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Volume : II, Issue : IX, October - 2012 BANCASSURANCE – A New Viable Strategy For Indian Financial Sector Sunil Lohiya Published By : Laxmi Book Publication Abstract : Now a day, the banking industry and insurance industry have been rapidly
changed. Banking sector and Insurance sector contributes in nation GDP growth; it is
life line of any economy. The Indian economy completely changed due to LPG policy
introduced by Indian government, the pace of market expand due to LPG policy. The
insurance company provided cutting cost services due to competition. In view to reach
huge untapped market, the concept of Bancassurance was introduced by the IRDA.
Bancassurance is a new and an emerging model of channel of distribution life insurance
policy. In India, customers were used to monopolistic attitude of public sector insurance
companies because of Government ownership. But now a day, the customers to move
over to private insurance companies that are collaborated with foreign companies which
are less known to the Indian public would take little more time. The present conceptual
based research paper focus on objective, benefits, limitations, awareness and future
perspective of Bancassurance Keywords : Article : Cite This Article : Sunil Lohiya, (2012). BANCASSURANCE – A New Viable Strategy For Indian Financial Sector. Indian Streams Research Journal, Vol. II, Issue. IX, http://oldisrj.lbp.world/UploadedData/1514.pdf References : - Insurance Regulatory and Development Authority (IRDA), Report of the Committee on BANCASSURANCE, 7th June, 2011, p: 8, 2011.
- SCOR, 2003: Bancassurance across the globe – meets with very mixed response. SCOR Technical Newsletter, February, France. Quoted in
- Kaninika Mishra, Fundamentals Of Life Insurance: Theories And Applications, pub: PHI learning private ltd., p:46, 2010.
- Nalini Prava Tripathy, Financial Services, pub: PHI learning private ltd., p: 252, 2007.
- R. Rajesh and T. Sivangnanasithi, Banking Theory Law N Practice, Tata Mac graw hill publication, p:329, 2009.
- Dharmendra Kumar, Rahul Singh, India Insurance Report Series-I, Allied publishers private ltd, p:415, 2005.
- http:/rbidocs.rbi.org.in/rdocs/Publications/PDFs/80595.pdf
- Insurance Regulatory and Development Authority (IRDA), Report of the Committee on BANCASSURANCE, 7th June, 2011, p: 8, 2011.
- SCOR, 2003: Bancassurance across the globe – meets with very mixed response. SCOR Technical Newsletter, February, France. Quoted in
- Kaninika Mishra, Fundamentals Of Life Insurance: Theories And Applications, pub: PHI learning private ltd., p:46, 2010.
- Nalini Prava Tripathy, Financial Services, pub: PHI learning private ltd., p: 252, 2007.
- R. Rajesh and T. Sivangnanasithi, Banking Theory Law N Practice, Tata Mac graw hill publication, p:329, 2009.
- Dharmendra Kumar, Rahul Singh, India Insurance Report Series-I, Allied publishers private ltd, p:415, 2005.
- http:/rbidocs.rbi.org.in/rdocs/Publications/PDFs/80595.pdf
- Sigma, Swiss re, World insurance in 2011 non-life ready for take-off, No 3/2012, Pub: Swiss Reinsurance company ltd. 2012.
- Bancassurance life focus, Analysis of Bancassurance and its status around the world, Reports available at: - www.scor.com.
- A. Karunagaran, Bancassurance: A Feasible Strategy for Banks in India, Reserve Bank of India Occasional Papers, Vol. 27, No. 3, Winter 2006.
- Dr.NanditaMishra, Bancassurance: problem and challenges in india, Integral Review- A Journal of Management, Volume 5, No. 1, June-2012,pp 52-63 http://www.integraluniversity.ac.in/net/journalsAndPublications.aspx 12.Insurance Regulatory Development Authority, Annual Report, various volumes
- www.swissre.com
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