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Chattha, Samiya
- Modelling Customer's Vision towards Distribution Channels of Indian Life Insurance Industry
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1 University Business School, Guru Nanak Dev University, Amritsar, IN
1 University Business School, Guru Nanak Dev University, Amritsar, IN
Source
Abhigyan, Vol 36, No 1 (2018), Pagination: 63-72Abstract
The study endeavours to examine relationship between customer satisfaction and dimensions of behavioral consequences, specifically toward services provided by distribution channels of Indian Life Insurance Industry. A total of 617 responses have been generated from life insurance policyholders. Using Exploratory and Confirmatory Factor Analyses, instruments to measure customer's satisfaction and behavioral intentions have been tested specifically for life insurance intermediaries and relationships have been confirmed through Structural Equation Modelling. The resulting instrument provides support for the original constructs- core service, human element of service delivery, systematization of service delivery, tangibles of service and social responsibility- but with 32 items instead of prior 41 items, as important antecedents for measuring customer's satisfaction. The results provide empirical support for comprehensive nature of positive effects of satisfaction on word of mouth, purchase intention and price sensitivity but negative influence on complaining behavior.Keywords
Customer Satisfaction, Behavioral Consequences, Distribution Channels, Life Insurance Services, India.
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Abstract Views :179 |
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Authors
Affiliations
1 Khalsa College Amritsar, Punjab, IN
1 Khalsa College Amritsar, Punjab, IN
Source
International Journal of Banking, Risk and Insurance, Vol 7, No 1 (2019), Pagination: 56-70Abstract
The essence of providing sophisticated services has helped the insurance sector to become increasingly competitive and market oriented. In such a competitive milieu, survival and success of Indian life insurers depends on the quality of services rendered by distribution channels. So, the present study examined satisfaction of customers towards distribution channels of insurance industry in India. For the purpose of analysis, customers’ satisfaction has been regressed with various benefits received as well as problems faced by them respectively, while dealing with intermediaries, along with demographic variables. For this, sample of 617 policyholders has been taken from three cities of Punjab (India) and data have been analysed using Ordered Probit Regression. The research findings revealed some significant relationships of customers’ satisfaction with respect to benefits, problems and demographic variables. But the magnitude of effect of customer relationship management is more prominent than other benefits whereas magnitude of effect of difficulty in availing services is strong predictor among other problems faced by the policyholders. This paper offers insight to distribution channels that can help them in designing insurance services for the policyholders, in which they would emphasize on enhancement of said benefits and curb addressed problems to intensify the level of satisfaction.Keywords
Policyholders, Satisfaction, Intermediaries, Insurance Industry, India, Ordered Probit Model.References
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