Measuring Channel Partners Experience in Bancassurance: An Empirical Study

Abstract

Purpose“ This study attempts to investigate bancassurance channel experience with respect Insurance Company. Design Methodology Approach“ The study is based on primary data collected using a structured questionnaire from bancassurance channel in the city of Kolhapur in the state of Maharashtra, India. Cronbach's alpha was used to test the reliability of the questionnaire. Statistical tools, such as mean, correlation and multiple linear regression analysis were used to attain the objective of the study. Findings and implications“ The study found that customers have favorable experiences when buying life insurance through the bancassurance channel. There are five core factors that affect customer experience in bancassurance channel partners satisfaction on service, opinion about staff, recommendation for business, satisfaction on documentation process, customers overall satisfaction. Insurance company should devise a strategy to sustain favorable experiences of their bancassurance channel, as this enables Insurance Company to retain their existing bancassurance channel while also attracting new ones. Limitations“ The study is restricted to bancassurance channel partner of XYZ insurance company in Kolhapur, India. Therefore, longitudinal and cross sectional research is needed to generalize the findings. Originality“ The study is first of its kind and hence original in nature. Prashant Ganesh Kale "Measuring Channel Partners Experience in Bancassurance: An Empirical Study" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23862.pdf