Page 82 - M1_Insurance Introduction Notes

Insurance consultants are usually specialists who

give advice to consumers who wish to buy

insurance products. However, unlike the

brokers, they get paid by the insured for this

advice.

d. BANKING OUTLETS

There has been a trend of using outlets of banks

for distribution of insurance products. The logic

behind this is that, as both banks and insurance

companies target the same segments of

population, using the bank outlets for

distribution of insurance products, it can help in

saving overheads as well as infrastructure costs.

The concept of bank assurance has gained

82