Empirical study on customer satisfaction towards services of Life Insurance Corporation at Lucknow

Abstract

The study evaluates whether or not Life insurance products and services of LIC meet or exceed consumer expectations in light of its business goals and strategies. The study was restricted to Lucknow city. The paper attempt to study the Customer satisfaction from services of LIC. In a couple of years, improvements in the insurance sector have brought about a major change in the way the firms competition in market. Today, insurance firms prioritize providing excellent customer service. In a growing number of industries, customer satisfaction is becoming recognized as a differentiator and a crucial component of business strategy. Essential information is drawn from Questionnaire through survey. The secondary information is drawn from different sources like research articles from Journals, Magazines. It is a descriptive research study. To increase the life insurance penetration LIC would have to introduce new policies according to customers need and demand, LIC has to emphasize more on rural areas and use aggressive marketing strategies; they also have to improve their feedback system to know customer satisfaction level. This research can be used by insurance companies, customers, Academics, faculties and students. In this paper, the model customer satisfaction towards services of LIC is presented comprehensively and lucidly at the ground level state where the actual customer responses were analyzed.