




































Indian Journal of Finance and Banking 

 Vol. 4, No. 4; 2020 

                                       ISSN 2574-6081   E-ISSN 2574-609X 

Published by CRIBFB, USA 

 

30 

EMPATHY OF THE BANCASSURANCE CHANNEL:  

AN EMPIRICAL STUDY 
 

 

Dr. Mousumi Choudhury 

Assistant Professor 

Department of Business Administration 

University of Science and Technology 

Meghalaya-793101, India  

E-mail: mousumichoudhury6@gmail.com 

 

Dr. Ranjit Singh 

Associate Professor 

Department of Management Studies 

Indian Institute of Information Technology, Allahabad 

Prayagraj-211015, Uttar Pradesh, India 

E-mail: ranjitsingh@iiita.ac.in 

 

Ms. K. Kajol 

Research Scholar 

Department of Management Studies 

Indian Institute of Information Technology, Allahabad 

Prayagraj-211015, Uttar Pradesh, India 

E-mail: rsm2018003@iiita.ac.in 

 

Dr. Shashi Kant Rai 

Assistant Professor 

Department of Management Studies 

Indian Institute of Information Technology, Allahabad 

Prayagraj-211015, Uttar Pradesh, India 

E-mail: shashikant@iiita.ac.in 

 

 

ABSTRACT 

Purpose: The purpose of the study is to assess the customers’ perception regarding empathy 

exhibited by the bancassurance channel and factors affecting it. 

 

Design/Methodology/Approach: Using random sampling, the data was collected from customers 

of several branches of State bank of India in Guwahati city of Assam, who have availed life 

insurance services from these branches. Tool of structured questionnaire was used to collect 

primary data. Mean, standard deviation, regression analysis was used to analyze the data and 

draw logical conclusions.  

 

mailto:mousumichoudhury6@gmail.com
mailto:ranjitsingh@iiita.ac.in
mailto:rsm2018003@iiita.ac.in
mailto:shashikant@iiita.ac.in


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Findings: The study shows that customer perceives bancassurance channel to have a high level 

of empathy towards customers. It was also found that none of the demographic variables 

considered in the study have any impact on influencing perception. Therefore, policymaker can 

adopt one fits all approach in the case of demographic aspects to improve the empathetic nature 

showed by the bancassurance channel. 

 

Research Limitations: The study takes into consideration the customers who have bought Life 

insurance service from various branches of State Bank of India, Guwahati, Assam, India. 

 

Originality: The study is first of its kind in assessing customer’s perception of empathy shown by 

the bancassurance channel. The study will be useful for researchers, academicians and those 

working in the area of bancassurance and in their understanding about factors influencing 

customer experience, satisfaction and retention strategy. 

 

Major Conclusion: The study finds that customers of the bancassurance channel perceive that 

the channel demonstrates high empathy. Therefore, policymaker can advocate for an increase in 

penetration of life insurance through the bancassurance channel. As there is no association 

between the demographic factors and customers’ perception towards empathy shown by the 

bancassurance channel, policymaker can adopt one fits all approach in the case of demographic 

aspects to improve the empathetic nature showed by the bancassurance channel. 

 

Keywords: Bancassurance, Bank, Empathy, Employees, Insurance.   

 

INTRODUCTION 

Bancassurance is a business model to sell insurance products to bank‟s customers through banks 

branch network (Sharma et al., 2012; Aggrawal, 2004; Malik, 2014; Neelamega & Veni, 2009; 

Viswanadham, 2005; Venugopal, 2011). Of late, globalization, liberalization, and technological 

advances have turned customers demanding, thus raising the concept of consumerism and there 

is a very high probability for customers to switch to the competitors‟ product if the desired level 

of satisfaction is not achieved. Banks are also not an exception to this and therefore, they are 

leaving no stone unturned to retain their customers (Aksoy, 2013; Giovanis & Athanasopoulou, 

2018; Tsoukatos & Rand, 2006; Vera & Trujillo, 2017; Wieseke et al., 2012). It is found that the 

key to a successful business is satisfied customers (Kristensen et al., 1992; Zeithaml et al., 1996; 

McColl-Kennedy & Scheider, 2000). 

