IJSRP, Volume 3, Issue 7, July 2013 Edition [ISSN 2250-3153]
Prof. Venkatesh U. Rajput
Welcome to Bancassurance. Bancassurance - a term coined by combining the two words bank and insurance (in French) - connotes distribution of insurance products through banking channels. Bancassurance encompasses terms such as ‘Allfinanz’ (in German), ‘Integrated Financial Services’ and ‘Assure banking’. This concept gained currency in the growing global insurance industry and its search for new channels of distribution. Banks, with their geographical spread and penetration in terms of customer reach of all segments, have emerged as viable sources for the distribution of insurance products. And everyone wants to jump onto the bandwagon for a piece of the action cake.