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Insurance companies are improving cross links

Stock Investment
As with life insurance companies, the domestic non-life insurance companies are actively "shake hands" and take advantage of the network, the potential customer data of the credit institution is used to sell insurance products, especially personal insurance.

It is known that in order to grow revenue and improve service quality in 2015, Bao Minh has signed cooperation agreements with several banks to develop retail sales. For the accident insurance through partnerships with financial companies, BMI has cooperated more with the credit institutions in the distribution of products for years.

In the 2016 business plan, in addition to modify, build new life insurance products through credit institutions, insurance companies are expected to continue to promote the deployment unit to cooperate with the banks like Techcombank, Maritime bank, VP bank and HD bank ... to provide insurance products and find potential clients.

Meanwhile, BIC has taken their advantage in coordination with BIDV by launching several major promotions to attract customers of the Bank. Specifically, the first 400 customers to disburse credit program for housing loans "To Am Binh An 2016" of BIDV, BIC will give insurance product - BIC Binh An for borrowers or customers who are having deposit in the Bank with a deposit balance of 500 million or more and joined the BIDV – Money Together with the cost of 100 million or more, they will get the insurance deposit holder products of BIC.

Customers, who have insurance deposit holder products of BIC, will be protected from many risks, including death or total and permanent disability due to accident; lost savings amount because of fraudulent transactions; lost or missing the passbook along with identification documents used to conduct transactions deposits. The total spending is up to 1 billion...

Besides BIC is promoting its strength, the other insurance companies as MIC, ABIC ..., whose holding companies are banks, are also developing its strength in insurance segment.

Talking to Investment Securities, representstives of non-life insurance companies said that the insurance segment was associated with the credit institution, had a huge potential growth for outstanding loans growing. Moreover, the banks themselves also need to cooperate with the insurer because this cooperation will not only bring high premium revenue sources, but also ensure the affordability of customer loans.

Of course, Although the potential can be seen, how well insurers deploy these products. In addition to the insurance company has the strength of the association with the bank and was designed insurance products for customers in this segment in the market, many insurance companies still get common accident insurance products to apply for credit insurance products.

According to this industry’s experts, the insurance products which are related to the current financial companies, usually do not have too high general indemnity rate (even if only sell accident insurance products, the rate of compensation is still low). However, according to the mechanism of exploiting, insurers must pay the cost for the banks with quite high rates, so the insurance company does not have the strength in which largest shareholder is a bank, this product also provides effective high profits, if they only exploit individual customers.

Of course, the insurer would still like to promote cooperation with financial institutions because of abundant individual customer sources, banks also have large potential customer resources which are large businesses. In addition, in the general trend, the insurance companies are also focused on promoting cooperation with financial companies - financial institutions are well developed of customer base and also potential individuals.
Số lượt đọc:  66  -  Cập nhật lần cuối:  08/06/2016 01:47:34 PM
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