Motivational Factors Influencing Bancassurance Customers: An Analysis.

This study explores the key motivational factors influencing customers to purchase insurance products through bancassurance channels in India. Employing a descriptive research design, the primary data were collected through a structured and pilot-tested questionnaire from a representative sample of 400 respondents across public and private sector banks. Seven motivational factors were examined: convenience, low service charges, high-paying features of insurance policies, service quality and variety, reputation and brand image, bank employee advice, and influence of well-wishers. The study integrates secondary data to contextualize the findings, and employs appropriate statistical controls to ensure validity. The results indicate that high-paying features and service quality are the most influential factors, with notable differences observed between public and private sector banks. The study contributes to the existing literature by identifying specific drivers of customer motivation in the Indian bancassurance sector and provides actionable recommendations for banks to enhance their service strategies, including leveraging digital platforms and improving customer engagement practices. [ABSTRACT FROM AUTHOR]