The "bancassurance" concept has brought a significant change in the financial sector for the last years. The term describes the sales process of insurance products through the network of commercial banks and financial institutions. The purpose is to create competitive life insurance programs at an advantageous price and high quality services for individuals, customers of financial institutions.
Alico continuously aims to reach closer to the uncovered market potential. Besides distributing insurance through the network of internal and external (brokers) agents, the company focuses on agreements with banks or other financial institutions. Alico may be proud of a history of collaborations and results on this segment even since 2002.
The relationship with these partners involves adapting to the partner's specific requirements to secure an efficient use of the latter's organizational resources. A banking officer has a different approach of the customer's needs than a life insurance consultant and the promoted insurance products must be completely standardized to allow the officer to be efficient when presenting them. Alico pays considerable attention to these aspects which makes us particularly successful in such collaborations.