(Answered) : Provide a rationale from a banking perspective for the increasing availability of bancassurance.

Provide a rationale from a banking perspective for the increasing availability of bancassurance.

Expert Answer

As regards to banks, they have face-to-face contact with their customers. They can directly ask them to take a policy. And the banks need not to go anywhere for customers. By providing customers with both the services under one roof, they can improve overall customer satisfaction resulting in higher customer retention levels. This will also lead to increase in return on assets by building fee income through the sale of insurance products.