Motivational Factors in Bancassurance – a study of Canara bank in chikkamagaluru district

Abstract

The expansion of banking activities to insurance sector has created new window along with the existing ones mainly concentrated with deposit mobilisation and lending process. With the existing customer’s database, Bancassurance not only turned out to be economy but also provided an opportunity to explore the untapped and uninsured population. Further, with the trust of the bank customer on the bank as reliable financial provider initiated banks to go with bancassurance as the result of which bank were equipped with parallel income along with traditional banking services. On the other hand, professionalism of the staff, customer acquaintance, infrastructure and network/ geographical were the major motivational factors initiating banks to go with bancassurance. In this context, the present paper focuses in studying bank employees’ perception in adoption and implementation of bancassurance.