A Comparative study on service quality perceived by the customers of insurance companies

Service quality is the customers’ judgement about an organization's overall excellence or superiority. It is a form of attitude and results from a comparison of expectations to perceptions of performance received. It is an important antecedent of customer loyalty and a path to success. Service quality has become an indispensable construct for the triumph and survival for all service organizations in this era of globalized competition. Taking this into cognizance, the present research aims to investigate the differences in service quality in two private life insurance companies namely Kotak Life Insurance and HDFC Life Insurance. SERVQUAL instrument developed by Parasuraman (1988) in a modified form has been used for collecting data from 133 policy holders of the companies under study from Delhi, the capital city of India. Data has been analyzed with the help of independent sample t-test. The findings highlighted that significant difference exists in service quality in customer's perception towards reliability, and responsiveness but the significant difference does not exist in service quality in the perception of customers on the variables empathy, assurance, and tangibles in insurance companies under study.