Service Quality of Bancassurance Channel in Life Insurance: Overview and Policy Implications for Vietnam Market

Bancassurance is the cooperation or cross-selling between a bank and an insurance company to distribute insurance products to the bank's customers. Bancassurance outperforms traditional marketing channels in saving costs and expanding customer segments thanks to the synergy of financial institutions. Studies have shown the economic benefits this distribution channel brings to banks and insurance companies. However, there still needs to be more research on insurance enterprises' customer benefits and service quality in the underwriting process. Publishing is a recently discussed issue due to the shortcomings of this form. This article aims to review the current status of the Bancassurance distribution channel in the life insurance sector based on an overview of research and experiments in different countries, thereby providing some policy suggestions for insurance businesses in the current context in Vietnam.