over my 14 years in the financial industry, i've literally seen the market share of weighted new life business by the tied channel falling substantially from a near monopoly (when i first joined promiseland independent) to just 48% as at end of the second quarter of 2011.*
*http://www.lia.org.sg/node/2754
today,it seems that more consumers are turning to bancassurance with 34% of sales and the fa channel taking another 13% with direct sales making up the remaining 5%.
why does the bancassurance channel command such a high share of the new life business market?
perhaps it may be due to the fact that most of us have a relationship with a bank or several banks and therefore, our banks (both local and foreign) have a big share of our business which is not just confined to plain vanilla savings and deposits.
and for the fa channel, we have ......
over my 14 years in the financial industry, i've literally seen the market share of weighted new life business by the tied channel falling substantially from a near monopoly (when i first joined promiseland independent) to just 48% as at end of the second quarter of 2011.*
*http://www.lia.org.sg/node/2754
today,it seems that more consumers are turning to bancassurance with 34% of sales and the fa channel taking another 13% with direct sales making up the remaining 5%.
why does the bancassurance channel command such a high share of the new life business market?
perhaps it may be due to the fact that most of us have a relationship with a bank or several banks and therefore, our banks (both local and foreign) have a big share of our business which is not just confined to plain vanilla savings and deposits.
and for the fa channel, we have ......
