Chapter – 7

Conclusions and Recommendations

7.1 Introduction

This last chapter is devoted to presentation of conclusions and

recommendations. The researcher has given the fulfillment of objectives, findings,
conclusions, testing of hypothesis and recommendations.

7.2 Fulfillment of Objectives

The objectives of the study are fulfilled as follows:

1. The researcher has studied the socio-economic profile of sample
employees and the sample customers of State Bank of India in
Marathwada region.
This is shown in the Chapter No. 3 Table No. 3.5 to 3.10
2. The researcher has presented a general profile of the area under study i.e.
Marathwada Region of Maharashtra state with reference to Banking and
Insurance business.
This is shown in the Chapter No. 3, Table No. 3.1 to 3.4.
3. The researcher has presented an overview of the concept of
Bancassurance.
This is shown in the Chapter No. 1 and Chapter No. 4.
4. The researcher has studied the historical background of Banking and
Insurance in India.
This is shown in the Chapter No. 4.
5. The researcher has studied the performance of Bancassurance.
This is shown in Chapter No. 4, Table No. 4.1 to 4.30.
6. The researcher has studied the satisfaction of the customers of State Bank
of India in Marathwada region with bancassurance services.
This is shown in Chapter No. 5, Table No. 5.1 to 5.42.
7. The researcher has analyzed various problems in bancassurance faced by
bank employees of State Bank of India in Marathwada Region of
Maharashtra State.
This is shown in Chapter No. 6, Table No. 6.1 to 6.42.

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7.3 Findings and Conclusions

The findings and conclusions of the study are presented here in this section.

7.3.1 Findings

The findings of the study are as follows:

1. It is found that, the highest total No. of policies sold by SBI Life
during the period under study i.e. 2012-13 to 2016-17 was 1275500 in
the year 2016-17, whereas the average total No. of policies sold by SBI
Life was 1121004 during the period under study.
2. It is found that, the highest Total Sum Assured by SBI Life during the
period under study i.e. 2012-13 to 2016-17 was Rs. 397661 crore in the
year 2016-17, whereas the average Total Sum Assured by SBI Life
was Rs. 200315 crore during the period under study.
3. It is found that, the highest Amount of Regular Premium by SBI Life
during the period under study i.e. 2012-13 to 2016-17 was Rs. 6207.23
crore in the year 2016-17, whereas the average Amount of Regular
Premium by SBI Life was Rs. 3956.73 crore during the period under
study.
4. It is found that, the highest Amount of Single Premium by SBI Life
during the period under study i.e. 2012-13 to 2016-17 was Rs. 3936.63
crore in the year 2016-17, whereas the average Amount of Single
Premium by SBI Life was Rs. 2648.76 crore during the period under
study.
5. It is found that, the highest Amount of First Premium by SBI Life
during the period under study i.e. 2012-13 to 2016-17 was Rs.
10143.86 crore in the year 2016-17, whereas the average Amount of
First Premium by SBI Life was Rs. 6605.49 crore during the period
under study.
6. It is found that, the highest Amount of Renewal Premium by SBI Life
during the period under study i.e. 2012-13 to 2016-17 was Rs.
10871.00 crore in the year 2016-17, whereas the average Amount of
Renewal Premium by SBI Life was Rs. 7573.60 crore during the
period under study.

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7. It is found that, the highest Total Premium Collection by SBI Life
during the period under study i.e. 2012-13 to 2016-17 was Rs.
21015.00 crore in the year 2016-17, whereas the average Total
Premium Collection by SBI Life was Rs. 14179.09 crore during the
period under study.
8. It is found that, the highest Income from Investment & Other Income
of SBI Life during the period under study i.e. 2012-13 to 2016-17 was
Rs. 10540 crore in the year 2014-15, whereas the average Income from
Investment & Other Income of SBI Life was Rs. 5683 crore during the
period under study.
9. It is found that, the highest Net Profit after Tax of SBI Life during the
period under study i.e. 2012-13 to 2016-17 was Rs. 9545 crore in the
year 2016-17, whereas the average Net Profit after Tax of SBI Life
was Rs. 7995.00 crore during the period under study.
10. It is found that, the highest Amount of Death Claims (Individual) of
SBI Life during the period under study i.e. 2012-13 to 2016-17 was Rs.
519.09 crore in the year 2016-17, whereas the average Amount of
Death Claims (Individual) of SBI Life was Rs. 360.53 crore during the
period under study.
11. It is found that, the highest Amount of Death Claims (Group
Insurance) of SBI Life during the period under study i.e. 2012-13 to
2016-17 was Rs. 642.62 crore in the year 2016-17, whereas the
average Amount of Death Claims (Group Insurance) of SBI Life was
Rs. 397.56 crore during the period under study.
12. It is found that, the highest Amount of Total Death Claims of SBI Life
during the period under study i.e. 2012-13 to 2016-17 was Rs. 1161.71
crore in the year 2016-17, whereas the average Amount of Total Death
Claims of SBI Life was Rs. 758.09 crore during the period under
study.
13. It is found that, the highest Amount of First Premium (Bancassurance)
of SBI Life during the period under study i.e. 2012-13 to 2016-17 was
Rs. 6842 crore in the year 2016-17, whereas the average Amount of
First Premium (Bancassurance) of SBI Life was Rs. 3003.40 crore
during the period under study.
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 14. It is found that, the highest premium collection i.e. Rs. 52.22 crore was
in the year 2016-17 by the SBI branches in Marathwada region.
15. It is found that, the highest i.e. 29.35% No. of bank branches of SBI
are in Aurangabad district, whereas, the lowest i.e. 5.43% No. of bank
branches of SBI are in Hingoli district.