Parasuraman et al. (1988) have shown the significant impact of service quality on 

customer satisfaction. He identified five dimensions of service quality i.e., reliability, 

responsiveness, tangibility, assurance and empathy. Choudhury and Singh (2015a); Choudhury 

and Singh (2015b) and Choudhury and Singh (2016) have studied the measurement of reliability, 

responsiveness, and assurance dimension of bancassurance and its impact thereon, however, 

empathy and its measurement has not yet been exclusively dealt by any specific studies and 

thereof, in this study, this dimension is exclusively addressed. Among the SERVQUAL 

dimensions, empathy and security are significantly related to customer satisfaction in the 

banking industry (Islam & Ali, 2011).  Empathy impacts customer satisfaction (Bahia & Nantel, 

2000; Rijwani, et al., 2017; Zaim et al., 2013). Siddiqi (2011) found that empathy had the highest 

positive correlation with customer satisfaction. 



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Empathy is defined as “a person‟s ability to sense another‟s thoughts feelings, and 

experiences, to share other‟s emotional experience, and to react to the observed experiences of 

another person” (Wieseke et al., 2012; Davis 1996; Rogers 1959; Duan & Hill 1996; Moore, 

1990; Redmond, 1989). Several researchers highlighted the importance of the empathy 

dimension in respect of establishing better customer employee communication (Markovic et al., 

2015; Solomon et al., 1985; Surprenant & Solomon, 1987). Empathic workers completely 

comprehend their clients' needs and are subsequently ready to tailor their interactive behavior to 

a particular client (Giacobbe et al., 2006; Pettijohn et al., 2011; Weitz, 1978; Gremler & 

Gwinner, 2008). Coan (1984) inferred that empathy is a switching barrier for customers (DeWitt 

& Brady 2003). Empathy is an essential requirement for providing successfully the desired 

services (Parasuraman et al., 1988; Zeithaml et al., 1996; Gabbott & Hogg 2001).  

The empathy of employees has a significant impact on customer satisfaction (Markovic et 

al., 2015; Wieseke et al., 2012, Daniels, et al., 2014; Meneses & Larkin, 2012). In the case of the 

banking business, a significant number of communications between employees and customers 

took place to complete various procedures (Chakrabarty, et al., 2012; Lee, et al., 2011). The 

empathy shown by an employee to customer contributes positively to satisfaction of customer 

(Gorry & Westbrook, 2011; Lee et al., 2011; Homburg et al., 2009; Boorom et al., 1998; Comer 

& Drollinger 1999; Drollinger et al., 2006; Pilling & Eroglu, 1994). The combined effect of all 

these is free word-of-mouth publicity by the customers and repurchase of the same brand by the 

same customers (Barnes et al., 2016; Barnes et al., 2015; Nyadzayo & Khajehzadeh, 2016). 

However, lacks of empathy can damage customers‟ perception of the service quality of a brand 

(Abbasi &Alvi, 2013; Agnihotri & Krush, 2015). Demographic factors also affect the customers‟ 

perception regarding empathy of the bancassurance channel but with a varying degree 

(Choudhury & Singh, 2018).  

Therefore, the policymakers of bancassurance channels need to identify the factors that 

positively influence customer‟s perception regarding empathy shown by employees. This will 

help the bancassurance channel in generating a competitive advantage over its competitors. This 

would further help a bank in designing a framework that will contribute to form a positive 

perception of customers regarding empathy shown by the bancassurance channel. Banks earn 

significant non-interest income through the bancassurance channel. This makes the 

bancassurance channel a profitable business model for banks (Leepsa & Singh, 2016; Leepsa & 

Singh, 2017). Thus, it becomes vital to know the customer‟s perception towards employees‟ 

empathic manner in the bancassurance channel as it elevates the level of satisfaction among 

customers (Weitz, 1981). 

