​What is the best way to enter the bancassurance market? How can banks and life insurers become more integrated and better aligned regarding selling and renumeration? How can the application process be simplified at the point of sale?

Bancassurance Research Studies

At RGA, we have conducted nine bancassurance studies around the world to answer these and other bancassurance questions to help banks and life insurers achieve long-term bancassurance success.

Global Bancassurance Experience

Bancassurance market share varies widely from country to country. Europe has the highest market share, especially in Spain, Portugal, France and Italy. In addition, the bancassurance market is growing in Asia, particularly in Malaysia, Hong Kong, Indonesia and Singapore. Other relatively new players include Korea, China, India and Japan due to recent deregulation in those countries. The U.S. has the lowest bancassurance market share primarily due to regulatory restrictions.

Our global bancassurance experience means we are well-positioned to offer a broad view of bancassurance models, products, distribution channels and pricing, as well as insight about banking and insurance regulatory environments.

e-Underwriting Tools Simplify the Application Process

We also have invested heavily in developing e-Underwriting Solutions that automate and simplify the underwriting process and allow banks to ask fewer and less intrusive questions. In Hong Kong, we recently collaborated with a major bancassurance client to provide a competitively priced simplified-issue product based on only three questions.

Financial Underwriting on Jumbo Cases

Our commitment to simplifying the underwriting process also extends to financial underwriting on jumbo cases, not just medical underwriting. For example, we worked closely with banks in the Hong Kong market to better understand how they conducted financial reviews to assess the financial strength of their clients. As a result, RGA Hong Kong and its banking partners no longer require separate financial reviews in exchange for a letter from the bank that verifies a client’s financial worth and other details. This creates a win-win situation for bank customers, the banks and RGA.

A Global Leader

When you partner with us, you can confidently transfer your mortality risk. With have more than $2.8 trillion of life reinsurance in force, and we manage one of the largest in-force blocks in the life reinsurance industry.

World’s Leading Facultative Underwriter

We are also the world’s leading facultative underwriter reviewing more than 300,000 cases in 2011 and more than 3 million cases since 1979. Our mortality and morbidity databases are among the largest in the world.

To learn more about how we can help you compete more profitably in the bancassurance marketplace, please click on the Global Directory to find the RGA location that is of interest to you.