7.3.2 Conclusions Regarding the Performance of Bancassurance

Various conclusions regarding the performance of bancassurance in SBI in

Marathwada region are presented in this section.

1. It is concluded that, the highest i.e. 39.17% of the sample employees of

SBI from rural parts of Marathwada have opined that the performance
regarding Achieving Targets is ‘Good’, whereas highest i.e. 37.08%
among the sample employees of SBI from urban parts of Marathwada
have opined that the performance regarding Achieving Targets is
‘Very Good’.
2. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding Achieving Targets.
3. It is concluded that, the highest i.e. 37.92% of the sample employees of
SBI from rural parts of Marathwada have opined that the performance
regarding New Market Creation is ‘Good’, whereas highest i.e. 35%
among the sample employees of SBI from urban parts of Marathwada
have opined that the performance regarding New Market Creation is
‘Very Good’.
4. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding New Market Creation.
5. It is concluded that, the highest i.e. 40.42% of the sample employees of
SBI from rural parts of Marathwada have opined that the performance
regarding Customer Satisfaction is ‘Good’, whereas highest i.e.

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 37.08% among the sample employees of SBI from urban parts of
Marathwada have opined that the performance regarding Customer
Satisfaction is ‘Very Good’.
6. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding Customer Satisfaction.
7. It is concluded that, the highest i.e. 34.17% of the sample employees of
SBI from rural parts of Marathwada have opined that the performance
regarding On-Line Services is ‘Good’, whereas highest i.e. 37.08%
among the sample employees of SBI from urban parts of Marathwada
have opined that the performance regarding On-Line Services is ‘Very
Good’.
8. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding On-Line Services.
9. It is concluded that, the highest i.e. 40.83% of the sample employees of
SBI from rural parts of Marathwada have opined that the performance
regarding Increase in Business Figures is ‘Good’, whereas highest i.e.
42.50% among the sample employees of SBI from urban parts of
Marathwada have opined that the performance regarding Increase in
Business Figures is ‘Good’.
10. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding Increase in Business Figures.
11. It is concluded that, the highest i.e. 39.58% of the sample employees of
SBI from rural parts of Marathwada have opined that the performance
regarding Speed of Document Processing is ‘Good’, whereas highest
i.e. 40.83% among the sample employees of SBI from urban parts of
Marathwada have opined that the performance regarding Speed of
Document Processing is ‘Very Good’.

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12. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding Speed of Document Processing.
13. It is concluded that, the highest i.e. 37.92% of the sample employees of
SBI from rural parts of Marathwada have opined that the performance
regarding Marketing/Promotional Activities is ‘Good’, whereas highest
i.e. 45.42% among the sample employees of SBI from urban parts of
Marathwada have opined that the performance regarding
Marketing/Promotional Activities is ‘Good’.
14. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding Marketing/Promotional Activities.
15. It is concluded that, the highest i.e. 37.08% of the sample employees of
SBI from rural parts of Marathwada have opined that the performance
regarding Premium Collection is ‘Very Good’, whereas highest i.e.
38.33% among the sample employees of SBI from urban parts of
Marathwada have opined that the performance regarding Premium
Collection is ‘Excellent’.
16. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding Premium Collection.
17. It is concluded that, the highest i.e. 36.67% of the sample employees of
SBI from rural parts of Marathwada have opined that the performance
regarding Product Specifications is ‘Good’, whereas highest i.e.
32.50% among the sample employees of SBI from urban parts of
Marathwada have opined that the performance regarding Product
Specifications is ‘Very Good’.
18. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding Product Specifications.
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 19. It is concluded that, the highest i.e. 37.92% of the sample employees of
SBI from rural parts of Marathwada have opined that the performance
regarding Complaint Redressal is ‘Good’, whereas highest i.e. 34.58%
among the sample employees of SBI from urban parts of Marathwada
have opined that the performance regarding Complaint Redressal is
‘Very Good’.
20. It is concluded that, there is significant difference between the opinions
of sample employees of SBI from rural parts of Marathwada and
sample employees of SBI from urban parts of Marathwada regarding
the performance regarding Complaint Redressal.

