International Journal in Commerce, IT and Social Sciences Volume 6 Issue 06, June 2019 ISSN: 2394-5702 Impact Factor: 5.617 Journal Homepage: http://ijmr.net.in, Email: irjmss@gmail.com Double-Blind Peer Reviewed Refereed Open Access International Journal 11 International Journal in Commerce, IT and Social Sciences http://ijmr.net.in, Email: irjmss@gmail.com “BANCASSURANCE – A STUDY ON SYNERGY FOR BANKING AND INSURANCE SECTORS” Nikki Kumari Research Scholar, Dept of Com. and Management, Sahyadri Arts and Com. College, Dr.K.V.Giridhar Research Supervisor,Dept. of Com.and Management Sahyadri Arts and Com. Abstract Financial inclusion is the new concept which is emerging nowadays; it is a process through which all the financial products are provided even to the weaker section of the society. With the help of banking the financial inclusion is possible government can use the wide network of bank branches to reach even to the rural segment . Under universal banking bank can provide all the financial products under one roof which also includes insurance. The distribution of insurance through the bank network is called as the bancassurance; insurance company uses the bancassurance channel to enlarge its market, the present article focus on the bancassurance concept, its efficiency, and problems in the implementation. Keywords: Universal banking, financial inclusion, bank network. Subject : please include the article in commerce journal. 1.1 Introduction Innovation is the new mantra of the Indian financial sector. New innovations are emerging in almost all the sector in the form of new products, process or services. Bancassurance is also a new innovation in the banking sector. It is a process where Insurance products are sold to the bank customers at the bank premises. Awareness level of bancassurance is less among Indian Customers which necessities the banker to create more awareness and promotional activities for bancassurance for the success of bancassurance it requires bankers to understand the need of the customer’s , frequent interaction with the customers makes banker to understand the customer’s needs and in turn creates awareness of bancassurance products among customers. In future nearly 50 percent of the population will come under “income earner group” which will provide an opportunity for bancassurance to be successful in India for a long run. If the concept of