Bancassurance - A Business Option
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Case Code: INS040 Case Length: 04 Pages Period: 2003 Pub Date: 2003 Teaching Note: Available |
Price: Rs.100 Organization: Varied Industry: Insurance Countries: India Themes: - |
Abstract Case Intro
The Bank of Tirupati is one of the few private banks that have managed to remain profitable despite stiff competition from giants in the banking sector. The bank has been able to develop a niche for itself, and has also been successful in mobilizing deposits from the public. But it is finding it difficult to protect its bottom-line as the competition is increasing day by day.
For the last two years, the bank has been making efforts to sustain and counter the pressures of the changing business environment.
With the liberalization of the insurance sector, the insurance distribution system itself has undergone a major transition. The agency system which dominated traditional insurance distribution is facing stiff competition from the new distribution channels in insurance, such as bancassurance and brokers.
Malik Chand (Malik), the CEO of the Bank of Tirupathi called a meeting with the President of the bank, Kamal Rathi (Kamal) to discuss the issue of distributing insurance products. Malik started the discussion and said, "The banking sector is in a transition period. In such a scenario, we need to look for options so as to protect our bottom-line."...
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