Corporate entities represent an insurance company and sell its policies. Usually they are engaged in a particular business and sell insurance policies to their existing customers based on the situation. For example, a travel agent may offer you a travel insurance policy or a vehicle dealer a motor insurance policy.
When a bank becomes the corporate agent of an insurance company it is referred to as a bancassurance arrangement or partnership.
Banks offer insurance policies to their customers based on their knowledge of their situation and needs.
Corporate Agents can represent one life insurer, one non-life insurer and one standalone health insurer. In addition they can represent the two specialised insurance companies, Export Credit Guarantee Corporation and Agriculture Insurance Corporation of India.
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