Sampath Bank offers bancassurance

Tuesday, 26 November 2013 00:01 - - {{hitsCtrl.values.hits}}

Sampath Bank, being the pioneer and trendsetter in the Sri Lankan financial industry, is proud to offer bancassurance products with a view to provide tailor-made insurance solutions to the bank’s clientele. The bank has tied up with eight leading insurance companies in the country for the bancassurance partnership to provide motor policies, fire policies, marine policies and loan protection policies.

Bancassurance partners are Sri Lanka Insurance Corporation Ltd., Ceylinco Insurance PLC, Union Assurance PLC, Janashakthi Insurance PLC, AIA Insurance PLC, Asian Alliance Insurance PLC and Allianz Insurance PLC. In addition to the above companies, Amana Takaful PLC will assist the bank in facilitating the customers in the Northern and Eastern Provinces. Sampath Bank functions as the one-stop-shop or point of contact for customers in their insurance requirements. There is no requirement for them to visit the insurance companies, instead they can obtain the insurance policies from the bank’s 210 branches while attending to their banking transactions. The bank provides them the quotations from all companies within one hour and facilitates the customer to select a quality product at a competitive price. The customer can focus on his day-to-day banking with peace of mind while the bank arranges the policy for him with the required covers. Bancassurance in Sri Lankan context is an arrangement between a bank and insurance companies whereby the bank facilitates its customers to obtain insurance. In this process an insurance company employs a minimum sales force. Bancassurance plays a major role in worldwide insurance and dominates several major European markets such as France, Italy, USA, Canada and some areas in Asia. Sampath Bank has embarked on this challenging task of increasing the awareness of the general public on insurance while assisting them in obtaining quality insurance solutions.