CUSTOMER SATISFACTION IN CLAIM SETTLEMENTS IN A NON-LIFE INSURANCE CORPORATION IN THE PHILIPPINES

Abstract

Delivering high quality service is a winning strategy in every business. However, many struggle to improve their services. Quality service is essential for a competitive business advantage as it sustains customers. This study aimed to determine the customer satisfaction in claim settlements in a non-life insurance corporation. Specifically, it seeks to answer the factors affecting the company in terms of insurance line, years as policyholder, reliability, assurance, tangibility, empathy, and responsiveness or RATER Metrics and to develop an action plan on how insurance company can increase customer satisfaction in terms of claim settlement. A total of fifty (50) insured members from head office and branches were the participants of this quantitative study. Descriptive method was used to achieve its objectives which primarily focuses on determining the customer satisfaction in claim settlements. The survey questionnaire was the main research instrument used. The following conclusion were drawn: 1) Most of the participants/policyholders belonged to the age group of 31-40, male, married, college graduate, filed motor claim and insured member for more than 6 years. 2) The results showed that the participants were somewhat satisfied in terms of empathy; satisfied in tangibility and responsiveness; very satisfied in reliability and assurance. 3) There is no significant difference between the extent of customer satisfaction when grouped according to gender, civil status, educational attainment, insurance line and years as an insured. On the other hand, there is a seen significance on the assessments when the participants are grouped according to age with p-value of 0.002. The study recommends annual training for employees, agents, and insurance brokers to disseminate the proper procedures in processing claims to insured members to improve positive claims experience. Adapt to the new normal and identify, formulate, and implement appropriate strategies.