Search and publish your papers
Our Guarantee
We guarantee quality.
Find out more!
Personalize Oboulo!
Oboulo gets a makeover!
Choose a color from the list below.

About the author

Acepublisher.com is a pioneer in validating and...
Level
Expert

About the document

Published date
04/07/2009
Language
documents in English
Format
Word
Type
term papers
Pages
28 pages
Level
Expert
Accessed
1 times
Validated by
Committee Oboulo.com
0 Comment
Rate this document

Bancassurance: An overview

  1. Introduction
    1. Objectives
    2. Scope
    3. Methodology
    4. Limitations
    5. Overview of the distribution channel
    6. Introduction to Bancassurance
  2. Bancassurance model
    1. Corporate agency model
    2. Referral model
  3. Benefits of bancassurance
    1. Benefit to banks
    2. Benefit to insurers
    3. Benefit to customers
    4. SWOT analysis
  4. Global scenario
    1. Global trends in bancassurance
    2. Working of bancassurance
  5. Data analysis and interpretation
  6. Findings
  7. Conclusion
  8. Bibliography

The purpose of distribution channel is to make the right quantity of the right product available at the right place and at the right time. Distribution is supposed to create time, place, and possession utility. A distribution channel is expected to perform the selling function of moving through the stages of awareness, interest, desire and action. Therefore, distribution channels need to be selected very carefully because every product requires a unique and different distributional channel, which in turn is determined, by the skill expertise and the cost base of the chosen distribution method. Appropriate distribution channels are needed through which the insurance companies can get the maximum benefits n serves the customers in manifold ways.

The time has come for the industry to gradually move from traditional individual agents towards new distributional channel with a paradigm shift in creating awareness and not just selling products. The need of the hour is Multi-channel distribution. Many Financial Consultancy Firms, Share Broking Firms, Companies working as Investment advisers have taken up corporate agencies and sell insurance to the existing customers and spread their insurance selling to new customers through the referrals given by their clientele. Another significant thing that is happening is the addition of Banks as corporate agents and marketing insurance through the banks

[...] Another area that could be of interest to bankers to sell insurance is exploiting the corporate customers and tying up for insurance of the employees of corporate clients, which would be an avenue with easy access. In most cases of corporate accounts, banks take up the activity of salary disbursement of employees, and offering personal loan facilities. Here, gives an opportunity to provide insurance cover as well Thus, The Major Opportunities In Bancassurance Can Be Jotted As Follows: 1. Finance and Repayment Products: These products help in covering the loss to the financial Institutes, who grant loans and credit to the individuals, in case of disability or death of the borrower. [...]


[...] The policy is an annually renewable one and terminates on the customer reaching the maximum age. These products are priced very affordably, and therefore, offer pure protection only, and there would be no returns on maturity. Usually, the products have a fixed start date every year, and therefore, those joining in the middle pay proportionate premiums in the first year. Customers receive a certificate of insurance/acknowledgement while the bank is the master policyholder. An attempt has also been made in the industry to provide the popular recurring deposit in the bank with the value addition of life insurance cover. [...]


[...] This project stresses on “Bancassurance” as an alternative channel of distribution, which is all set to change the Insurance Scenario. Introduction to Bancassurance With the evolution of interconnected financial services, more and more financial institutions are forced to offer wide range of sophisticated products to their clients. It is no longer possible for any financial institution operating in global-sized market to survive without additional sources of revenues. This has prompted two big classes of financial institutions to combine their strengths and create a new means of marketing their products and services. [...]

...

Similar documents you may be interested in reading.

Tata AIG Life Insurance Co. Ltd: Market mapping and research for group pensions products

 Business & market   |  Marketing   |  Indian project   |  04/06/2009   |   .doc   |   19 pages

«Introduction.. Indian Insurance Industry.. Insurance industry characteristics and registered insurers.. Role of insurance companies with respect to gratuity [e] superannuation.. Ways to manage gratuity/superannuation liability.. Tax benefits of fund to employer and employee.. Profile of Tata AIG...»

«Due to the advancement made by mankind in the fields of science and medicine, life expectation has been increasing at a steady rate, and today one can expect to have a longer life span than the earlier generations. For people, this increase means a longer retirement life, which would mean they...»

A detailed report on Bajaj Allianz Life insurance and its competitors

 Economics & finance   |  Finance   |  Indian project   |  04/06/2009   |   .doc   |   41 pages

«Introduction.. Objective.. An overview of Life Insurance.. Company profile.. Background and inception of the company.. Nature of the business.. Mission vision and quality policy.. Product / Services profile.. Area of operation.. Ownership pattern.. Competitors information.. Infrastructural...»

«Every individual's ultimate goal is to seek financial security for himself and his family members. In today's world of rising prices and uncertain markets, the resources available to fulfill needs and aspirations are limited. A planned approach helps to realize almost all dreams, needs and desires...»

Most rated for finance

Financial analysis of Microsoft

 Economics & finance   |  Finance   |  Case study   |  01/19/2012   |   .pdf   |   30 pages

«Introduction. Presentation of the company. Context of the analysis. Short economic analysis. Financial structure analysis. Trend analysis. Comparative analysis. Financial cash flows. Assessment of the risks. Conclusion and recommendations.»

«Microsoft, a global company in the informatics system, was founded in 1975 by two American students, Bill Gates and Paul Allen. Microsoft hires almost 80000 people in more than 100 countries. Its most important activity is to develop informatics system for computers with revenues worth 70 billion...»