7.3.3 Conclusions Drawn from Customer Responses

Various conclusions drawn from Bank customer responses are as follows:

1. It is concluded that, highest i.e. 36.25% of the rural customers of SBI of

have opined that General Banking Services of the bank is ‘Moderately
Satisfactory’ whereas highest i.e. 39.50% of the urban customers of SBI
have opined that General Banking Services of the bank is also ‘Moderately
Satisfactory’.
2. It is concluded that, highest i.e. 42.25% of the rural customers of SBI of
have opined that Interest Paid on Deposits of the bank is ‘Moderately
Satisfied’ whereas, highest i.e. 43.25% of the urban customers of SBI have
opined that Interest Paid on Deposits of the bank is ‘Satisfied’.
3. It is concluded that, highest i.e. 40.75% of the rural customers of SBI of
have opined that Interest Charged on Advances of the bank is ‘Moderately
Satisfied’ whereas, highest i.e. 41.25% of the urban customers of SBI have
opined that Interest Charged on Advances of the bank is ‘Satisfied’.
4. It is concluded that, highest i.e. 33.50% of the rural customers of SBI of
have opined that Bank Timings of the bank is ‘Moderately Satisfied’
whereas, highest i.e. 42.25% of the urban customers of SBI have opined
that Bank Timings of the bank is ‘Satisfied’.
5. It is concluded that, highest i.e. 39.75% of the rural customers of SBI of
have opined that Location of the bank is ‘Satisfied’ whereas, highest i.e.

