Contribution of Bancassurance to the Financial Performance of Banks:A Review Paper

Abstract

This paper aims at providing an insight to the practices of bancassurance and its contribution to financial performance. Promotion of bancassurance has been widely gaining appreciation as an important financial instrument for banks to add to their existing product and service line and also holds good for the consumers to obtain savings and protection under one roof. Content analysis method is used for reviewing published literature. The overall evidence on the outcomes of bancassurance in India shows mixed results. Though there are many success stories, still bancassurance has not yet flourished upto expectation in India because of the mismatch in vision and practice. The reasons of the slow growth can be attributed to the structural, operational and technological problems which need to be addressed for a far better positive consequence in terms of contribution to financial performance of commercial banks