Having spent a good chunk of my professional career in the Insurance sector I was always struck in recent years by how little coverage there was of bancassurance in the UK. A major distribution channel for most insurers elsewhere in the world, to the extent that they all talked about the great deals they'd signed up to with banks elsewhere, it rarely seemed to get a mention in their UK reporting.
Search "bancassurance UK" on Google and the first hit you get is from 1996! So does this Aviva-HSBC tie-up herald a new coming for the concept in the UK? Do consumers actually care? Or more pointedly, how will banks and insurers sell the value of such deals to their customers?
Aviva signs 10-year distribution deal with HSBC