Indian bancassurance – a composition under globalised economic scenario

Bancassurance is a win-win model for insurance companies and banl<s. Its simplest form is the distribution of insurance products through a bank distribution channel. In this field of bancassurance, banks are using the strategic marketing practices and IT enabled practices like data warehousing and mining, CRM to leverage more customer focused applications. The present trends of banking operations across the globe have been ever changing and competitive. Whether the banks are in private or public sector, the questions of survival and customer relation management is the primary objective across the globe. In this paper, we explore the concept, origin and growth of the insurance and bancassurance in India as well as at global level along with the different models and SWOT analysis of bancassurance