Open AccessAwareness & Preferences of Bancassurance in India
Author(s) -
Dr.K.V.R. Satya Kumar,
P. Suneela Bharathi
Publication year - 2019
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.d8404.118419
Subject(s) - bancassurance , financial services , business , product (mathematics) , legislature , marketing , life insurance , service (business) , insurance industry , transparency (behavior) , income protection insurance , finance , insurance policy , actuarial science , general insurance , political science , geometry , mathematics , law
Bancassurance offers insurance products through financial institutions that square the representatives for customers that has numerous sorts supported the sociology, economic and legislative environment of the country wherever sociology climate shows the sort of insurance products, the economic climate will illustrate the trend leads to High earnings, market share, etc., and legislative climate can decide the boundary at intervals that bancassurance should operate. Awareness about our financial products in india is very low and compare to our financial inclusion percentage is very low with comparing to other countries. Bancassurance is service offering by banks and insurance service providers jointly and if the customers are not having the awareness it’s not possible to offer more services to the customers. This Paper focus on the level of consumers Awareness on Bancassurance and what factors are influencing to purchase the insurance product through Bancassurance Service. And analyze their responses through statistical tools and offering the suggestions which are boosting the bancassurance services in India.