When a bank becomes the corporate agent of an Insurance company, it is referred to as a __

When a bank becomes the corporate agent of an insurance company, it is referred to as a "Bancassurance."

Bancassurance is a partnership between a bank and an insurance company, where the bank sells the insurance company's products to its customers. This arrangement allows banks to diversify their financial service offering beyond traditional banking products, providing their customers with access to insurance products in a convenient manner, often at a lower cost or with additional benefits such as bundled services. For insurance companies, bancassurance represents a powerful distribution channel, enabling them to reach a wider customer base without the need for a large sales force. This synergy benefits both the bank, by generating additional revenue through commissions, and the insurance company, by increasing its market share efficiently.