Hence a study on measuring customer‟s perception regarding empathy shown by 

bancassurance channel is important to reveal the customers‟ perception regarding the empathetic 

nature of employees of bancassurance channel and for policy recommendation. The key 

objectives of the study are:   

i. To assess customers‟ perception regarding empathy shown by the bancassurance 

channel; 

ii. To study the impact of demographic factors on customers‟ perception regarding 

empathy in the bancassurance channel. 

Key measurable questions that address these objectives are as follows: 

a. What is the perception of customers towards the empathy shown by the 

bancassurance channel? 



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33 

b. Is there any impact of demographic variables on customers‟ perception towards 

empathy shown by the bancassurance channel? 

The rest of the paper is ordered as follows: Section 2 presents a review of related studies, 

section 3 consists of data and methodology, section 4 describes the analysis and findings, section 

5 presents the conclusion and policy implications of the study.  

 

REVIEW OF RELATED STUDIES 

There have been many studies documenting the importance of empathy and its measurement in 

several industries. 

Empathy leads to the continuous use of banking services by its customers (Van Iwaarden 

et al., 2003; Lo et al., 2010; Nupur 2010; Santhiyavalli, 2011; Shanka, 2012; Devi & Ramburuth,  

2012). Ilyas (2013) and Rajalakshmi (2016) found that empathy is one of the most significant 

factors considered by customers while assessing service quality. Empathy helps in bringing 

customer satisfaction (Lau et al., 2013; Hamzah et al., 2017). Customers have a favorable 

perception regarding the bancassurance channel (Singh & Choudhury, 2017).  

Barot et al. (2012) found that an insurance company wins customers based on empathy, 

responsiveness, and corporate image. Empathy has a role in influencing the customer perception 

in respect of service quality in the life insurance industry (Singh et al., 2014). Empathic services 

with the help of tangibles lead to and improve customers‟ satisfaction (Jothi, 2016). Anandhi 

(2016) found that the most important service quality dimension in respect of life insurance 

companies is reliability and empathy dimension. 

Empathy helps in building positive emotions toward the brand (Lee et al., 2011). 

Employee‟s ability to understand customer emotions, expectations, and responding accordingly 

in the coordination with appropriate interactive behaviors increases loyalty towards the brand 

(Jones & Shandiz, 2015). Empathic employees have the ability to provide personalized 

assistance to customers (Wieseke et al., 2012) resulting in higher customer satisfaction. The 

empathetic employee develops a long-lasting relationship between customers and the brand 

(Agnihotri & Krush, 2015; Itani & Inyang, 2015).  

Age is an influences customer perception of service quality (Homburg & Giering, 2001; 

Siu & Cheung, 2001; Kumbhar, 2011; Ganesan-Lim et al., 2008; Ahmad et al., 2010). However, 

Elangovan and Sabitha, (2011) and Ramez (2011) observed no such relationship between age 

and service quality perception. Min and Khoon (2013) found that male and female customers to 

be different in their perceptions about the dimensions of service quality. But there exist a few 

studies that report no significant influence of gender on service quality perceptions e.g., 

Ganesan-Lim et al. (2008); Kumari and Rani (2011) and Kumbhar (2011). Marital status is one 

important factor affecting the customers‟ perception regarding service quality (Sasikala, 2013). 

However, there exist a few studies that report no such relationship (Anand & Selvaraj, 2012). 

Some studies also found income to be a significant influence of customer's perception of service 

quality (Siu & Cheung 2001; Kumbhar, 2011). A few studies, however, have found no 

significant relationship between the income of customers and their perception regarding service 

quality (Elangovan & Sabitha, 2011; Anand & Selvaraj, 2012; Dewan & Mahajan, 2014). The 

relationship of service quality perceptions with education level is indicated by studies such as 

Kumari and Rani (2011); Kumbhar (2011) and Min and Khoon (2013). A few studies, on the 

other hand, show no such relationship between educational level and service quality perception 

(Elangovan & Sabitha, 2011; Anand & Selvaraj, 2012; Dewan & Mahajan, 2014). Safakli (2007) 

and Kumbhar (2011) found the occupation of customer have an impact on the service quality 



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perceptions. In contrast, a few studies have found no such differences prevailing in customers' 

quality perceptions concerning for the occupation (Urban & Pratt, 2000; Kumari & Rani, 2011). 

