hink of a bank that sells loans and bundles in insurance cover. Think of a bank that sells life insurance policies. In other words, think bancassurance - a combination of banking and insurance, a combination that is a roaring success in the West and is fast catching on in India.

According to estimates, there are 75-80 bank branches per million inhabitants in India (excluding standalone ATMs). These branches are a treasure trove of information on the financial needs, saving patterns and life stages of the customers they serve. Clearly, that�s something insurance companies - both private and state-owned - would find nearly impossible to achieve on their own. Enter banks. They have a captive and growing customer base that can be exploited to cross-sell products.... more