Banks foray into insurance business

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  1.  PRIYA MISHRA---33  JANAK AGRAWAL---02  RAJINI DHANGAR---11  SAGAR ADHANGALE---01  ASHISH GUPTA---19  DHIRESH SINGH---70  MEHRAJ SHEIKH---57 …
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  • 1.  PRIYA MISHRA---33  JANAK AGRAWAL---02  RAJINI DHANGAR---11  SAGAR ADHANGALE---01  ASHISH GUPTA---19  DHIRESH SINGH---70  MEHRAJ SHEIKH---57  PRADNYA DEVADIGA---10  ANIL KUNCHIKORVE---29
  • 2.  Many Indian banks are planning to enter the insurance sector…  Indian insurance sector collected a premium of about Rs. 75,000 crores…  Banks planning to enter insurance sector…
  • 3.  Accepting Deposits from public/others(Deposits)  Lending money to public(Loans)  Transferring money from one place to another  Acting as trustees  Keeping valuables in safe custody  Government business
  • 4.  INTRODUCTION  PRINCIPLES OF INSURANCE  TYPES OF INSURANCE
  • 5.  The term used to describe the partnership or relationship between a bank and an insurance company …  Help the consumer…  Gives the bank too much control…
  • 6.  Limitations on profit margins of traditional banking products  Regulatory Changes  Better use of Banks’ network and infrastructure
  • 7.  Customer Loyalty  Customer’s information as marketing tool
  • 8. Benefits to banks Benefits to insurers Secure an additional and more stable income huge customer base Leverage on their extensive customer bases Reduce their reliance Increase customer retention Share services with banks Reduce risk Develop new financial products Works towards the provision of integrated financial services Establish market presence Access funds Obtain additional capital of banks
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