International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

Mounting Role of Banc Assurance in India
Dr. Joji Abey

A sound and effective banking system is needed for a healthy economy. One of the most important segments that support the economy is the insurance sector. Globalization, liberalization, measures taken for the economic growth, technological developments, changing life style in the society, political and legal factors has a major role in increasing the risk of our daily life. In these circumstances we individuals are forced to learn how to live our life with risk. Insurance plays an incredible role in one’s personal, financial, industrial and commercial life. The wave of financial deregulation and the changes in customer demands paved the way for the emergence of financial conglomerates which resulted in “Bancassurance”. The present study is conducted to know the various banc assurance models, to analyze the benefits gained by the banks, insurers and customers and to know the role of banks in the policies and growth of life insurance business.

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