HomeBusiness DigestFBC bancassurance: full value to insurers

FBC bancassurance: full value to insurers

“BANCASSURANCE covers a wide range of detailed arrangements between banks and insurance companies, but in all cases it includes the provision of insurance and banking products or services from the same sources or to the same customer base,” said Yiannis Violar

is, EuroLife, Nicosia (Cyprus).

FBC Bancassurance prides itself in strength, diversity and service. FBC Bank has partnered leading insurers on its bancassurance products to ensure security and an efficient service to customers. The wide FBC Bank branch network guarantees reach to customers in all parts of the country.

Products on offer are motor insurance, covering commercial and motor , home plan insurance, travel insurance, business insurance and loans and overdraft protection cover.

The bancassurance products are available to both FBC Bank and non-bank customers. Customer service officers in all branches are well-trained to advise on the best insurance portfolios as well as underwriting the policies.

FBC Bank is very clear of its customers’ requirements, particularly this June renewal — very competitive rates, tailor-made premium payments through monthly debit orders, fast turnaround of documentation, best insurance advice, and a one-stop shop for all your financial requirements.

Through FBC’s wide branch network the service is nearer to you and this reduces the time spent seeking for insurance as the bank values your time greatly.

Bancassurance at FBC Bank doesn’t end with effecting cover but stretches beyond to the core reason for getting insured which is the claim processing. Its claims are settled easily and efficiently with no hassles. All FBC Bank requires is the completed claim form, quotations, police report and driver’s licence in the case of a motor claim, and the claim is speedily processed.

As clients would be aware, the high inflation which is being experienced in Zimbabwe’s economy has resulted in a substantial increase in the replacement cost of all property.

It is therefore important that the sum insured under one’s policy represents the current replacement value of the property. All claim settlements are subject to “averaging” such that if you one is underinsured they will bear a proportion of the loss.

The most important consideration when it comes to policy renewals is to ensure that the property is properly valued and that the sum insured represents the true market value. It is also advisable for policyholders to seek the services of professional valuers to carry out valuations on their assets before renewing their policies. — Own Correspondent.

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