A Study on Service Quality Perception and Policyholders’ Satisfaction in LIC of India in Nagapattinam District
Keywords:
Service Quality, SERVQUAL, Customer Satisfaction, Policyholders’ Satisfaction, Insurance Industry, AssuranceAbstract
The aim of the study is to examined the level of policyholders’ satisfaction towards assurance factors of service quality perception and also the impact of perceived quality on policyholders’ satisfaction was measured. A study adapted a non-probability sampling method of Quota sampling was used to select the sample respondent in the eight taluk of Nagapattinam District. 800 respondents were chosen among the population of policyholders in Nagapattinam District. The result found that 21.7 per cent of the highest variability in Satisfaction over the LIC among the respondent of Sirkali taluk, while, the R-Squared statistic indicates that the model as fitted explains 4.8% of the lowest variability in Satisfaction over the LIC among the respondent of Tharangambadi taluk. By overall, the model as fitted at 1.6% of the variability in the overall policyholders’ satisfaction over the LIC and the correspondent adjusted. It was found that the P-value in the ANOVA table is greater or equal to 0.05, there is not a statistically significant relationship between the variables at the 95.0% or higher confidence level in the sample area of Nagapattinam, Mayiladurthurai, Vedaranyam, Kuthalam, Thirukkuvalai and Trarangambadi taluk. However, the P-value in the ANOVA table is lesser or equal to 0.05, there is a statistically significant relationship between the variables at the 95.0% or higher confidence level in the sample area of Sirkali, Kilvelur and by overall. It is concluded that among the five assurance variables, the variables V2 has emerged to predict the overall policyholders’ satisfaction over LIC.
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