Reinsurance Services

Distribution Processes

As life and health insurance evolves and the power of technology reaches new heights, alternative approaches to end customer marketing are constantly unfolding. Our decades of experience place us in a strong position to support channels such as bancassurance and direct marketing. Combined with our appetite for exploring new challenges as they arise, we are in an excellent position to advise and assist clients about existing and emerging avenues.


Banc­assurance products present an excellent oppor­tunity for organi­sations with esta­blished sales forces, trusted brands, and strong client relation­ships to expand their offe­rings and re­venues with tai­lored life and health insu­rance products.

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. Hannover Re is an exceptionally well-experi­enced reinsurer in the field of credit life insurance, where aspects of bancassurance play an important role. But 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 or waiver of regular investments upon death or critical illness.

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.

Our expertise

We are the preferred choice for clients looking for strengthening their bank distribution channel by providing:

  • Global knowledge combined with local experience
  • Flexibility and responsiveness
  • High adaptablitly to client needs and local market practise
  • Accelerated time to market
  • Good rating and financial strength
  • A reliable and innovative partner
  • State of the art technical offering

With banc­assurance-focused opera­tions in many different coun­tries, we are ideally placed to support our clients in deve­loping their busi­nesses both natio­nally and inter­nationally.

Direct marketing

Products sold directly to indivi­duals, without the involve­ment of an adviser, now con­stitute a signi­ficant and fast growing compo­nent within the life and health market. In order for them to be priced and distri­buted compe­titively, such pro­ducts typi­cally combine highly stream­lined or non-existent under­writing pro­cesses with simpli­fied product design and affor­dable pricing.

The traditional channel for such products used to be direct mail. The advent of telemarketing enabled companies to personalise their interaction with the customer whilst email delivered both personalised, relevant content at reduced cost. Direct response television (DRTV) advertising and online sales have now become the standard practice around the world. In Australia and the UK for example, insurance companies partner with affinity groups such as supermarkets or motor clubs – to sell their products to its members e.g. members of a loyalty card. White-labelling of products is common to make use of consumers’ brand loyalty and to expand the value delivered to members by the organisation.

Hannover Re identi­fied the growth poten­tial of direct marke­ting pro­ducts some time ago. We have since posi­tioned our­selves to partner effec­tively with life insurers ven­turing into this market and with distri­bution com­panies lacking spe­cific insu­rance experience.

In each case, our clients benefit from our exten­sive know­ledge and experi­ence with direct marke­ting insu­rance pro­ducts. The knowledge we have gained from our years of market participation and our sizeable inforce portfolios enable us to provide powerful support in terms of product and benefit design, risk pricing, underwriting and reflexive question sets, and claims management.

Our dedi­cated team of direct marke­ting insu­rance specia­lists has a proven ability to partner effec­tively both with life and health insu­rance provi­ders and with firms that have comple­mentary exper­tise and capabi­lities in areas such as adver­tising, online sales and call centre opera­tions.

Our expertise

This has led us to gain market-leading exper­tise in the design and management of robust and compe­titively priced under­writing-free or under­writing-light pro­ducts that offer our clients a valu­able addi­tional re­venue stream and a bene­ficial source of diversi­fication while providing consumers with direct access to insurance products.

We believe direct marke­ting products, and those sold online in parti­cular, will play an increa­singly signi­ficant role in the future.