Policyholders’ Perception towards Service Quality of Life Insurance Companies – A Study with reference to Tamilnadu

Abstract

The current objective of the insurance industry is to retain the customers and to provide quality service since customer satisfaction has been achieved. Customer Satisfaction is important to stay in competition because satisfied customers enhance profitability. In this context, the present study on Service quality of Life Insurance companies- an empirical survey, has been conducted. A sample of 1254 Life Insurance policyholders has been purposively selected for the present study. The data collected were analyzed by using statistical tools like the Factor analysis, ANOVA, and the correlation coefficient. The present study identifies eight service quality factors such as Employee Competence, Credibility, Timeliness and Promptness, Convenience, Accessibility, Communication, Customer Orientation, and Responsiveness. The analyses revealed that the demographical variables of the respondents and the eight service quality factors are related.