Bancassurance
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Mayank Goyal
Definition: Bancassurance means selling insurance product through banks. Banks and insurance company come up in a partnership wherein the bank sells the tied insurance company’s insurance products to its clients. Description: Bancassurance arrangement benefits both the firms. On the one hand, the bank earns fee amount (non interest income) from the insurance company apart from the interest income whereas on the other hand, the insurance firm increases its market reach and customers. The bank acts as an intermediary, helping insurance firm reach its target customer in order to increase its market share.
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Arpit Surana
UmangGarg wrote:What is non interest income and interest income?
Sent from my Redmi 4 using
Actuarial Info mobile appNon-Interest income is the income earned not by investing or vaheging some fixed percentage to others. Example profit through selling of goods, etc.
On the other hand, interest income is the income earned through investing or some percentage.
Most of the income earned by bank is interest income (such as interest earned on giving loans), so its important to distinguish between the two.
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