Bancassurance Has Promising Future in Asia

LIMRA/LOMA Host Inaugural Conference to Help Companies Effectively Employ Bancassurance into their Sales Strategy

WINDSOR, Conn., Sept. 7, 2011 — According to LIMRA research, bancassurance is quickly becoming the major distribution channel for life insurance in Asia, fast approaching the currently dominant agency system.

To help companies understand the unique aspects of this distribution model, LIMRA and LOMA will host the first-ever LIMRA/LOMA Bancassurance Conference on Nov. 16-18, 2011 in Bangkok, Thailand.

“Bancassurance is an important distribution channel – especially in emerging markets,” said Gary Aluise, senior vice president and managing director, LIMRA/LOMA International Operations. “According to LIMRA’s research, bancassurance represents as much as 40 percent of all distribution in many Asian and Latin American countries. It is vital that companies understand what it takes to make using this channel profitable and how best to integrate bancassurance into their existing distribution without triggering channel conflict. This conference was created to help senior executives learn best practices and develop a strategic sales plan that includes bancassurance and achieves their business goals.”

The conference theme: “Growing Opportunity into Profitability,” focuses on providing information and ideas to help life insurance industry professionals understand the issues surrounding bancassurance; learn about up-to-date, relevant research; and discover best practices about management, operations and marketing. Attendees will hear from industry leaders and top practitioners, who will share their experiences and knowledge on topics such as product development, sales models, the regulatory environment and building successful partnerships with banking institutions.

‘This conference will not only help those looking to enter the bancassurance market but it will provide valuable insight to those who already use banks to sell their life insurance products and want to expand their footprint or improve the productivity of this channel,” noted Aluise.

About LIMRA

LIMRA is a worldwide research, consulting and professional development organization that helps more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA at www.limra.com.

About LOMA

Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its world-wide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing, and related products and services. To find out more about LOMA and the learning opportunities it offers, visit LOMA’s Web site at www.loma.com.