BACKGROUND

Bancassurance has made its way across the world as an increasingly important distribution channel within the global insurance industry, holding an ever higher penetration rate within many regional markets. Bancassurance continues to take a central role in the strategy of a large number of banks in Kenya today. Insurance products distributed through the banking channel appear as the natural choice for mass-market clients looking for simple and low-cost products available from a trusted financial institution. Despite this favourable dynamics, new technological innovations coupled with the challenges of the digital era are expected to put significant pressure in this channel over the coming years. Bancassurance has been cited as one of the factors that have largely contributed to increased insurance penetration. A better understanding of this concept is necessary by all the interested parties so as to strategize on maximizing the benefits arising there from.

COURSE OBJECTIVES

• To provide participants with essential knowledge and understanding of the concept of bancassurance and how it operates.
• To learn the basics of banking and insurance and their inter-relation.
• To understand the legislative and regulatory framework.
• To acquire the skills for selling bancassurance products.
• To acquire the skill to analyze customer’s financial position. 

COURSE CONTENTS

• Bancassurance: Introduction
•       Origin and History
•       Meaning- Concept, Scope
•       Interrelationship between banking and insurance activities
• How Bancassurance Works
• Bancassurance Models
• Bancassurance Products
• Distribution Channels
•       Overview of various distribution channels
•       Licensing requirements
•       Insurance intermediaries (brokers, agents) concerns.
• Benefits of Bancassurance to:
•       The customer
•       Insurance companies
•       Banks
•       General public
• Regulatory Frame work
• Future of Bancassurance
• Bancassurance Challenges

TARGET GROUP

• Officers in Underwriting Departments
• Marketing officers in Insurance Companies and Banks
• Middle level officers of a life office
• Offices for which job rotation is planned.
• Officers in non-insurance, organization handling insurance and related matters.

 

Cost: 25,000.00

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How to apply

All candidates must follow the application steps where they provide their details and select units. An invoice will be sent to the email address of the applicant with payment instructions.

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