Review of literature on customer satisfaction in life insurance

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Contents:
  1. The moderating role of switching barriers on customer loyalty in the life insurance industry
  2. Determinants of Satisfaction for General Insurance Products - An Empirical Study in Rajasthan
  3. Much more than documents.
Project Description

The governing body was established to govern the growth of all insurance companies or insurance business in India. Chauduri and Chakraborty stated that the statutory body even emphasized upon the liberalization of the insurance sectors for private both Indian and foreign players in order to infuse fresh capital and become more competitive.

The moderating role of switching barriers on customer loyalty in the life insurance industry

So, the Indian government approved a legislative committee named 'Malhotra Committee' in under the chairmanship of R N Malhotra. This committee was appointed to make a layout for the privatization of life insurance sector. The committee submitted its report in but it took six years to implement it and to decide about the Foreign Direct Investment FDI percentage in Indian insurance sector.

In today's competitive era, satisfied customers are the key for the success of any business. The golden rule of marketing is that "one satisfied customer brings hundred more customers"; so this rule is followed by every business to meet the competition or to survive in the market.

It is true that no business can survive without customers. A satisfied customer is as important for any industry as the nervous system is to human body. So, companies always try to meet the expectations of customers and make them loyal towards the company.

Max NewYork Life Insurance Reviews - New York Life Insurance Customer Reviews

And a loyal customer buys again and again and also recommends its name to others. Customers are important assets in service sectors.

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Determinants of Satisfaction for General Insurance Products - An Empirical Study in Rajasthan

So, the service sector is also known as customer-oriented sector. It is generalized by many authors that satisfied customers are profitable due to their longer, deeper and good relationship with the company. Customer satisfaction is mainly concerned with the overall emotional and behavioral attitude of customers. Satisfaction of customers is helpful to generate repurchasing and loyalty.

From a company's value perspective, fulfilling customer needs is a key source of income to an organization, and achieving complete customer satisfaction is the only key for the company to succeed Upadhyaya and Badlani, As insurance is a service industry, it needs to focus on customer attitudes and attributes. This study would enable to the management to know about the level of customer satisfaction and it helps the management, to take corrective actions.

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Home Vol 7, No 2. Sahaya Beula.

Much more than documents.

A study on customer satisfaction in LIC policies with special reference to thuckalay branch. Sahaya Beula, Dr V. Download this PDF file.