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Bancassuarance in India - Issues & Challenges


Brahmam Rayala


Apollo Institute of Hospital Administration

Dr. Lokanandha Reddy Irala


KKC Institute of PG Studies; WINGS BUSINESS SCHOOL

Aparna P


Dhruva College of Management


Pratibimba, Vol. 04, No. 01, January 2004

Abstract:     
Bancassurance in its simplest form is the distribution of insurance products through a bank's distribution channels. The broad philosophy behind Bancassurance is to combine the manufacturing capabilities and selling culture of insurance companies with the distribution network and large client base of banks.

In a typical Bancassurance model, the consumer will have access to a wider product mix - a rather comprehensive financial services package, encompassing banking and insurance products.

Bancassurance not only enables the insurance companies to access thus far untapped markets, but also facilitates banks earn handsome fee based income

Bancassurance is evolutionary and there are many models adopted around the globe. Each model has its own advantages and disadvantages. The good model is one that optimally leverages the strengths of the partners across the activity chain.

In India, the signs of initial success are already there despite the fact that it is completely a new phenomenon. The success of Bancassurance depends on how the social and cultural needs of the target population are understood. In addition a major segment of the Indian population has low disposable income, meaning that every rupee won will be obtained after a lot of persuasion and the expected value for money is high.

This article presents a conceptual framework of Bancassurance detailing various models, issues and challenges.

Number of Pages in PDF File: 8

Keywords: Bancassurance, Banking, Insurance, India

JEL Classification: G21, G22

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Date posted: November 14, 2006  

Suggested Citation

Rayala, Brahmam and Irala, Dr. Lokanandha Reddy and P, Aparna, Bancassuarance in India - Issues & Challenges. Pratibimba, Vol. 04, No. 01, January 2004. Available at SSRN: http://ssrn.com/abstract=944402

Contact Information

Brahmam Rayala
Apollo Institute of Hospital Administration ( email )
Hyderabad-500 033
India
Dr. Lokanandha Reddy Irala (Contact Author)
KKC Institute of PG Studies ( email )
PR Mangalam
Puttur, Andhra Pradesh 517583
India
9866539823 (Phone)
WINGS BUSINESS SCHOOL ( email )
KKV PURAM(V)
TIRUPATI, ANDHRA PRADESH 517561
India
919866539823 (Phone)
Aparna P
Dhruva College of Management ( email )
Kachiguda
Hyderabad, Andhra Pradesh 500027
India
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