What does the bancassurance work do?

The main job of bancassurance is to sell insurance products in cooperative banks. Bank insurance refers to the cooperative relationship between banks and insurance companies, in which banks charge insurance companies fees, and insurance companies send bank insurance commissioners to banks to sell insurance products, or bank wealth management managers or account managers sell insurance products on a commission basis.

In the cognition of China citizens, banks are trustworthy and recognized by China citizens. In contrast, China citizens' trust and recognition of insurance companies are low, but insurance is the basic means of risk management under the market economy and plays an important role in a country's financial system.

The content of this article comes from People's Republic of China (PRC) Financial Code: Application Edition by China Law Publishing House.