Journal Name:
- Eurasian Journal of Business and Economics
| Author Name | University of Author |
|---|---|
Abstract (2. Language):
The study endeavors to analyze the effect of awareness level regarding
bancassurance among the bank customers on choice of Insurance product in India.
A primary survey of 552 bank customers, who have purchased bancassurance,
reveals the following facts using ordered response Probit analysis: i) regardless of
the present efforts of the banks, the expected level of awareness among the
customers of banks regarding bancassurance is either partial or significant; ii) the
expected probability of complete awareness is very low; iii) the banking sector
needs to improve upon the level of awareness regarding bancassurance among
their customers and the factors like frequency of dealing with bank customers, bank
brochures and other publications may prove to be helpful; and iv) the reasons
because of which, three sources of information namely, Newspapers, Bank Staff and
Direct Mail are failing to spread complete information regarding bancassurance
among customers of the banks are needed to be analyzed. However, an execution
of structural equations model rejects the hypothesis of insignificant effect of level of
awareness on choice of insurance product in weak form.
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