An Analysis of Customer Perception about Bancassurance An Empirical Study

Abstract

Bancassurance refers to the banks and insurance companies integrate either in the form of referral, corporate agent or through joint ventures to sell insurance policies of the insurer/insurance company to the bank customers. Bancassurance is expected to benefit the bankers, insurers as well as customers through one-stop solution for financial services. Perception of customers is an important indicator about the service quality and hence level of customer satisfaction. The paper is an attempt to study the customer perception on ban assurance, to study the influence of banking experience on banc assurance perception and to identify the dominating factors of the ban assurance perception. It is also an attempt identifying the dominant factors influencing customer perception about banc assurance and hence assisting the decision makers. The study includes primary and secondary data. The primary data includes 106 responses. The responses have been collected from the ban assurance customers through the structured questionnaire. Statistical methods such as Cranach's alpha, descriptive statistics, Tw-way ANOVA and the MCDM technique MOORA analysis has been used for data analysis. The study finds that the number of years of banking experience directly effects the perception about ban assurance. Low service charges are the far most important factor influencing the customer perception about banc assurance.