Bancassurance

Currently bancaasurance words may already be familiar in the ears of most people, unlike in 1998, when the world was shocked by the merger of Citicorp and Travelers Group to build a new entity named Citigroup offering financial services product range ever before. Knowingly or not Citigroup's primary business is the Bancassurance.

Banks can no longer expect a profit from lending as a conventional business fields, but must actively develop new sources of revenue, namely by increasing fee-based income. Cooperation or synergy sell insurance products in the special package is part of the fee based income contribution increased. While on the other hand life insurance companies also face obstacles in the sales market penetration insurance policy to the public.

Insurance industry has long seen the potential and opportunities, but have difficulty in expanding the absence of a positive response from the bank. The economic crisis that hit Indonesia some time ago to make this change conditions that promote and increase awareness of the parties to work together in order to utilize the potential of developing Bancassurance business that has not managed optimally.