Abstract
With the increase in risk there is need of insurance to bear the losses. Insurance is the instrument used as the financial protection against various contingency. This paper examines the customer perception towards the General Insurance. A study had been conducted at Gwalior region with the sample of 200 respondents to find out the perception of the customer (policyholders). In this context, the respondents’ opinion on the various related statements were collected with a5 point scaling. Reliability, Factor analysis, multivariate technique had been applied on the data. The result concluded that loyalty, transparency, proficiency, reliable and convenient services are the five factors from the 18 statements on the basis of the expectation of the customers. This study signifies that various customer had different expectation from the insurance company in the studied area. Keywords: Insurance market, General insurance, Customer perception.
Highlights
In today’s era everyone wants safety and protection
Insurance industry is growing industry which started from Life Insurance Corporation (LIC) life insurer and GIC non life insurer companies and due to rise in demand the private sector was allowed into insurance business
The insurance industry in India is regulated by The Insurance Regulatory Development Act (IRDA), which has the object of ensuring effective administration, supervision, regulation and control the business of insurance in India
Summary
In today’s era everyone wants safety and protection. Insurance is an umbrella to protect from risk. Data was collected through services companies which were meant to give service are questionnaire consist of 34 statements from 337 customers focusing on profit What they want from the insurance of the three cities of Punjab. This research is trying to investigate, identifying and ethical excellence and Functionality were the significant analyzing the factors which influence the customer factors which make impact on the overall service quality of perception towards general insurance of Gwalior region, Life Insurance. For the study company to identify the customer perception and will help questionnaire of 25 statement on likert scale were designed in introducing correct product and services in market. In order to conduct this study, customers secondary data was collected from government records, of various general insurance companies are the respondents newspapers, business magazines, websites and other sources. Null Hypothesis(Ho): There is no significant difference in customer perception across sector
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