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 34.50% of the urban customers of SBI have opined that Location of the
bank is ‘Moderately Satisfied’.
6. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the Customer Satisfaction about Bank Services such as:
General Banking Services, Satisfaction about Interest Paid on Deposits,
Satisfaction about Interest Charged on Advances, Satisfaction about Bank
Timings and Location.
7. It is concluded that, highest i.e. 35.75% of the rural customers of SBI of
have opined that Overall Bancassurance Services of the bank is
‘Moderately Satisfied’ whereas highest i.e. 34.25% of the urban
customers of SBI have opined that Overall Bancassurance Services of the
bank is ‘Satisfied’.
8. It is concluded that, highest i.e. 34.50% of the rural customers of SBI of
have opined that Issue of Policy Documents of the bank is ‘Moderately
Satisfied’ whereas, highest i.e. 38.25% of the urban customers of SBI have
opined that Issue of Policy Documents of the bank is ‘Moderately
Satisfied’.
9. It is concluded that, highest i.e. 38.25% of the rural customers of SBI of
have opined that Premium Collection of the bank is ‘Moderately Satisfied’
whereas, highest i.e. 41.25% of the urban customers of SBI have opined
that Premium Collection of the bank is ‘Moderately Satisfied’.
10. It is concluded that, highest i.e. 34.75% of the rural customers of SBI of
have opined that Premium Amount & Period of the bank is ‘Moderately
Satisfied’ whereas, highest i.e. 37.25% of the urban customers of SBI have
opined that Premium Amount & Period of the bank is ‘Satisfied’.
11. It is concluded that, highest i.e. 29.25% of the rural customers of SBI of
have opined that Promotional Activities of the bank is ‘Not Satisfied’
whereas, highest i.e. 34.25% of the urban customers of SBI have opined
that Promotional Activities of the bank is ‘Moderately Satisfied’.
12. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the Customer Satisfaction about Bancassurance Services
such as: Overall of Bancassurance Services, Satisfaction about Issue of
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 Policy Documents, Satisfaction about Premium Collection, Satisfaction
about Premium Amount & Period and Promotional Activities.
13. It is concluded that, highest i.e. 37.50% of the rural customers of SBI of
have opined that Innovative Products of the bank is ‘Moderately Satisfied’
whereas, highest i.e. 43.25% of the urban customers of SBI have opined
that Innovative Products of the bank is ‘Satisfied’.
14. It is concluded that, highest i.e. 41.75% of the rural customers of SBI of
have opined that Product Variety of the bank is ‘Satisfied’ whereas,
highest i.e. 43.25% of the urban customers of SBI have opined that
Product Variety of the bank is ‘Moderately Satisfied’.
15. It is concluded that, highest i.e. 38.75% of the rural customers of SBI of
have opined that Product Flexibility of the bank is ‘Satisfied’ whereas,
highest i.e. 39.50% of the urban customers of SBI have opined that
Product Flexibility of the bank is ‘Moderately Satisfied’.
16. It is concluded that, highest i.e. 43.25% of the rural customers of SBI of
have opined that Product Duration of the bank is ‘Satisfied’ whereas,
highest i.e. 36.50% of the urban customers of SBI have opined that
Product Duration of the bank is ‘Moderately Satisfied’.
17. It is concluded that, highest i.e. 29.75% of the rural customers of SBI of
have opined that Product Maturity Benefits & Bonus of the bank is
‘Satisfied’ whereas, highest i.e. 34.25% of the urban customers of SBI
have opined that Product Maturity Benefits & Bonus of the bank is
‘Moderately Satisfied’.
18. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the Customer Satisfaction about Product Range such as:
Innovative Products, Satisfaction about Product Variety, Satisfaction about
Product Flexibility, Satisfaction about Product Duration and Product
Maturity Benefits & Bonus.
19. It is concluded that, highest i.e. 35.75% of the rural customers of SBI of
have opined that Counseling & Information Provided of the bank is
‘Moderately Satisfied’ whereas highest i.e. 37% of the urban customers of
SBI have opined that Counseling & Information Provided of the bank is
‘Moderately Satisfied’.
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20. It is concluded that, highest i.e. 43% of the rural customers of SBI of have
opined that Follow-up of the bank is ‘Satisfied’ whereas, highest i.e.
36.50% of the urban customers of SBI have opined that Follow-up of the
bank is ‘Moderately Satisfied’.
21. It is concluded that, highest i.e. 39.50% of the rural customers of SBI of
have opined that Gift Items of the bank is ‘Satisfied’ whereas, highest i.e.
37.75% of the urban customers of SBI have opined that Gift Items of the
bank is ‘Moderately Satisfied’.
22. It is concluded that, highest i.e. 45.75% of the rural customers of SBI of
have opined that Guidance of the bank is ‘Satisfied’ whereas, highest i.e.
33.75% of the urban customers of SBI have opined that Guidance of the
bank is ‘Moderately Satisfied’.
23. It is concluded that, highest i.e. 32.75% of the rural customers of SBI of
have opined that Cooperation of the bank is ‘Moderately Satisfied’
whereas, highest i.e. 37.25% of the urban customers of SBI have opined
that Cooperation of the bank is ‘Moderately Satisfied’.
24. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the Customer Satisfaction about Cooperation & Guidance
such as: Counseling & Information Provided, Satisfaction about Follow-
up, Satisfaction about Gift Items, Satisfaction about Guidance and
Cooperation.
25. It is concluded that, highest i.e. 31.50% of the rural customers of SBI of
have opined that Intimation Services of the bank is ‘Moderately Satisfied’
whereas highest i.e. 39.50% of the urban customers of SBI have opined
that Intimation Services of the bank is ‘Satisfied’.
26. It is concluded that, highest i.e. 40.50% of the rural customers of SBI of
have opined that Gestation Period of the bank is ‘Satisfied’ whereas,
highest i.e. 38.50% of the urban customers of SBI have opined that
Gestation Period of the bank is ‘Moderately Satisfied’.
27. It is concluded that, highest i.e. 37% of the rural customers of SBI of have
opined that Interest on Overdues of the bank is ‘Satisfied’ whereas, highest
i.e. 38.25% of the urban customers of SBI have opined that Interest on
Overdues of the bank is ‘Moderately Satisfied’.
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28. It is concluded that, highest i.e. 41.75% of the rural customers of SBI of
have opined that Changes in Policy Mode of the bank is ‘Satisfied’
whereas, highest i.e. 34.25% of the urban customers of SBI have opined
that Changes in Policy Mode of the bank is ‘Moderately Satisfied’.
29. It is concluded that, highest i.e. 34.25% of the rural customers of SBI of
have opined that On-Line Portal of the bank is ‘Moderately Satisfied’
whereas, highest i.e. 38.25% of the urban customers of SBI have opined
that On-Line Portal of the bank is ‘Moderately Satisfied’.
30. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the Customer Satisfaction about After Sales Service such
as: Intimation Services, Satisfaction about Gestation Period, Satisfaction
about Interest on Overdues, Satisfaction about Changes in Policy Mode
and On-Line Portal.
31. It is concluded that, highest i.e. 32.75% of the rural customers of SBI of
have opined that Claim Settlement Period of the bank is ‘Moderately
Satisfied’ whereas highest i.e. 40.75% of the urban customers of SBI have
opined that Claim Settlement Period of the bank is ‘Moderately Satisfied’.
32. It is concluded that, highest i.e. 43.50% of the rural customers of SBI of
have opined that Claim Settlement Procedure of the bank is ‘Moderately
Satisfied’ whereas, highest i.e. 38.25% of the urban customers of SBI have
opined that Claim Settlement Procedure of the bank is ‘Moderately
Satisfied’.
33. It is concluded that, highest i.e. 38.25% of the rural customers of SBI of
have opined that Surrender Value of the bank is ‘Moderately Satisfied’
whereas, highest i.e. 42.25% of the urban customers of SBI have opined
that Surrender Value of the bank is ‘Moderately Satisfied’.
34. It is concluded that, highest i.e. 41.50% of the rural customers of SBI of
have opined that Dues & Penalties of the bank is ‘Satisfied’ whereas,
highest i.e. 36.50% of the urban customers of SBI have opined that Dues
& Penalties of the bank is ‘Moderately Satisfied’.
35. It is concluded that, highest i.e. 34.50% of the rural customers of SBI of
have opined that Loan on Policy of the bank is ‘Moderately Satisfied’