It is evident from the above discussion that several studies have been carried out on 

empathy displayed in the banks, insurance, and other industries. However, in respect of 

bancassurance no such study exists. Thus, there is a need to study the empathy exhibited in the 

context of bancassurance and its related aspects. Moreover, conducting this kind of study in the 

context of India is another important dimension because, in the Indian context, limited studies 

are conducted. This study is expected to fill all these gaps. Given the mixed findings of past 

studies regarding demographic profile‟s influence on customer perception of service quality, the 

present study attempts to study the impact of demographic variables on customers‟ perception 

towards empathy dimension of service quality in bancassurance channel. 

 

DATA AND RESEARCH METHODOLOGY 

The present study is a descriptive one. The 33,31,050 numbers of customers as of 31
st
  

March 2019 availing life insurance services from the 37 branches of the State Bank of India, 

Guwahati, Assam constitute the population of the study. A sample of 345 customers was chosen 

using a simple random sampling method at a 95% level of confidence and a 5% confidence 

interval. A structured questionnaire specifically designed to measure the customers‟ perception 

regarding empathy shown by the employees of the bancassurance business channel was used to 

collect primary data. Four numbers of variables were identified which can be used to measure 

empathy towards the bancassurance channel. The Likert scale was framed using those variables. 

A score was given from 5 to 1 for each of the selected dimensions, where 5 denotes a very high 

level of empathy (strongly agree) and 1 indicates a very low level of empathy (strongly 

disagree).The variables identified through the literature review were „Convenient working hours 

for customers‟, „Working to gain customers confidence‟, „individualized attention to customers‟, 

and „assessing customers‟ actual need of insurance‟. Demographic variables such as age, gender, 

marital status, number of family members, family income, education, and occupation were 

considered to examine the influence of demographic profile on customer‟s perception towards 

empathy shown in bancassurance channel. 

The important statistical tools used in this study were mean, standard deviation; 

Cronbach‟s alpha, and multiple linear regression analysis.  

 

ANALYSIS AND FINDINGS 

The analysis and findings of the study are as follows:  

Measuring Perception of Customers in Respect of Empathy Shown by Bancassurance 

Channel 

The value of Cronbach‟s Alpha, a measure to assess the reliability of the questionnaire, was 

found to be 0.834 for a scale consisting of 4 items. This indicates that the scale used to measure 

empathy is reliable (Nunnaly, 1978) and the items are taken to measure the latent variable, i.e., 

empathy is measuring it.  

 The mean value and standard deviation of all the four variables considered to measure 

empathy of the employees in the bancassurance channel are considered and summarized in table  

 

 

 

 



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   Table 1. Item Statistics with respect to empathy 

 

Particulars Mean 
Standard 

Deviation 

Convenient working hours for customers 3.89 0.444 

Work to gain customers‟ confidence 3.77 0.651 

Individualized attention is given to customers 3.59 0.672 

Assessing customers actual requirement of insurance 3.21 0.796 

Overall Mean 14.46 

Overall standard deviation 2.135 

Source: Compiled by authors from Questionnaire 

 

Table 1 shows that customers perceive the bancassurance channel to be highly empathetic 

in respect to the factors such as „convenient working hours for customers. It is relatively low in 

respect of the factor such as „assessing the actual need for insurance of the customers. 

