*Assistant Professor, Department of Humanities and Social Sciences, Jaypee University of Information Technology, Solan, Himachal Pradesh, India
**Student, Jaypee University of Information Technology, Solan, Himachal Pradesh, India
Online published on 4 June, 2015.
Bancassurance is defined as the selling of insurance products and services through banks using them as a platform. It is a conglomeration between the bank and the insurance company (both life and non-life) wherein, the bank provides a platform to the insurance company to promote its products and services. Though bancassurance is spreading its wings in India, still much is required for tapping the full potential of bancassurance. The success of bancassurance is not only dependent on customers but the bankers also play a critical role in the flourishment of bancassurance. Thus there is a need to know their perspective i.e. their attitudes, beliefs and challenges towards bancassurance. Through this study an attempt has been made to know the current status of bancassurance in India. The bank manager's perspective on various facets concerning bancassurance has also been studied. The results of the study suggest that bank managers feel that the major challenge in the growth of bancassurance in India is the lack of customer awareness. According to bank managers the main benefit of bancassurance is that the branch is able to achieve its profitability target. Banks mangers also feel that customers would prefer bancassurance over traditional insurance because they will get integrated financial services under one roof.
Bancassurance, Bank Managers, Banker's Perspective, Insurance Services, Life Insurance
