Transcription of Bancassurance and Indian Banks
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Bancassurance and Indian Banks
Bancassurance and Indian Banks Lalat K Pani1 & Sukhamaya Swain2. 1. Dept. of Commerce, Bhadrak Autonomous College, Bhadrak 2. Circle Business Banking Head, Orissa Circle, AXIS bank Ltd. E-mail : I. INTRODUCTION alliance with different financial services providers, thereby putting a barrier on Bancassurance . As a result Bancassurance refers to selling of insurance policies of this life insurance was primarily sold through through Banks . Banks earn revenue through this sale. In individual agents, who focused on wealthier individuals, India, the process began in 2000. IRDA came up with leading to a majority of the American middle class regulation on registration of Indian companies. households being under-insured. With the US. Government of India also issued a Notification Government repealing the Act in 1999, the concept of specifying insurance ' as a permissible form of business Bancassurance started gaining grounds in the USA also.
International Journal of Research and Development - A Management Review (IJRDMR) ISSN (Print): 2319–5479, Volume-2, Issue – 1, 2013 13 Table 2: International Comparison of Life Insurance Penetration
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