Agent Banking and Insurance: Is There A Value Alignment?

by Jitendra Balani and Premasis Mukherjee
Jun 29, 2012
1 min

In this Note, we discuss the potential value for stakeholders in a situation where insurance products are offered through agent banking channel.

Agent banking is emerging as the preferred conduit to promote financial inclusion globally. However, an agent banking network can sustain only if there is a value alignment for all the stakeholders in the digital eco-system. In this Note, we discuss the potential value for stakeholders in a situation where insurance products are offered through agent banking channel. We also highlight the challenges that might arise when implementing insurance products on agent banking channels. Despite the stakeholder value alignment, it is evident that insurance inclusion through agents requires careful planning of product, channel and marketing at both insurer as well as the implementing bank level.