Bancassurance Business In India: Reviews From The Perception of Bank Employees

Abstract

Over the past one decade, financial market of India has witnessed a
remarkable change in banking and insurance sector. The insurance
company sells insurance related products with the help of bank sales
channel. When these two big financial institutions join together
with a mutual purpose, it gives birth to “Bancassurance”. The success
of bancassurance business hinges on the employees’ attitude who
executes bancassurance practices in banks. The purpose of the
study is to provide better insights of the employees’ perspective on
bancassurance. The study reviewed various research papers taken from
relevant research databases. Further, study explains the analysis of
employee’s perspective under three dimensions i.e. motivating factors
of bancassurance, perceived benefits of bancassurance and problems
of bancassurance. The results of the study revealed that positive
perception of employees plays a vital role in success of bancassurance
and enhances the excellent customer’s relationship.