The Bancassurance Model

The "bancassurance" concept refers to insurance products distributed through banks and non-banking financial institutions. Being in the situation to choose from a multitude of sophisticated financial products, the customer prefers a one-stop-shop, the so-called "financial supermarket", which offers both banking products, as well as insurance products. The advantages for the final customer are related to the transparency and simplicity of these products, the efficiency and the personalized advice.

The history of the bancassurance partnerships started for BNP Paribas Cardif at the beginning of the 70's, by selling insurance products through the intermediary of its own bank network and of other financial institutions.