Hannover Re’s clients benefit from our unique knowledge and capabilities as a reinsurer of bancassurance products. Our experience covers a huge range of insurance products distributed via financial institutions in many different countries around the world. This combination of detailed local market knowledge and experience with global insight and capabilities through the Hannover Re organisation gives us a truly exceptional perspective on this growing and evolving market.
Bancassurance is multi-faceted. For example, Hannover Re is an exceptionally well-experienced reinsurer in the field of credit life insurance, where aspects of bancassurance play an important role. Our expertise extends far beyond traditional life and health insurance. We create tailored insurance covers to be packaged with financial products. Examples include: life insurance and disability protection for unit linked products, coverage of bank deposit and savings accounts, waiver of regular investments upon death or critical illness, and products such as universal life plans.
Automated underwriting solutions play a key role in modern sales processes, improving overall process efficiency as well as the risk profile of new business. hr | ReFlex is our life risk assessment tool, an eco-system combining state of the art functionality with exceptional flexibility and ease of use. hr | ReFlex can be quickly and conveniently integrated into bancassurers’ own systems and fully configured to reflect local market conditions - resulting in better and faster risk selection and underwriting, and significant process efficiency gains. Subsequent cost savings will further increase sales.
As an established player in the bancassurance market, our clients appreciate not only our expert guidance and support, but also our speed, responsiveness, and flexibility. We are always looking for new ways of applying our market-leading expertise to develop innovative solutions that help our partners fully benefit from emerging opportunities in the bancassurance market.
With bancassurance-focused operations in many different countries, we are ideally placed to support our clients in developing their businesses both nationally and internationally.