Multiple choice

A packaged service in which both the banking service and insurance service are made available is called

  1. insurance

  2. bancassurance

  3. assured banking

  4. insurance-cum-banking

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The bank insurance model (BIM), also sometimes known as bancassurance or allfinanz, is the partnership or relationship between a bank and an insurance company, or a single integrated organisation, whereby the insurance company uses the bank sales channel in order to sell insurance products.