EFFECT OF BANK PRODUCT DIVERSITY ON THE ADOPTION OF BANCASSURANCE BY COMMERCIAL BANKS IN KENYA: CASE STUDY OF TEIR ONE COMMERCIAL BANKS IN NAIROBI CENTRAL BUSINESS DISTRICT
EFFECT OF BANK PRODUCT DIVERSITY ON THE ADOPTION OF BANCASSURANCE BY COMMERCIAL BANKS IN KENYA: CASE STUDY OF TEIR ONE COMMERCIAL BANKS IN NAIROBI CENTRAL BUSINESS DISTRICT
Abdifatah Khalif Hussein
School of Business and Economics, Kenya Methodist University, Kenya
Barbara Namiinda
School of Business and Economics, Kenya Methodist University, Kenya
Moses Murithi
School of Business and Economics, Kenya Methodist University, Kenya
ABSTRACT
The purpose of the study is to analyze the effect of bank product diversity on the adoption of banc assurance by commercial banks in Kenya. The study is based on the Modern Portfolio Theory. This study used the descriptive survey research design. The target population is made up of 77 Business Development Officers and 64 Operations Officers who are under the bancassurance department in 8 Tier 1 commercial banks in Nairobi’s Central Business District.The study has used census method where by all the 141 respondents are given the questionnaire. The study has used both primary and secondary data. Primary data has been collected using questionnaires while secondary data has been obtained from organizations’ published reports, documentaries, and newsletters, all available in both printed and softcopies. Data analysis has been done with the help of SPSS version 25.0. The study revealed the presence of a positive relationship (r=0.215, p=0.0012) between the bank product diversity and the adoption of bancassurance by commercial banks in Nairobi Central Business District. The relationship was found to be statistically significant at p
