Customer Satisfaction and Service Quality Issues in Life Insurance Companies

Abstract

The life insurance industry like many other financial services industries is facing a market which is dynamic in characteristics. New technologies, Economic uncertainties and lack of stability, fierce competition and more demanding customers and the changing climate has presented a set of challenges. Life insurance providers increasingly recognize that today's customers have many alternatives and, therefore, may more readily change service providers if not satisfied. The decrease in customer loyalty has made management of service quality and customer satisfaction critically important issues.