Review Of Literature On Customer Satisfaction In Life Insurance

Review Of Literature On Customer Satisfaction In Life Insurance-58
She is currently pursuing doctoral program in the arena of services marketing.She has eight publications in various international and national journals like The life insurance industry like many other financial services industries is facing a rapidly changing market, new technologies, economic uncertainties, fierce competition and more demanding customers and the changing climate has presented an unprecedented set of challenges.

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Therefore, satisfaction is the customer’s overall judgment of the service provider.

Quality and customer satisfaction have long been recognized as playing a crucial role for success and survival in today's competitive market.

On the basis of their conceptual/empirical studies, researchers derived and proposed different service quality dimensions for various service applications as illustrated in The SERVQUAL scale measures service quality based on difference between expectations and performance perceptions of customers using 22 items and five dimensional structures.

In the SERVPERF scale, service quality is operationalized through performance only scores based on the same 22 items and five dimensional structure of SERVQUAL.

The decrease in customer loyalty has made management of service quality and customer satisfaction critically important factors for insurance players.

The life insurance providers need to reconfigure their strategy and business to sustain or improve their competitive advantage, and for this they first need to consider how to create a satisfied customer base that will not be eroded even in the face of fierce competition.SERVQUAL is appreciated by researchers provided a definition that he thought was consistent with theoretical and empirical evidence available to him at the time.He defined satisfaction/dissatisfaction as ‘the consumer’s fulfilment response, the degree to which the level of fulfilment is pleasant or unpleasant’.Considerable research has been conducted on these two concepts.Whereas there exists a widespread agreement that understanding what contributes to customer satisfaction could be the key to achieving competitive advantage, an overview of the literature shows that as a theoretical construct, customer satisfaction is problematic to define and operationalize, especially in relation to perceived service quality.Customer Satisfaction Factors in Life Insurance Growth in Ghana by Geraldine Gina Abaidoo MBA, University of Ghana, 2003 BA, University of Cape Coast, 1996 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University December 2015 Abstract The growth rate of life insurance in Ghana is under 1% of GDP, and life insurance company leaders must identify and implement customer satisfaction strategies that will aid business…Life insurance players have started realizing that their business depends on customer service and customer satisfaction.For answering this fundamental question, these companies must realize the necessity of studying and understanding various antecedents of customer satisfaction.A number of studies in different fields confirmed that service quality is the antecedent towards customer satisfaction.In addition, consumers’ perceived usefulness and perceived ease of use positively affected customer satisfaction. https://doi.org/10.1108/JEIM-07-2014-0077 Download as . Furthermore, the path analysis result demonstrates that usage attitude is the most significant factor for customer satisfaction, and the second-most important factor is the cognition of compatibility’s indirect effect on usage attitude.

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