The Current Trends in Bancassurance Channel of Life Insurance Sector in India

Bancassurance is the blend of the terms 'Bank' and 'Insurance'. In this kind of arrangement, the insurance product is sold through banks. This paper attempts to explore the current trends in bancassurance models as feasible source of sustainable income to banking sector. On the one hand Indian banks are having the largest banking network and on the other hand India has lower insurance penetration and insurance density. This paper tries to highlight global as well as Indian perspective of bancassurance model. While analyzing the present trend of banks handling insurance products, it also highlights opportunities & threats for Bancassurance sector.

Keywords: Bancassurance, Life Insurance Companies, Banking Network.

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