Calculators

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Bancassurance at ADIC

ADIC Retail is a unit dedicated to driving the sales of ADIC products within the Diamond Bank Group. The development of new products and the administration of insurance services to cater for the needs of the Group’s clients are key objectives of this.


Our main objectives include but are not limited to the following:

  • To aid the success of Bancassurance by serving as a central point and help desk where Diamond Bank employees and customers can direct all insurance related enquiries and issues.
  • To develop new products in anticipation of customers’ needs.
  • To drive our insurance products nationwide by leveraging on the optimal utilization of Diamond Bank’s retail banking distribution channels.
  • To enhance our customer data base.
  • To drive the implementation of our software application (Sirius) within the Group and therefore introduce the concept of underwriting agents.

Bancassurance is the provision of Insurance and Banking products and services through a common distribution channel or network (Bank Channels) to both existing and potential customers.

It entails a wide range of detailed arrangement between Banks and Insurance Companies.


BANCASSURANCE PRODUCTS WE OFFER

1. STAND ALONE PRODUCTS (Are not tied to any loans)

- Marine Insurance

- Motor Insurance (Private, Commercial, Motor Trade, etc)

- Life Insurance

- Fire Insurance

- Burglary Insurance

- GIT

- Plant all Risk

- Bonds (APG, Performance Bond etc)


2. BUNDLED PRODUCTS

These are Insurance products that are sold along with consumer or commercial loans and comprise of;
- Laptop Loan (All Risk Insurance)

- Auto Loan (Motor Insurance)

- Diamond Mortgages (Fire and Life Insurance)

- Personal Loan (Life Insurance)

- Other Loans (Marine, Fire, Burglary, GIT, as the case may be)

 

Benefits to the customer

Bancassurance allows an individual the convenience of obtaining both banking and insurance products from the bank at the same time. For those consumers who prefer the “brick and mortar” approach, they can easily walk into any of their bank’s network of branches and receive personal advice from the sales staff. Some banks also offer more than one insurer’s product which means that the customers will have more choices.

 
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