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Does Bancassurance help the bank to grow profitably?
yes because by hitting the target or the branch quota the bank earned from its annual service fee, and it is a must that a Bancassurance must explained all the projected benefits in terms of fund investment that it is not guaranteed but it depends in a market performance .That’s why we need to evaluate the clients risk appetite or clients profile either conservative type, moderately conservative or aggressive for you to identify the needs as a base of selling to tailor fit the suggested investment that the client to avail. But first explain all the charges and the benefits of getting the products. By doing all the process I doubt if the bank will not achieved its profitability. Customer satisfaction must be meet for us to gain more clients and build relationship between the bancassurance as the representative in the company and clients. So thats how we maintain relationship and value for the company. So when you satisfied the customer the more referal the sales you get the more the bank earned its ANNUAL SERVICE FEE.