Challenges
Bancassurance is a key growth strategy for the insurance business. This strategy helps insurance companies reach a wider customer base, build credibility, and increase distribution channels. Bancassurance has a bright future and plays an important role in driving the growth of the insurance business.Â
Our clients aim to achieve rapid business growth and seek a qualified vendor to implement the integrations between their systems and those of their partner banks in a robust and secure manner.
Our Solution
Stream IT Consulting has successfully provided Bancassurance solutions for several of our insurance clients. We develop the solutions through focused teams of highly skilled and experienced professionals well versed in modern technology with domain knowledge in the insurance and banking industries.Â
Key features of Bancassurance solutions by Stream:
- Product development: Through application integrations, Stream implementation enables our Clients to offer Bancassurance through their partner banks to offer new products to meet the changing needs of customers
- Secure: The solution meets the security standards of both the insurance clients and the banksÂ
- Technology: The integrations are provided by robust and secure APIs developed by Stream based on the latest open tech stack
For one of our clients, we develop the solution to integrate with various partner banks including Kasikorn Bank, Siam Commercial Bank, Bangkok Bank, and TISCO Bank, to effectively offer and service insurance products to bank customers.Â
We have also successfully integrated with TMBThanachart Bank for another insurance client. We have worked on bank integrations with the insurance client through bank mergers for the client to accelerate growth and reach a wider market.
Key Achievements
The Bancassurance strategy has allowed our clients to reach new customers, expand its customer base, and increase revenue.
Stream is committed to support our Clients on Bancassurance for sustainable growth, making it another strong growth channel for the insurance business.
