Banks have direct access to clients through their banking apps, and are gaining traction in the increasingly competitive insurance arena — though not all at the same pace
Is bancassurance really dead? The notion that banks can sell insurance products through their extensive branch networks became démodé over the past decade or two, especially after the global financial crisis of 14 years ago.
But it seems that local banks just can’t get rid of their appetite for the cash flows that accompany insurance. It’s an odd thing, to be honest. A cursory glance of SA banks and long-term insurers’ interactions over the past decade and a half will leave you confused...
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