Bancassurance - A challenging convergence in Indian prospective

A sound financial sector is the back bone of Healthy economy. The banking and Insurance industry have charged rapidly in the changing and challenging economic environment throughout the globe. In the competitive and open environment each and everyone wants to do better than others. And they know that if they are not able to provide better service they won't survive in Industry. Insurance companies are also to be competitive by cutting cost and serving in the better way to customers. Now the time has come to choose and adopt appropriate distribution channel. Banc assurance is the channel for selling out the insurance products. It can be said as the medium of marketing the insurance products through entire bank network. This present article enumerates the trends, strategic challenges and advantages of bancassuance in India.