Bancassurance & affinity
Bancassurance
MNK Re is a market leader in structuring bancassurance products for banks and financial institutions. We believe that one bancassurance product can’t fit the requirements of all banks and hence we create products according to the needs and requirements of the bank. We have different bancassurance products for a bank that has predominantly retail customers compared to banks largely dependent upon large commercial clients, where we can offer corporate bancassurance model.
Bancassurance consulting
We also act as bancassurance consultants and provide banks with a road map after doing a thorough analysis and review of their current operations. The bancassurance roadmap includes structuring bancassurance products tailored to the needs of their customers and align the products to various bancassurance channels.
Bancassurance training
We go as far as to support various banks in their training needs be it training on sales techniques or bancassurance product training.
Key products
- Lifestyle products for bancassurance including death any cause, personal accident, critical illness, etc.
- Income protection products including involuntary loss of employment (also known as redundancy or loss of job insurance), hospital cash benefit, hospitalization benefit, etc.
- Credit protection protects including car loan protection, credit life and mortgage life. Products can include death cover in addition to involuntary loss of employment.
- Credit card enhancement products including extended warranty, purchase protection, travel insurance, involuntary loss of employment, critical illness, collision damage waiver, price protection or price guarantee, etc.
Target customers
Most retail banks and other lending and lease finance institutions who are interested in earning fee income out of bancassurance model.
Geographical area
Worldwide
Affinity & membership
Whether you’re a collection of like-minded individuals or hobbyists, a professional group, or a trade based organisation, MNK Re can help you to unlock the potential in your membership. Our sole focus is to provide the best possible added-value products and services to your members, with bespoke and tailor-made packages for their day-to-day needs, lifestyles and activities.
We offer
- Expert marketing consultancy, advice and guidance
- Including e-distribution and social media campaigns
- Competitive personal and commercial products
- Ancillary products that cater to members’ specific requirements
- MNK’s negotiating power in the insurance market: We can pick one insurer, or a panel, to give you the best covers and rates
Products and services
A selection of the products and services we can offer as part of your membership affinity scheme includes:
- Personal accident & injury insurance
- Travel insurance
- Key insurance
- Pet insurance
- Gadget cover
- High net worth & luxury items insurance
- Legal expenses insurance
- Motor and home insurance
- Lifestyle & shopping discounts benefits
- Discounted car purchase & leasing package
- App based mental health & stress management programme
- Membership data analytics
Benefits
Our membership affinity schemes harness your members’ buying power in a way that works for both them and for your organisation. You can offer your members more for their subscription fee and incentivise new people to join. An insurance scheme, designed exclusively around your members or customers, enhances your own proposition and the confidence they have in you. Your new scheme could also create an additional income stream by introducing a structure that pays commission to you.
Whether your aim is to gain competitive advantage through enhanced member or customer loyalty and increased retention rates, or for potential revenue generation, our dedicated team will work with you to understand your requirements, and your relationships with your members, customers and supporters. We will design and deliver a dynamic, forward thinking and cost effective affinity insurance solution that fits with your organisation seamlessly.
Geographical area
Worldwide
Consumer products
Accident & health
- Cash plans
- Retail schemes and conceptual products
- Credit card AVA – travel & other enhancement products.
- Specialist travel
- Trip cancellation
- Search & rescue and medical evacuation/repatriation
Value added ancillary products
- Motorist protection products – for example collision damage waiver/excess waiver
- Consumer electronics ‘all risk’ insurance
- Premium waiver and other forms of payment protection
- Credit card travel/accident
- ID theft
- ATM theft
- Ticket cancellation
- Home emergency
Geographical area
Worldwide