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 whereas, highest i.e. 40.75% of the urban customers of SBI have opined
that Loan on Policy of the bank is ‘Moderately Satisfied’.
36. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the Customer Satisfaction about Claim Settlement such as:
Claim Settlement Period, Satisfaction about Claim Settlement Procedure,
Satisfaction about Surrender Value, Satisfaction about Dues & Penalties
and Loan on Policy.

7.3.4 Conclusions Drawn from Responses of Bank Employees

Various conclusions drawn from Bank Employees’ responses are as follows:

1. It is concluded that, highest i.e. 44.58% of the employees of SBI of rural

branches have opined that the problem of office space is ‘Severe’ whereas
highest i.e. 39.58% of the employees of SBI of rural branches have opined
that the problem of office space is ‘High’.
2. It is concluded that, highest i.e. 46.67% of the employees of SBI of rural
branches have opined that the problem of Parking Space is ‘Severe’
whereas highest i.e. 40.83% of the employees of SBI of rural branches
have opined that the problem of Parking Space is ‘High’.
3. It is concluded that, highest i.e. 42.92% of the employees of SBI of rural
branches have opined that the problem of Separate Space for
Bancassurance is ‘Severe’ whereas highest i.e. 42.50% of the employees
of SBI of rural branches have opined that the problem of Separate Space
for Bancassurance is ‘High’.
4. It is concluded that, highest i.e. 49.17% of the employees of SBI of rural
branches have opined that the problem of Water & Electricity is ‘Severe’
whereas highest i.e. 40.83% of the employees of SBI of rural branches
have opined that the problem of Water & Electricity is ‘Moderate’.
5. It is concluded that, highest i.e. 43.75% of the employees of SBI of rural
branches have opined that the Other Infrastructural Problems is ‘Severe’
whereas highest i.e. 38.75% of the employees of SBI of rural branches
have opined that the Other Infrastructural Problems is ‘High’.

