Bharti Axa inks Bancassurance tie-up

[Expert]

What is Bancassurance?

Bancassurance means selling of insurance products by banks. In this arrangement, insurance companies and banks undergo a tie-up, thereby allowing banks to sell the insurance products to its customers. This is a system in which a bank has a corporate agency with one insurance company to sell its products.

[Xbox]

The Bank Insurance Model (BIM), also sometimes known as Bancassurance, is the term used to describe the partnership or relationship between a bank and an insurance company whereby the insurance company uses the bank sales channel in order to sell insurance products.

Source - wikipedia.org

[srikanth11]

The Bancassurance generally defines the partnership between a insurance company and a bank. The customers in the bank are more benefited through the insurance policies. Bharti Axa Life Insurance made tie up with many of the private sector bank and offers more policies and benefits when compared to other insurance companies.