Rabobank will work as an insurance broker under the name Rabo Assurantie Makelaardij. As of October, the bank is expanding its insurance services for business customers.
In the current insurance market, it is becoming increasingly difficult to insure specific sectors and risks, says the financial group. According to Rabobank, many insurers are opting for more standardization and less complexity, while for business customers the diversity and complexity of the risks to be insured are increasing.
Rabobank sees opportunities in the field of co-insurance. The bank wants to offer risks that are too large or too complex for one insurer to offer on the so-called co-insurance exchange. In this way, suitable insurers can be found. This gives the opportunity to market not only standard stock exchange policies, but also self-developed policies.
“We see more opportunities in particular for non-life insurance and in specific branches such as the food and meat processing industry, traditionally important customer groups of our cooperative bank,” said Michiel van der Zant, director Insurance and Pension at Rabobank.