An Analysis of Effectiveness of Bancassurance among Customers as an Alternative Distribution Channel in Bangalore

  • Bhavana Gowda SP Final Year Student, Ramaiah University of Applied Sciences, Bangalore-560054, India
  • Rashmi. R Faculty of Management and Commerce, Ramaiah University of Applied Sciences, Bangalore-560 054, India
Keywords: Bancassurance, Awareness, Insurance, Bank Employees, Future acceptance.


In this study we had conducted a survey among Customers of Bank in order to know whether they are aware of the concept of Bancassurance and exploring the reasons why customer would like to buy insurance products from banks. Customer attitude to two different distribution channels was calculated by getting the mean of 24 statements on Likert scale. 74% of the sample was aware of the fact that their banks sell insurance products. It was reported that the reference (56%) and bank employees (54%) are the two main information sources for these customers. The respondents emphasized Trust, convenience in terms of location as the main reasons for buying the insurance products from banks instead of Insurance agents and after analyzing 24 statements administered among target sample population we can conclude: Customers feel that insurance agents have more expertise in insurance products than bank employees and can give better advice. It was also found that banks employees give them all the information needed than insurance agents and customers trust bank more than insurance company for all their financial requirements. Therefore, banks in India should try to exploit the existing opportunities to cross-sell insurance products through their branch network.


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How to Cite
SP, B. G., & R, R. (2019). An Analysis of Effectiveness of Bancassurance among Customers as an Alternative Distribution Channel in Bangalore. Indian Journal of Finance and Banking, 3(2), 27-31.
Regular Research Article/ Short Communication Article