palanisamy balamani banudevi


Globally there is a trend of increased convergence of financial services rather than getting confined to the narrow channel of banking products. The line dividing the banking and non-banking financial products is increasingly getting thinner. A typical illustration of this trend would be well organized distribution of insurance products through banking networks. The concept is popularly called as Bancassurance.

Banks look this channel as generating additional income and generally insurance is usually a long term contract. Therefore commission continues to flow in, till its maturity. Bank is viewed as trustworthy financial market by customer and if bank don’t offer these products they face a threat of customer’s migration.

This model requires a synchronized work culture between banks and insurers. In India the model is gaining its importance like other European countries especially France, Italy and therefore the researcher is in need to study the bancassurance model.


Source: Tower Watson Survey 2009-10

Entry of Banks into Insurance Business, RBI, DBOD.No. FSC/BC.16/24.01.018/99-2000.

The journal of insurance institute of India, vol .no .xxx, July-December, 2004.

Insurance Chronicle, July 2005.

Report of IBA.

Bancassurance - Trends and Opportunities, edited by V.V.Ravikumar.

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