Modelling service quality Life insurance services that make customers happy and keep them loyal

<p>Marketers in Life Insurance Services have always been concerned with the</p><p>Customer Perceived Service Quality and Behavioural Intentions of the customers. The</p><p>intensified competition has compelled the marketers to be more strategic in acquiring</p><p>dealing and keeping customers. In view of significance of selected constructs present</p><p>study reveals the level of service quality perceived sense of satisfaction and loyalty</p><p>felt by the customers of life insurance providers in India. A relationship model of the</p><p>all the selected behavioural constructs is also purposed and tested with high</p><p>reliability.</p><p>A comprehensive analysis of available literature review laid the foundation of the</p><p>study initially. Later first hand data was accessed from the randomly selected</p><p>respondents from representative population of residents of Delhi and Haryana (NCR)</p><p>who has taken life risks coverages from any of the life insurance service providers.</p><p>The data analyzed portrays agreeable/ good level of Service Quality perceived by the</p><p>customer. Core Services provided to customers comes out as the top rated dimension</p><p>of service quality followed by Human Elements and Process of Service Delivery</p><p>Social Responsibility and lastly Physical Evidence. The customers of life insurance</p><p>services are also found satisfied and loyal with the service providers.</p><p>Further the structural equation established for selected variables confirms significant</p><p>relationships among them. The model developed portrays a significant influence of</p><p>service quality on customer satisfaction. One unit change in Service Quality leads to</p><p>0.61 units change in Customer Satisfaction and 0.57 unit change in Customer Loyalty.</p><p>On the other hand change of 0.23 unit in customer loyalty is derived from change in</p><p>unit of customer satisfaction.</p><p>The marketers were suggested according to the service delivery gaps and probable</p><p>aspects to improve satisfaction and loyalty among customers. Established relationship</p><p>model of service quality customer satisfaction and loyalty may help in further</p><p>researches on gap areas identified.</p>