Bangladesh, Nov. 1 -- The insurance regulator is making one of its biggest changes in the existing selling system of insurance products aiming to deepen penetration of the same.
The system called bancassurance is a partnership arrangement between commercial banks and life insurers. This partnership arrangement can benefit both the banks and insurers.
Banks can earn additional revenue by selling insurance products while insurance companies can expand their customer base without increasing their sales force and only by paying commissions.
"Yes, we have been working hard to reform the selling system of insurance products that will boost the insurance penetration in the country," Gokul Chand Das, a member of Insurance Development and Regulat...