The scale considered to measure empathy of employees working in the bancassurance 

channel contains 4 items. A score of 5,4,3,2 and 1 was given to the respondents for their 

responses of strongly agree, agree, moderately agree, disagree, and strongly disagree 

respectively. The maximum score a respondent can score in each of the items was 5. Therefore, 

the maximum possible score was 20 (4X5). Similarly, the minimum score a respondent can score 

in each of the items was 1. Therefore, the minimum possible score was 4 (4X1). The difference 

between the maximum and minimum possible score was 16 (20-4). To ascertain the degree of 

empathy at five levels, this range (16) was divided by 5 which come out to be 3.2. Adding 3.2 

with 4 (lowest possible score), the very low level of risk perception range (4-7.2) was obtained. 

Similarly, adding 3.2 with subsequent value, the next higher range was obtained. In table 2, the 

empathy score is interpreted. Singh and Bhowal (2011) and Singh (2012) have framed a similar 

interpretation tables using the similar upper limit exclusive scale.  

 

  Table 2. Interpretation table to interpret the empathy score 

 

Perception score Interpretation 

4-7.2 Very low level of empathy 

7.2-10.4 Low level of empathy 

10.4-13.6 Moderate level of empathy 

13.6-16.8 High level of empathy 

16.8-20 Very high level of empathy 

Source: Compiled by authors from Questionnaire 

 

The overall mean value as per table 1 is 14.46 which falls under the interval of the high 

level of empathy as interpreted in table 2.It can, thus, be inferred that customers perceive 

bancassurance channel to have a high level of empathy in making available insurance- related 

services. This is in the alignment with a study conducted by Vikas (2011). 

Demographic Profile of Customers and Its Impact on Their Perception Regarding 

Empathy Shown by Bancassurance Channel 



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To measure the effect of the demographic profile of customers on their perception 

towards empathy shown by the bancassurance channel, multiple linear regressions were 

performed the result of which is summarized in tables 3 and 4. 

 

          Table 3. Model Summary 

 

Model R R 

Square 

Adjusted R Square The Std. Error of the 

Estimate 

1 0.159(a) 0.025 0.005 0.66722 

Source: Compiled by authors from Questionnaire 

 

Table 3 demonstrates that only 2.5% of the variations in the customers‟ perception 

towards empathy demonstrated by the bancassurance channel of an insurance company is 

explained by the select demographic factors such as age, gender, marital status, number of family 

members, family income, education, and occupation.  

           

          Table 4. Coefficient 

 

Model  Sum of Squares df Mean 

Square 

F Sig. 

1 Regression 3.903 7 0.558 1.252 0.273(a) 

Residual 150.027 337 0.445   

Total 153.930 344    

Source: Compiled by authors from Questionnaire 

 

Table 4 shows that the relationship between the demographic profile of customers and 

their perception towards the empathy exhibited by the bancassurance channel is not significant 

since the p-value of 0.273 is more than the threshold limit of 0.05 to get it accepted in the given 

statistical test. Since the value of R square is very low (.025) and, the p-value is more than 0.05, 

no significant association can be discerned between the demographic profile of the customers 

and their perception towards the empathy shown by the bancassurance channel. 

 

CONCLUSION AND POLICY IMPLICATIONS 

The study finds that customers of the bancassurance channel perceive that the channel 

demonstrates high empathy. This acts as an advantage for the bancassurance channel. The reason 

is that empathetic behavior shown by the bancassurance channel will eventually result in higher 

levels of customer satisfaction (Homburg et al., 2009).Therefore, policymaker can advocate for 

an increase in penetration of life insurance through the bancassurance channel. RBI in 

connotation with IRDA has already passed the guidelines for banks to be a broker of insurance 

services (RBI, 2015).This new regulation will allow each bank to tie up with up to three life 

insurance companies. This brokerage system, thus, will give more freedom of choice to the 

customer of the bank in availing insurance service from the bank. Since the customers perceive 

the bancassurance channel to be empathetic in providing insurance service, therefore, freedom of 

choice will make the customers more inclined and satisfied towards this channel. Life insurers in 

the rural markets have not done well (Vimala & Alamelu, 2018). Rural people do not believe 

ininsurers (Siddiqui & Das, 2017). As the bancassurance channel seems to have high empathy 



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towards customers, therefore, bancassurance channel can be beneficial to tap the untapped rural 

market (Siddiqui & Das, 2017).Bancassurance channel can be made compulsory for Rural 

Banks, Regional Banks, and other Small finance banks operating in rural areas because the rural 

market has tremendous potential, and thus, it can be a good model for bringing financial 

inclusion as well (Choudhury & Singh, 2015c). 