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6. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the infrastructural problems such as: problem of office
space, problem of parking space, problem of separate space for
bancassurance, problem of water & electricity and other infrastructural
problems.
7. It is concluded that, highest i.e. 40.83% of the employees of SBI of rural
branches have opined that the problem of Trained & Qualified Staff is
‘High’, whereas, highest i.e. 36.67% of the employees of SBI of rural
branches have opined that the problem of Trained & Qualified Staff is
‘High’.
8. It is concluded that, highest i.e. 43.75% of the employees of SBI of rural
branches have opined that the problem of Non-Cooperation Between the
Staff is ‘Severe’ whereas, highest i.e. 42.50% of the employees of SBI of
rural branches have opined that the problem of Non-Cooperation Between
the Staff is ‘High’.
9. It is concluded that, highest i.e. 45.83% of the employees of SBI of rural
branches have opined that the problem of Coordination with Managerial
Staff is ‘Severe’ whereas, highest i.e. 46.67% of the employees of SBI of
rural branches have opined that the problem of Coordination with
Managerial Staff is ‘High’.
10. It is concluded that, highest i.e. 47.08% of the employees of SBI of rural
branches have opined that the problem of Motivation is ‘High’ whereas,
highest i.e. 39.58% of the employees of SBI of rural branches have opined
that the problem of Motivation is ‘Moderate’.
11. It is concluded that, highest i.e. 47.92% of the employees of SBI of rural
branches have opined that the Problem of Approaches & Attitudes is
‘Severe’ whereas, highest i.e. 42.92% of the employees of SBI of rural
branches have opined that the Problem of Approaches & Attitudes is
‘Moderate’.
12. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the human resources problems such as: problem of Trained
& Qualified Staff, problem of Non-Cooperation Between the Staff,
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 problem of Coordination with Managerial Staff, problem of Motivation
and Problem of Approaches & Attitudes.
13. It is concluded that, highest i.e. 39.17% of the employees of SBI of rural
branches have opined that the problem of General Working Conditions is
‘Severe’ whereas highest i.e. 47.08% of the employees of SBI of rural
branches have opined that the problem of General Working Conditions is
‘Moderate’.
14. It is concluded that, highest i.e. 40.83% of the employees of SBI of rural
branches have opined that the problem of Welfare Facilities is ‘Severe’
whereas highest i.e. 40.83% of the employees of SBI of rural branches
have opined that the problem of Welfare Facilities is ‘High’.
15. It is concluded that, highest i.e. 39.58% of the employees of SBI of rural
branches have opined that the problem of Power Backup & Air
Conditioning is ‘Severe’ whereas highest i.e. 37.92% of the employees of
SBI of rural branches have opined that the problem of Power Backup &
Air Conditioning is ‘Moderate’.
16. It is concluded that, highest i.e. 39.17% of the employees of SBI of rural
branches have opined that the problem of IT Environment is ‘Severe’
whereas highest i.e. 40% of the employees of SBI of rural branches have
opined that the problem of IT Environment is ‘Moderate’.
17. It is concluded that, highest i.e. 43.33% of the employees of SBI of rural
branches have opined that the Problem of Staff Relations is ‘Moderate’
whereas highest i.e. 47.50% of the employees of SBI of rural branches
have opined that the Problem of Staff Relations is ‘Moderate’.
18. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the problems related with work environment such as:
problem of General Working Conditions, problem of Welfare Facilities,
problem of Power Backup & Air Conditioning, problem of IT
Environment and Problem of Staff Relations.
19. It is concluded that, highest i.e. 42.50% of the employees of SBI of rural
branches have opined that the problem of Special Marketing Team is
‘Severe’ whereas highest i.e. 43.75% of the employees of SBI of rural

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 branches have opined that the problem of Special Marketing Team is
‘High’.
20. It is concluded that, highest i.e. 40.42% of the employees of SBI of rural
branches have opined that the problem of Promotional Activities is
‘Severe’ whereas highest i.e. 42.08% of the employees of SBI of rural
branches have opined that the problem of Promotional Activities is
‘Moderate’.
21. It is concluded that, highest i.e. 42.92% of the employees of SBI of rural
branches have opined that the problem of Advertising is ‘Severe’ whereas
highest i.e. 43.33% of the employees of SBI of rural branches have opined
that the problem of Advertising is ‘High’.
22. It is concluded that, highest i.e. 44.58% of the employees of SBI of rural
branches have opined that the problem of Competition from Private
Agencies is ‘High’ whereas highest i.e. 47.50% of the employees of SBI
of rural branches have opined that the problem of Competition from
Private Agencies is ‘High’.
23. It is concluded that, highest i.e. 42.92% of the employees of SBI of rural
branches have opined that the Problem of Globalization is ‘Severe’
whereas highest i.e. 39.58% of the employees of SBI of rural branches
have opined that the Problem of Globalization is ‘High’.
24. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the Problems Related with Marketing such as: problem of
Special Marketing Team, problem of Promotional Activities, problem of
Advertising, problem of Competition from Private Agencies and Problem
of Globalization.
25. It is concluded that, highest i.e. 35.83% of the employees of SBI of rural
branches have opined that the problem of Induction Training is ‘Moderate’
whereas, highest i.e. 36.67% of the employees of SBI of rural branches
have opined that the problem of Induction Training is also ‘Moderate’.
26. It is concluded that, highest i.e. 38.33% of the employees of SBI of rural
branches have opined that the problem of On the Job Training is
‘Moderate’ whereas, highest i.e. 42.50% of the employees of SBI of rural

