vymo helps banks expand their insurance offerings. ...
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