1Department of Commerce, Kurukshetra University, Kurukshetra.
2Lal Bahadur Shastri Institute of Management, New Delhi.
The Indian Insurance sector is a growing Industry. With private players in the sector the Indian customers are being treated to efficient service, unheard of add-ons, Technology savvy agents and speedy claim settlements. Today's customers demand innovative insurance solutions to their problems and superior quality service. They are now equipped with information, and are more educated, less loyal and highly independent. Their evolving needs are driving companies to respond more efficiently. So, the current study has been carried to identify the important sources of information used by insurance policy buyers and the objectives of buying a insurance policy. An effort has been made through this study to understand the prepurchase behaviour of an insurance consumer. The study has come up with factors such as marketing communication, company representative and referrals which also include various variables as sub-factors. Hence insurance companies should focus on these factors for making the information search a more effective and easy exercise for customers.
