Allfinanz, also known as bancassurance, is the partnership or collaboration between a bank and an insurance company, allowing the insurance company to sell its products to the bank's client base.
Bancassurance (also known as Allfinanz) refers to the combination of traditional banking products with insurance products, such as life assurance and pensions. This practice allows banks to offer a comprehensive range of financial products and services to their customers under one roof.
Economies of scope refer to the increases in efficiency and potential sales that businesses experience when they produce, distribute, and market a range of products rather than focusing on a single product or type of product.
