Determinants of Bancassurance Adoption in Emerging Economies: Qualitative Evidence from Uganda
This study was conducted to establish the determinants of bancassurance adoption in emerging economies. The research adopted a qualitative approach based on interviews as a main form of data collection. The study pursued an inductive approach in order to generalize the results. In the analysis process, NVIVO software was used to analyze in detail the different qualitative responses obtained from the data collection phase. The research concentrated primarily on urban Kampala, which is endowed with the majority of commercial banks. This study provides a good insight into the factors (both internal and external) banks consider essential while providing the bancassurance service. As a result other prospect banks can be guided by these factors in their need to provide the bancassurance service. The research explores the supply side of the determinants banks focus on while providing bancassurance. This is new as the majority of studies take a look at the banks’ demand-side perspective. In addition, the challenges faced by banks in offering bancassurance while providing alternatives to prospective banks are being included in the adaptation of bancassurance. The research is purely qualitative as opposed to most previous findings, which are either solely quantitative or partly quantitative and partly qualitative with respect to the determinants of the adoption of bancassurance. Specifically, the focus on bancassurance research in Uganda is also new and original, since bancassurance is new in Uganda.
Adger, W. N., Brown, K., Fairbrass, J. & Jordan, A. (2004). Governance For Sustainability: Towards A ‘Thick’ Understanding of Environmental Decision Making, 35(6), 1095-1110.
Ahmadinia, H., Karim, M. & Ofori, E. (2015). Primary analysis of information distribution at walkbase Company: Developing an information strategy. The Journal of Industrial Distribution & Business, 6(4), 5-16. DOI: https://doi.org/10.13106/ijidb.2015.vol6.no4.5.
Al-Khalifah, A. (2018). The strategic stabilization of private banks and insurance company in the financial service sector. Journal of Humanities Insights, 2(04), 161-166.
American Association for the Advancement of Science. (2006). Project 2061 - Atlas of Science Literacy. Retrieved from http://www.project2061.org/publications/atlas/
Arora, A. & ain, M. (2013). An analysis on contribution of bancassurance on financial performance of Bank of India. Journal of Economics and Sustainable Development, 4(6), 67-79.
Arthur, G. & Iris, C. (2003). Assymetric Information, Financial Intermediation and the Monetary Transmission Mechanism. A critical Review. Working Paper, 3(19), 5-16.
Bank of Uganda. (2017). Promoting Financial Stability, 2016/17 Annual report. Retrieved from Kampala:
Bank of Uganda. (2018). Promoting Financial Stability, 2017/18 Annual report. Retrieved from Kampala:
Bergendahl, G. (1995). The profitability of bancassurance for European banks. International Journal of Bank Marketing, 13(1), 17-28. DOI: https://doi.org/10.1108/02652329510075427
Claessens, S. (2003). Benefits and costs on integrated financial services provision in developing countries. Brookings-Wharton papers on financial services, 1, 85-139. DOI: https://doi.org/10.1353/pfs.2003.0002
Claessens, S. (2014). Benefits and costs on integrated financial services provision in developing countries. Brookings-Wharton papers on financial services, 1, 85-139.
Cresswell, K. M. (2011). Implementation and adoption of the first national electronic health record: a qualitative exploration of the perspectives of key stakeholders in selected English care settings drawing on sociotechnical principles. (PhD), The University of Edinburgh, Edinburgh.
Creswell, J. W. (2009). Research design: Qualitative, quantitative, and mixed methods approaches (Vol. 3rd ed.). CA:Sage: Thousand Oaks.
Department of Education. (2003). National Carriculum Statement Grades 10-12 (General): Mathematics. Retrieved from Government of South Africa:
Falk, J. & Storksdieck, M. (2005). Using the contexual model of learning to understand visitor learning from a science centre exhibition. Science Education, 89(5), 744-778. DOI: https://doi.org/10.1002/sce.20078
Fan, C. K., Lai, H. & Lu, W. (2013). An Evaluation of Key Factors for Bancassurance Success. International Journal of Application or Innovation in Engineering & Management (IJAIEM), 2(12), 190-197.
