BANKERS' OPINION TOWARDS MARKETING PRACTICES OF LIC PRODUCTS THROUGH BANCASSURANCE CHANNEL IN MADURAI DIVISION:
Bancassurance is a new form of business wherein banks and insurers come together and integrate all their strength and efforts to generate new means of marketing their products and services. Bancassurance means selling insurance product through banks. Banks and insurance company come up in a partnership wherein the bank sells the tied insurance company's insurance products to its clients. The bank acts as an intermediary, helping insurance firm reach its target customers in order to increase its market share. The objectives of the study are: to study the profile of the banks, to analyse the bankers' opinion towards marketing practices of LIC products' through bancassurance channel and to analyze the factors influencing the attitude of bank managers towards bancassurance. The present study was carried out in LIC of India, Madurai division. The study is based on both primary and secondary data. The primary data were gathered from 200 bankers. The secondary data were collected from books, journals, magazines, report and websites. Convenience sampling technique has been applied.