Volume : VIII, Issue : IV, April - 2019

RECENT TRENDS AND GROWTH IN BANCASSURANCE BUSINESS IN INDIA

Dr. D. Nithya, Dr. B. Chitra

Abstract :

Bancassurance is concerned with the marketing of insurance products by banks to its customers. In this arrangement, insurance companies and banks undergo a tie–up, thereby allowing banks to sell the insurance products to its customers. This is a system in which a bank has a corporate agency with one insurance company to sell its products. By selling insurance policies bank earns a revenue stream apart from interest. It is called as fee–based income. This income is purely risk free for the bank since the bank simply plays the role of an intermediary for sourcing business to the insurance company. In this way, this study has been initiated with the motive to assess recent trends, growth pattern of life insurance and bancassurance, models and issues in marketing of bancassurance products among the customers. This study widely used secondary data to formulate this seminal work. Finding showed that the coming together of different financial services has provided synergies in operations and development of new concepts. Insurance companies require immense distribution strength and tremendous manpower to reach out to such a huge customer base. Bancassurance is the process through which insurance products are sold to customers at their local banks

Article: Download PDF    DOI : https://www.doi.org/10.36106/paripex  

Cite This Article:

RECENT TRENDS AND GROWTH IN BANCASSURANCE BUSINESS IN INDIA, Dr.D.Nithya, Dr.B.Chitra PARIPEX‾INDIAN JOURNAL OF RESEARCH : Volume-8 | Issue-4 | April-2019

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