Glaser, S. (2018). The Death of Open Access in Lake Victoria. Retrieved from https://securefisheries.org/blog/death-open-access-lake-victoria
Guttentag, J. M. & Lindsay, R. (1968). The Uniqueness of Commercial Banks. Journal of Political Economy, (71), 991-1014. DOI: https://doi.org/10.1086/259464
Heather, K., Laschinger, S., Finegan, J. E., Shamian, J. & Wilk, P. (2004). A longitudinal analysis of the impact of workplace empowerment on work satisfaction. Journal of Organizational Behavior, 25, 527–545 527-545.
HERFELD, C. (2012). The potentials and limitations of rational choice theory: an interview with Gary Becker. Erasmus Journal for Philosophy and Economics, 5(1), 73-86. DOI: https://doi.org/10.23941/ejpe.v5i1.101
IRA. (2016). Annual Insurance Market Report. Retrieved from Kampala, Uganda:
IRA. (2018). Annual Insurance Market Report. Retrieved from Kampala:
Kayonde, L. (2017). Bancassurance Insights for the financial services Eye, Stanbic Bank Uganda - August.
Kombo, J. N. (2019). Determinants of the Adoption of Bancassurance Business Models by Commercial Banks in Kenya. Retrieved from.
Loechel, H., Brost, H. & Li, H. (2009). Benefits and Costs of Integrated Financial Services Providers (IFSP)–State-of-the-Art in Research. DOI: https://doi.org/10.2139/ssrn.1718177
Lovelin, P. & Sreedevi, V. (2014). Preference of Bancassurance. Journal of Business and Management, 16(1), 08-13.
MAAF. (2011). Department Of Fisheries Resources Annual Report 2010/2011. Retrieved from Kampala:
Magelah, P. & Ntambirweki-Karugonjo, B. (2014). YOUTH UNEMPLOYMENT AND JOB CREATION IN UGANDA: Opportunities And Challenges. Retrieved from Kampala:
Mwangi, J. W. (2010). An assessment of the Determinants of growth of Bancassurance in Kenya.
Nyakomitta, G. O. (2017). Challenges Faced By Commercial Banks in the Bancassurance Market in Kenya. Retrieved from School of Business, University of Nairobi:
Omondi, R. (2013). Determinants of adoption of bancassurance by commercial banks in Kenya.
Pantano, E. & Timmermans, H. (2014). What is smart for retailing? Procedia Environmental Sciences, 22, 101-107. DOI: https://doi.org/10.1016/j.proenv.2014.11.010
Ritchie, J., Lewis, J., Nicholls, C. M. & Ormston, R. (2013). Qualitative research practice: A guide for social science students and researchers. sage.
Robertson, F. & Samy, M. (2015). Factors affecting the diffusion of integrated reporting – a UK FTSE 100 perspective, Sustainability Accounting. Management and Policy Journal, 6(2), 190-223.
Stake, R. E. (2000). Case Studies In N. K. Denzin & Y. S. Lincoln (Eds.), Handbook of Qualitative Research. Thousand Oaks, CA: Sage.
Yin, R. K. (2008). Case Study Research: Design and Methods. California: Sage Publication Inc.
Copyright (c) 2020 Eva Mpaata, Rachel Mindra, Denis Ignatius Oula
This work is licensed under a Creative Commons Attribution 4.0 International License.
Author (s) should affirm that the material has not been published previously. It has not been submitted and it is not under consideration by any other journal. At the same time author (s) need to execute a publication permission agreement to assume the responsibility of the submitted content and any omissions and errors therein. After submission of a revised paper in the light of suggestions of the reviewers, editorial team edits and formats manuscripts to bring uniformity and standardization in published material.
This work will be licensed under Creative Commons Attribution 4.0 International (CC BY 4.0) and under condition of the license, users are free to read, copy, remix, transform, redistribute, download, print, search or link to the full texts of articles and even build upon their work as long as they credit the author for the original work. Moreover, as per journal policy author (s) hold and retain copyrights without any restrictions.