Why Choose an Insurance Company Instead of Bancassurance?

Buying insurance often starts with price.
But choosing the right insurance is remembered at the moment of claim, not at the moment of purchase.

In North Cyprus, many people are offered insurance through banks. It feels convenient, fast, and sometimes cheaper. However, the real test of insurance does not happen when the policy is issued.
It happens when something goes wrong.

This article explains why, especially at claim time, working directly with an insurance company such as Can Sigorta offers a fundamentally stronger experience than bancassurance.

What Is Bancassurance?

Bancassurance is the sale of insurance products through banks.

At first glance, it appears practical:

• One place for banking and insurance

• Simple purchase process

• Competitive pricing

But there is an important structural reality:

A bank is not an insurer.

Insurance is not the bank’s core business.
It is an additional product.

This distinction becomes critical during a claim.

A Claim Is Not a Financial Transaction

A claim is not just paperwork.

A claim is:

• Stress

• Time pressure

• Uncertainty

• Emotional impact

At that moment, customers need:

• Clear communication

• One responsible contact

• Local action

• Continuous follow-up

Banks are optimized for financial transactions.
Claims, however, are operational and human processes.

This is why bancassurance models often struggle at claim time.

The Biggest Issue: Who Do You Call?

After a loss, the most important question is simple:

“Who is responsible for me now?”

With bancassurance, the answer is often unclear:

• The bank branch?

• A call center?

• The insurance company behind the policy?

This uncertainty increases stress and delays solutions.

With a direct insurance company, responsibility is clear.
There is one accountable party.

Claims Require Local Expertise

Claims are not solved only behind desks.

Motor claims involve:

• Repair garages

• Towing services

• Loss adjusters

Property and business claims involve:

• On-site inspections

• Local contractors

• Stock and asset evaluations

These require local knowledge and fast decision-making.

Insurance companies are built for this.
Banks are not.

For a Bank, a Claim Is a Cost

For an Insurance Company, a Claim Is a Responsibility

This difference matters.

For a bank, a claim is often:

• An operational burden

• A cost center

• A process to be transferred elsewhere

For an insurance company, a claim is:

• The core of the profession

• A test of trust

• A defining moment of reputation

This mindset shapes the entire customer experience.

How Can Sigorta Makes the Difference

At Can Sigorta, insurance does not end when the policy is issued.
It starts when a claim occurs.

During a claim:

• There is a clear point of contact

• The process is actively managed

• Local teams are involved

• Communication is transparent

• Customers are not left alone

Because insurance is not a product.
It is a service that accompanies people when they need it most.

What Customers Often Say After a Claim

Many clients who experience claims through bancassurance later say:

“I wish I had arranged my insurance directly with an insurance company.”

This is not about price.
It is about support, clarity, and not feeling alone.

Final Thoughts: Insurance Is Not a Banking Add-On

Bancassurance can look attractive on paper.
But insurance is not a paper product.

Its real value appears:

• During uncertainty

• During stress

• During loss

Insurance must be accessible, accountable, and human.

That is why, especially in North Cyprus, choosing a dedicated insurance company like Can Sigorta makes a meaningful difference when it matters most.