Service quality and customer satisfaction in insurance sector-An Indian perspective

Customer service is an integral part of life insurance organization. From a company value perspective, fulfilling customer needs are a key source of income to an organization and achieving complete customer satisfaction is the only key for the company to succeed.

Service quality improvements will lead to customer satisfaction and cost management that result in improved profits. Contemporary service sector firms are compelled by their nature to provide excellent service in order to prosper in increasingly competitive domestic and global marketplaces.

While the natural tendency of many Life Insurance Companies to better price the product and services so as to increase the market share. More specifically the “Service Cost” was found to lead to the policy of “Efficiency pricing”. Regarding the pricing behaviour of companies operating in different service industries