Dependency of Perceived Service Quality on the Information Technology in Life Insurance Corporation of India in Burdwan

Liberalization of the financial services sector has led to insurance companies functioning increasingly under competitive pressures; so companies are consequently directing their strategies towards increasing customer satisfaction and loyalty through improved service quality. The present study strives to develop a valid and reliable instrument to measure customer perceived service quality in life-insurance sector. The resulting validated instrument comprised of six dimensions: assurance, personalized financial planning, competence, corporate image, tangibles and technology. Further the results of analytical hierarchy process highlighted the priority areas of service instrument with assurance is the best predictor, followed by competence and personalized financial planning. The gap scores show that there is ample room for improvement in all the aspects related to service quality. These results would help the service managers to efficiently allocate attention and resources among these dimensions on the differential basis, consistent with the customer priorities. These findings can be transformed into effective strategies and actions for achieving competitive advantage through customer satisfaction and retention.

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Relationships among Information Technology, Service Quality, and Overall Satisfaction of the Customers in Life Insurance Corporation of India

Web-Based Services ◽

10.4018/978-1-4666-9466-8.ch064 ◽

2016 ◽

pp. 1465-1476

Author(s):

Partha Sarathi Choudhuri

Keyword(s):

Information Technology ◽

Service Quality ◽

Life Insurance ◽

Service Providers ◽

Insurance Companies ◽

Insurance Sector ◽

Significant Relationships ◽

Technology Service ◽

Information Technology Service

At present, customers are fully aware of their needs and requirements, expectations, and information technology-enabled services. Based on the several factors, customers are evaluating the quality of perceived services offered by their service providers as well as estimating their overall satisfaction with their service providers. As customer satisfaction has now become the ultimate goal of the different service providers, considering different factors, organizations are trying to move their focus from product to the customers. Like any other sector, in life insurance sector the insurance companies are trying to provide better quality of services to their customers with the help of information technology not only to satisfy them but also to retain them in the competitive insurance market. In this chapter, the author studies the significant relationships among the information technology, service quality, and overall satisfaction of the customers in Life Insurance Corporation of India in Burdwan.

Download Full-text

Relationships among Information Technology, Service Quality, and Overall Satisfaction of the Customers in Life Insurance Corporation of India

Strategic Infrastructure Development for Economic Growth and Social Change - Advances in Business Strategy and Competitive Advantage ◽

10.4018/978-1-4666-7470-7.ch013 ◽

2015 ◽

pp. 195-206 ◽

Cited By ~ 1

Author(s):

Partha Sarathi Choudhuri

Keyword(s):

Information Technology ◽

Service Quality ◽

Life Insurance ◽

Service Providers ◽

Insurance Companies ◽

Insurance Sector ◽

Significant Relationships ◽

Technology Service ◽

Information Technology Service

At present, customers are fully aware of their needs and requirements, expectations, and information technology-enabled services. Based on the several factors, customers are evaluating the quality of perceived services offered by their service providers as well as estimating their overall satisfaction with their service providers. As customer satisfaction has now become the ultimate goal of the different service providers, considering different factors, organizations are trying to move their focus from product to the customers. Like any other sector, in life insurance sector the insurance companies are trying to provide better quality of services to their customers with the help of information technology not only to satisfy them but also to retain them in the competitive insurance market. In this chapter, the author studies the significant relationships among the information technology, service quality, and overall satisfaction of the customers in Life Insurance Corporation of India in Burdwan.

Download Full-text