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Image of Life Insurance Services - An Expectation-experience GAP Analysis


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1 Assam University-Diphu Campus, Assam, India
     

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Life Insurance Industry is in development phase and daily new developments are going on with respect to Product and services. Today the biggest challenge the Life Insurance companies are facing is the competition in all aspects, so the Gap study between the expectation and Experience is of vital importance. The present study has been conducted with a view to understand the difference between the Expected and Experienced "CUSTOMER-SOLUTION" i.e. PRODUCT dimensions of marketing mix with respect to Life Insurance in Assam. The study is conducted based on the primary data collected from Sibsagar town - the districts headquarter of Sivasagar district of Assam through questionnaire. Given the Empirical Research methods and specially designed Scaling technique, the study revealed that the difference between the degree of customer solution expected from the insurance and the degree of customer solution experienced is statistically not significant. The most interesting finding of the study was the degree of customer solution experienced is more than degree of customer solution expected.

Keywords

Image, Gap, Insurance, Life Insurance
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  • Reichheld Frederick F. (1996), Learning from customer defections: The Customers you lose hold the information you need to succeed Retrieved Feb. 16, 2010 from http://hbr.org/1996/03/learning-from-customer-defections/ar/1
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  • Image of Life Insurance Services - An Expectation-experience GAP Analysis

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Authors

Pankaj Bihani
Assam University-Diphu Campus, Assam, India
Amalesh Bhowal
Assam University-Diphu Campus, Assam, India

Abstract


Life Insurance Industry is in development phase and daily new developments are going on with respect to Product and services. Today the biggest challenge the Life Insurance companies are facing is the competition in all aspects, so the Gap study between the expectation and Experience is of vital importance. The present study has been conducted with a view to understand the difference between the Expected and Experienced "CUSTOMER-SOLUTION" i.e. PRODUCT dimensions of marketing mix with respect to Life Insurance in Assam. The study is conducted based on the primary data collected from Sibsagar town - the districts headquarter of Sivasagar district of Assam through questionnaire. Given the Empirical Research methods and specially designed Scaling technique, the study revealed that the difference between the degree of customer solution expected from the insurance and the degree of customer solution experienced is statistically not significant. The most interesting finding of the study was the degree of customer solution experienced is more than degree of customer solution expected.

Keywords


Image, Gap, Insurance, Life Insurance

References