ADOPTION OF DIGITAL TECHNOLOGIES IN BANCASSURANCE: A STUDY IN THOOTHUKUDI DISTRICT

Abstract

The rapid growth of digital technologies has brought significant changes to the banking and insurance sectors, particularly through the emergence of bancassurance. Digital platforms have enhanced the delivery of insurance products by improving accessibility, transparency, and operational efficiency. The present study aims to analyze the adoption of digital technologies in bancassurance services in Thoothukudi District and to examine the level of customer awareness, adoption, and satisfaction towards digital bancassurance. The study is based on both primary and secondary data. Primary data were collected from 180 bank customers using a structured questionnaire, and the data were analyzed using statistical tools such as percentage analysis, t-test, ANOVA, and Chi-square test. The findings reveal that digitalization has positively influenced bancassurance services by reducing paperwork, improving service speed, and enhancing customer convenience. The study also found that gender has no significant influence on most aspects of digital bancassurance, except in the perception of paperwork reduction, while age significantly affects customer satisfaction in terms of quick response and convenience of premium payment. Further, educational qualification was found to have a significant relationship with the problems faced in using digital bancassurance services. The study concludes that although digital bancassurance has gained considerable acceptance in Thoothukudi District, there is a need for greater customer awareness, digital literacy, and trust-building measures to ensure its effective and inclusive adoption.