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 branches have opined that the problem of On the Job Training is also
‘Moderate’.
27. It is concluded that, highest i.e. 41.25% of the employees of SBI of rural
branches have opined that the problem of Probationary Training is ‘High’
whereas, highest i.e. 49.58% of the employees of SBI of rural branches
have opined that the problem of Probationary Training is ‘Moderate’.
28. It is concluded that, highest i.e. 36.67% of the employees of SBI of rural
branches have opined that the problem of Soft Skills Training is ‘High’
whereas, highest i.e. 40.42% of the employees of SBI of rural branches
have opined that the problem of Soft Skills Training is ‘Moderate’.
29. It is concluded that, highest i.e. 43.75% of the employees of SBI of rural
branches have opined that the Problem of Computer Training is ‘Severe’
whereas, highest i.e. 40.83% of the employees of SBI of rural branches
have opined that the Problem of Computer Training is ‘High’.
30. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the Problems Related with Training such as: problem of
Induction Training, problem of On the Job Training, problem of
Probationary Training, problem of Soft Skills Training and Problem of
Computer Training.
31. It is concluded that, highest i.e. 44.17% of the employees of SBI of rural
branches have opined that the problem of Poverty is ‘High’ whereas,
highest i.e. 37.08% of the employees of SBI of rural branches have opined
that the problem of Poverty is ‘Moderate’.
32. It is concluded that, highest i.e. 39.58% of the employees of SBI of rural
branches have opined that the problem of Lack of Education of customers
is ‘high’ whereas, highest i.e. 34.17% of the employees of SBI of rural
branches have opined that the problem of Lack of Education of customers
is ‘Moderate’.
33. It is concluded that, highest i.e. 43.75% of the employees of SBI of rural
branches have opined that the problem of Customer Awareness about
Insurance is ‘Severe’ whereas, highest i.e. 37.92% of the employees of
SBI of rural branches have opined that the problem of Customer
Awareness about Insurance is ‘High’.
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 34. It is concluded that, highest i.e. 48.33% of the employees of SBI of rural
branches have opined that the problem of Irregular Premium Payment is
‘Severe’ whereas, highest i.e. 42.50% of the employees of SBI of rural
branches have opined that the problem of Irregular Premium Payment is
‘High’.
35. It is concluded that, highest i.e. 42.92% of the employees of SBI of rural
branches have opined that the Problem of Negativity is ‘Severe’ whereas,
highest i.e. 39.58% of the employees of SBI of rural branches have opined
that the Problem of Negativity is ‘High’.
36. It is concluded that, there is significant difference between the opinions of
SBI employees from rural branches and SBI employees from urban
branches about the Problems Related with Poverty & Education such as:
problem of Poverty, problem of Lack of Education of customers, problem
of Customer Awareness about Insurance, problem of Irregular Premium
Payment and Problem of Negativity.

7.4 Testing of Hypothesis

Hypothesis of the present study are tested and proved as follows:

1. The employees and the customers of State Bank of India are not well aware
about bancassurance.
This hypothesis is evident from the discussions and analysis of opinions of
customers as well as the employees of SBI presented in Chapter 4, 5 & 6.
2. The performance of State Bank of India in Marathwada region is improving its
performance with reference to bancassurance.
This hypothesis is tested and proved on the basis of the analysis in chapter 4
Table No. 4.1 to 4.20.
3. Poverty and unemployment is hurdle in bancassurance.
This hypothesis is evident from table No. 6.36 to 6.40
4. The employees of State Bank of India in Marathwada Region are facing
various problems with reference to infrastructure, human resources, work
environment, training, marketing and poverty & educational issues and that
there is significant difference between the opinions of employees of Rural and
Urban branches of State Bank of India.
This hypothesis is evident from table No. 6.1 to 6.42
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 5. The growth prospects of bancassurance in SBI branches in Marathwada region
are not satisfactory unless solution to the problems provided.
This hypothesis is evident from table No. 4.15 to 4.32.

7.5 Recommendations

1. The State Bank of India should make an arrangement to appoint

‘Relationship Manager’ so as to develop the good and healthy relations
with the customers in view of good improvement in business figures of
bancassurance.
2. Special attention should be given by the bank authorities to develop
customer interest in bancassurance by arrangement of customer meet.
There should be a customer meet once in a three months for the
improvement the bancassurance business.
3. Bank authorities should have to focus on the issue of portfolio
management. The insurance policies offered to the customer should be
adequate so as to meet the customer needs. The policies offered by the
bank should be affordable to the customer and should fulfill all the
customer needs.
4. SBI Officials working in bancassurance segment should focus on the issue
of customer problems. The officials have to communicate properly with
the customers regarding their doubts and problems with reference to the
insurance policy.
5. Bancassurance is the additional work and income source of bank. The
performance in this is beneficial to the book profit of the bank. Keeping in
mind that there should be good business in bancassurance the officials
working in bancassurance should have to work hard and try to promote
good proposals to the right customers.
6. In view of the era of advertisement, the promotional activities should be
conducted for bancassurance services. It is recommended that, SBI in
Marathwada region should improve their promotional activities of
bancassurance services. Special region wise advertisement campaigning
can also be conducted for this purpose.

