Awareness of bancassurance among public and private sector banks customers in Punjab, India

Bancassurance can become an important factor in improving the performance of banks if customers get adequate awareness about it. A significant association has been observed from previous literature between bancassurance and awareness among customers of banks but a need is there to know the level of association among customers of public and private sector banks. A comparative study may help frame substantial plans as well as approaches to advance the scope of bancassurance independently. A structured questionnaire was disseminated among 536 respondents from the banks of Punjab. The questionnaire was pre-tested and validated before data collection. The analysis of the level of awareness was made with the help of the chi-square test and exploratory factor analysis.