Though online purchases of life insurance products have jumped to account for 40.7% of all new policies taken up in the first nine months of 2022, agents still account for the bulk of high-premium policies.
Even with all the challenges the pandemic has thrown at it, the bancassurance sector in India has continued to perform well. We spoke to Max Life Insurance's Mr Varun Gupta, director and national head for Axis Bancassurance Relationship to get his thoughts on some of the trends affecting the sector and what it can do to continue playing a key role in the distribution of life insurance.
For helping its partner insurer maintain its strong growth over the last few years; for transforming its salespersons into insurance and financial products specialists; and for launching initiatives that have helped its partner insurer reach untapped segments and bring more complex products to market.
Great Eastern Holdings' total weighted new sales (TWNS) rose 23% y-o-y to S$1,545.3 million (US$1,172.2 million), according to its financial results for year ended 31 December 2020.
The search for the best of the best in the financial advisory world is on with the launch of the 6th Asia Trusted Life Agents & Advisers Awards 2021.
DBS will hire more than 650 financial planning advisers and with Manulife Singapore, has created a commission-only insurance consultant role that provides both flexible hours and institutional support.
ICICI Prudential Life Insurance and AU Small Finance Bank (AU Bank), a scheduled commercial bank and one of the largest small finance banks in the country, have announced a partnership to offer need and goal-based life insurance solutions.
Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) and Asia Commercial Joint Stock Bank (ACB) have formed a 15-year exclusive bancassurance partnership in Vietnam.
Prudential Vietnam Assurance Private Ltd. ("Prudential Vietnam") and Southeast Asia Commercial Joint Stock Bank ("SeABank" - Vietnam) have further strengthened their strategic partnership by signing a Memorandum of Understanding ("MOU") agreement to distribute digital products.
Manulife Vietnam and Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) have signed an agreement to establish an exclusive 16-year bancassurance partnership to better serve the growing financial and insurance needs of the Vietnamese people.
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