An Empirical Study on Customers’ Views of Having Voluntary Insurance as a New-product in bank-led Digital-banking Ensuring Risk-free Services

Banking-services in today’s world have been modernized where customers compete for comparative time-saving-options and banks derive for higher profits. In this market, many factors are unpredictable, and customers face perceived-risk (PR) factors. All these have been undermining the prospects of having cashless-society in world-economy country-wise such as Bangladesh. Banks can eliminate this issue by adopting Voluntary Insurance (VI) as a new product in bank-led e-banking, which can ensure risk-free services. It raises question: how do customers feel about this probable new product in bank-led e-banking? Answering the question posed, statistical analysis of customers’ opinions reveals that “age-group†and “occupation-group†of customers have different preferences on the proposed new product. The results also propose that demographic factors impact customers’ preferences for the new product. The findings can attract more users by improving customer’s satisfaction, customer-base, banks benefits including reduction of operational-cost and many more. Thus, this effort is to bring the findings to banking-authorities’ or policymakers’ attentions in Bangladesh.