Bancassurance Study - India
This Study, compares and contrasts how Indian banks and life insurers view the business of bancassurance as currently practiced in India. On a worldwide level, bancassurance has proven to be a mutually beneficial line of business. However, as this Study shows, while bancassurance has been in India for a decade, banks and life insurers still remain divided on key issues.
Banks and life insurers continue to work towards increasing the size and scope of their offerings. They still need to, however, overcome several perceptual and conceptual obstacles if they are to realize their goal of seamless and steady growth of life insurance sales through the bank channel. This Study is not intended as the final word; rather it’s a starting point. It highlights the important issues faced within current bancassurance models and looks to illuminate the cultural and perceptual gaps that still exist between banks’ and life insurers’ thinking. As banks and life insurers become more aware of the perceptual and cultural differences, we believe the way will be paved to more open and constructive dialogues which will smooth the path to optimizing growth and further development of India’s bancassurance market.
To view the Bancassurance - India study, among others, please click below
Banks and life insurers continue to work towards increasing the size and scope of their offerings. They still need to, however, overcome several perceptual and conceptual obstacles if they are to realize their goal of seamless and steady growth of life insurance sales through the bank channel. This Study is not intended as the final word; rather it’s a starting point. It highlights the important issues faced within current bancassurance models and looks to illuminate the cultural and perceptual gaps that still exist between banks’ and life insurers’ thinking. As banks and life insurers become more aware of the perceptual and cultural differences, we believe the way will be paved to more open and constructive dialogues which will smooth the path to optimizing growth and further development of India’s bancassurance market.
To view the Bancassurance - India study, among others, please click below