Empathic employees can fully understand the needs of their customers and can tailor the 

communication according to the interest and need of their customers (Giacobbe et al., 2006; 

Pettijohn et al., 2011; Weitz, 1978) which leads to successful service encounter (Boorom et al., 

1998; Comer & Drollinger, 1999; Drollinger, et al., 2006; Pilling & Eroglu, 1994; Barot et al., 

2012) and thereby customer satisfaction (Bahia & Nantel, 2000; Rijwani et al., 2017; Zaimetal., 

2013). Thus, the bancassurance channel should consider appropriate strategies to make the 

employees empathetic towards their customers. Employees can be trained to make capable of 

sensing the customer‟s expectations and emotions and sharing this emotion while interacting 

with customers (Schneider & Schechter, 1991). Employees‟ abilities to sense customer 

expectation can be developed by Role Playing or Mystery shopping method which will give the 

employees scope to keep themselves in the place of customers and to better understand how the 

customers perceive the service encounters (Finn & Kayande, 1999; Grove & Fisk, 1992). An 

approach called „„interaction routing‟‟ can also be implemented to make employees empathetic 

towards customers (Van Dolenet al., 2002).An empathetic approach among employees will also 

influence their emotional intelligence in the workplace (Goleman, 2005). Implementation of the 

IT-Governance framework can also be one such alternative (Singh et al., 2020).  

Through bancassurance, life insurance policies can be sold to the customers of the bank 

who opened their bank account due to the initiative taken by the Government such as Pradhan 

Mantri Jan Dhan Yojana (PMJDY) in India, to bring financial inclusion among the people at the 

grass -root level. Buying a life insurance policy is yet not preferred by most of the people in 

India (Tagra & Dhiman, 2016; Raju & Murugeshwaran, 2017). Creating awareness about life 

insurance can help in bringing this desired change (Banne & Bhola, 2014). Awareness empowers 

people (Bhattacharjee & Singh, 2017; Roy et al., 2017; Singh & Kar, 2011). Bancassurance 

being perceived as empathetic by customers can increase customer‟s awareness about a life 

insurance policy. This is because empathy is a key factor in positively impacting the dynamic 

exchange of information between the customer and a company (Parasuraman et al., 1985 and 

1991). Higher levels of empathy yield stronger and more meaningful interpersonal relationships 

(Rychlak, 1973). Thus, the bancassurance channel can arrange awareness camps, communicate 

properly about the benefits of life insurance policy, and can educate people about the utilities of 

the life insurance policy. 

The present study, however, does not identify any association between the chosen 

demographic factors and customers‟ perception towards empathy shown by the bancassurance 

channel. This indicates that to improve the empathetic nature of bancassurance as perceived by 

the customer, policymaker can adopt one fits all approach in case of demographic aspects (Singh 

& Bhattacharjee, 2010a; Singh & Bhattacharjee, 2010b; Deb & Singh, 2017a, Deb & Singh, 

2017b). 

Further studies can be conducted to identify the association between psychographic 

features of customers and their perception of empathy shown by bancassurance. A comparative 

study can also be conducted to find out the perception of customers regarding empathy shown by 

the bancassurance channel and the traditional channel of buying insurance so that tailor- made 

policies for the bancassurance channel can be framed to enhance empathy of the channel. 



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Volume of insurance premium paid may also have an impact on the overall empathy shown by 

the bancassurance channel. Future study can be directed towards this as it was done by Singh and 

Bhowal (2009).   

 

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