After developing bancassurance channels, which banks use to sell insurance products, the latest buzzword among insurance companies is "shopassurance" - selling insurance through supermarkets and retail chains.
Most policies attached to co-branded cards to lure customers.
Insurance companies are banking in on health insurance, as it promises to be Rs 25,000-cr industry by 2010.
This year, at least eight public sector banks are set to scrap their existing Bancassurance tie-ups with insurers. They are: Bank of India, Union Bank, Karnataka Bank, Allahabad Bank, Indian Overseas Bank, Bank of Maharashtra and Federal Bank.
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