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What is Insurance
What is Bancassurance
Advantages of Bancassurance-
Win-Win situation for banker
and insurer
Principles of Insurance.
FINANCIAL PROTECTION
AGAINST A LOSS ARISING OUT
OF AN UNCERTAIN EVENT
Insurance
It is a contract between 2 parties
where 1 party agrees to undertake a
risk in exchange of a consideration
known as premium and promises to
pay a fixed sum of money to the other
party on the occurrence of a uncertain
event or expiry of a certain period.
Categorized into two broad
categories: Life insurance and General
insurance
Parties in Insurance
Parties to Bancassurance
Insurer Bank insured
Eg-Oriental Punjab National Customer
Insurance Bank
company
Limited
Role of RBI & IRDA