Category Banking

Final results of 2007 Bancassurance Survey

26 June 2007 RGA

RGA Reinsurance Company of South Africa, the only dedicated life reinsurer in South Africa, in conjunction with Carmen Effron have released the final results of the 2007 Bancassurance Survey, entitled 'Bridging the Cultural Divide Between Banks and Insurers'. The study explored the cultural and perceptual issues that divide banks and insurers in an effort to help define a more robust common culture.

The final findings document can be downloaded in PDF format from the RGA Reinsurance Company of South Africa website by visiting:

Or you can download it directly from:" target=_blank

Note: The size of the document is 14.6MB

The survey utilised a statistical "gap analysis" technique to quantify identified issues, using hard evidence to uncover and explore the qualitative issues that banks and insurers will need to tackle in order to achieve success in the bancassurance market. Survey questions encompassed traditional life insurance, living benefits cover and coupon-type execution-only products, such as credit life, funeral and hospital cash.

The study concurrently examined the bank and insurer's views and opinions about insurance distribution, marketing and sales, product design, administration and operations, effectiveness, as well as risk and profitability.

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