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7. The bank can be maintain the advertising material for bancassurance
products at all their ATMs, SBI in Touch Counters and Collection Centers.
Bank has to promote the insurance products with good advertisement in
urban places as well as semi-urban and rural places also.
8. Bank officials should focus to render the information about the insurance
products to farmers, workmen and other rural customers so as to improve
the inclusion of this population under insurance cover.
9. Customer satisfaction is depending upon the speed of services rendered.
The bancassurance service is the profit earning service. Thus, the speed of
service should be maintained by the SBI. It is recommended that, SBI in
Marathwada region should improve speed of working in bancassurance.
10. There are many aspects of bancassurance such as: speed of service, quality
of service, follow-up and intimation services. These services are pro
customer services. The customers will always be happy if these types of
services given by the bank are according to their needs and expectations.
It is recommended that, SBI in Marathwada region should improve their
overall bancassurance services.
11. The customers should be communicated in proper manner by the bank
officials regarding bancassurance. The customers of bancassurance have
the right to know every detail about the insurance product they have
purchased from the bank. It is recommended that, SBI in Marathwada
region should communicate with the customers regarding policy
documents, premium, premium payment mode, maturity benefits, bonus,
loan facilities and other aspects related with the bancassurance products.
12. It is recommended that, SBI in Marathwada region should improve their
after sales services especially about claim settlements & premium
intimations.
13. It is recommended that, SBI in Marathwada region should improve the
premises related infrastructure facilities with a view to provide
comfortable atmosphere for the employees with a view to cope with the
changing conditions of banking sector after globalization.
14. It is also recommended that, welfare facilities connected with
infrastructure should be improved by SBI in Marathwada region.
Particularly sufficient office space has to be made available for proper
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 office lay out of the bank branches especially for bancassurance and space
for movement.
15. It is recommended that, sufficient provision should be made for drinking
water with the facility of RO system, and water cooling system by SBI in
Marathwada region.
16. It is recommended that, sufficient provision should be made for standard
of toilets with regular cleaning, and provision of sufficient water by SBI in
Marathwada region.
17. It is recommended that, sufficient provision should be made for power
backup to keep the working condition good and healthy by SBI in
Marathwada region.
18. It is recommended that, schemes of additional incentives should be
properly formulated and implemented with a view to motivate the
employees for business development especially for bancassurance section.
Target related incentives can be given by SBI in Marathwada region.
19. It is recommended that, various welfare facilities, incentives, bonus, perks,
various types of loans, travelling allowances etc. should be provided to the
staff members those who are working in bancassurance.
20. The working conditions in a branch should be good, healthy and joyful.
The work environment should be pleasant so as to make customers happy.
It is recommended that the SBI in Marathwada region should improve
their working conditions.
21. It is recommended that, the SBI in Marathwada region should provide
proper training facilities for bancassurance business. This includes
classroom training, on the job training, probation training etc. should be
improved. Training colleges and training centers can be established at
various places. Out sourcing can also be done for this purpose.
22. Performance appraisal and performance rating system should be adopted
for those employees who are working in bancassurance. It is recommended
that, the performance appraisal and performance rating system should be
improved and should be revised by SBI in Marathwada region. The reward
should be given to the employees for best achievement.
23. Work culture needs be improved by SBI in Marathwada region. For this
purpose quality circles can be formed within the organization with a view
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 to improve morale of the employees with a view to cope with the
improvement in bancassurance business.
24. The relationship between the staff should be friendly. There should not be
any disputes and conflicts. It is recommended that, the senior authorities of
SBI should try to reduce their internal conflicts with a view to create
healthy atmosphere in the branches.
25. It is recommended that, the banks should try to aware its customers about
bancassurance with arranging special campaigning programs. There should
be good advertising support for promotion of insurance products.
26. Insurance market is a global market. There are No. of foreign companies
working in insurance sector in India. SBI bancassurance has to be ready to
face the competition. It is also recommended that, the SBI in Marathwada
region should focus on the bancassurance sector to compete the global
competition.

Bancassurance offers tremendous scope to increase new business by the

insurance companies. The business flows from untapped market areas which are not
yet ventured into. The geographical coverage of operations increases as the banks
have larger areas of operations as compared to direct agency channel of insurance
companies. Any insurance company joining hands with a bank will be able to provide
a wide range of products to attract new base of customers. Both retention of existing
customers and canvassing of new ones can be attempted primarily because of
supplementing the banking products which widens the range of offerings.
Thus, the researcher has in this chapter given fulfillment of objectives. Also
the researcher has presented findings and conclusions. Thereafter the testing of
hypothesis is stated and recommendations also given. It is hoped that this research
will helpful for betterment in working style of SBI especially for bancassurance
purpose and will open new avenues in the field of bancassurance.

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