Advances in Consumer Research
Issue 6 : 57-67
Original Article
A Study On Impact Of Bancassurance On Revenue & Profitability Of Life Insurance Companies
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Department of Management Studies, St. John College of Engineering and Management, Palghar, India.
Abstract

This study focuses on understanding how bancassurance influences the revenue and profitability of life insurers. Bancassurance, which refers to the partnership between banks and insurance providers, has become an important way of selling insurance by using banks’ existing customer base and trust. The methodological framework for this study is descriptive and quantitative, utilizing information gathered from 50 respondents along with support from secondary sources like reports and previous studies. Basic statistical tools such as percentage analysis and A Chi-square test was performed to analyze the information. The outcome shows that bancassurance helps insurance companies increase their revenue by reaching more customers and improving sales, while also enhancing profitability by reducing distribution and operational costs. Overall, the study highlights that bancassurance is a convenient and effective channel that benefits both insurance companies and customers

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