BANCASSURANCE: DISTRIBUTION CHANNELS AND STRATEGIES IN AN EMERGING MARKET by Santosh Kumar
By: Global Vision Publishing HouseSingle Issue
Single Issue
- BANCASSURANCE: DISTRIBUTION CHANNELS AND STRATEGIES IN AN EMERGING MARKET by Santosh Kumar
- Price : 200.00
- Published on June 1, 2013
- Global Vision Publishing House
- Language - English
- Published na
About this issue
The business of banking around the globe is changing due to integration of global financial markets, development of new technologies, universalisation of banking operations and diversification in non-banking activities. Due to all these movements, the boundaries that have kept various financial services separate from each other have vanished. The coming together of different financial services has provided synergies in operations and development of new concepts. One of these is bancassurance. Bancassurance simply means selling of insurance products by banks. In this arrangement, insurance companies and banks undergo a tie-up, thereby allowing banks to sell the insurance products to its customers. This is a system in which a bank has a corporate agency with one insurance company to sell its products. By selling insurance policies, bank earns a revenue stream apart from interest. It is called as fee-based income. This income is purely risk free for the bank since the bank simply plays the role of an intermediary for sourcing business to the insurance company. This article is highlighting the detailed information about the marketing and distribution channels in bancassurances and add distribution strategies in an emerging market. Further, this paper elaborates the view of bancassurance in abroad and in India. It also explores the legal requirements of bancassurance in India and at last report concludes it, while telling its obstacles and success factors.
About BANCASSURANCE: DISTRIBUTION CHANNELS AND STRATEGIES IN AN EMERGING MARKET by Santosh Kumar
Global Journal of Business Management Vol. 2 No. 2, December 2008