Bancassurance is booming

Bancassurance has become, in a short time, a major distribution driver for life insurers that usually prefer their traditional brokers’ network. The premiums volume accounted for by bancassurance has reached 4.63 billion USD last year compared to 1.97 billion USD for brokers. It is a leap of 73.8% compared to 2009. Bancassurance revenues rose by 123% in one year for Samsung Life, by 167% for Korea Life and by 67% for Kyobo Life.