Hello all,
Can any one please explain me the process and guidelines that will be followed when two insurance firms are syndicated. i.e, For ex: If Aviva is syndicated with Barclays, so that if any customer comes to Barclays to take some loan they may also refer that they can take a protection on this loan from aviva and hence barclays can process the application as if it was processed by aviva..
so I believe this entire process is called as syndication..There is not much written in any of the forums about this syndication, but can anyone please put some information you knew or some links about how the syndication is executed between two firms, what are the benefits, pros and cons etc..
Thanks for your patience

Think of it as like outsourcing - the direct provider to the consumer gains a fee, while the insurer or lender takes the risk, though with reduced admin charges that the direct provider is able to help with.