The Revised Guidelines on Bancassurance Operation in Nigeria: Marketing Implications on Patronage of Insurance Products


  • Emma Chukwuemeka Nnamdi Azikiwe University
  • Nebo Gerald Nwora University of Science and Technology


Bancassurance, Customer Loyalty, Customer Patronage, Perceived Service Quality


This study seeks to assess the marketing implication of the revised operational guidelines on bancassurance referral model in Nigeria particularly in terms of how the model can affect customers’ patronage of Insurance companies. The objectives of the study include; (i) to determine the influence of bancassurance referral on customers’ patronage of insurance products; (ii) to ascertain how customer loyalty moderate the influence of bancassurance referral on customers’ patronage of insurance products; and (iii) to assess how the perceived service quality of the deposit money banks moderate the influence of bancassurance referral on customers’ patronage of the insurance products. Quantitative survey research design was adopted for the study. By gathering primary data from 170 banks’ customers and 68 bancassurance desk officers of insurance companies using structured questionnaire; and using structural equation modelling for testing and analyzing the gathered datasets, findings revealed that bancassurance referral model has significant influence on customers’ patronage of insurance products and both customer loyalty and perceived service quality of the banks significantly moderate the influence of bancassurance referral model on customers’ patronage of the insurance products. It was recommended that insurance companies that want to go into bancassurance relationship with any bank in Nigeria should choose banks characterized by large number of loyal customers and high perceived service quality.              


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Author Biographies

Emma Chukwuemeka, Nnamdi Azikiwe University

Nnamdi Azikiwe University Nigeria

Nebo Gerald Nwora, University of Science and Technology

Department of Marketing, Enugu State University of Science and Technology, Enugu State, Nigeria.


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How to Cite

Chukwuemeka, E., & Nwora, N. G. (2019). The Revised Guidelines on Bancassurance Operation in Nigeria: Marketing Implications on Patronage of Insurance Products. SOCIALSCI JOURNAL, 3, 150-163. Retrieved from



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