V3I5P139

A Study on Customer Satisfaction and Service Quality in Life Insurance Sector 

I. Kenneth Mieze^1*, Dr. N. Padmavathy²

Abstract

The life insurance industry plays an important role in providing financial protection and long-term security to individuals and families. In today’s competitive business environment, customer satisfaction and service quality have become essential factors for the success of insurance companies. This study focuses on analyzing customer satisfaction and service quality in the life insurance sector with special reference to Bajaj Allianz Life Insurance.

The research examines how service quality, claim settlement process, communication, digital services, and customer support influence customer satisfaction. Both primary and secondary data were used for the study. Primary data was collected through questionnaires from customers, while secondary data was collected from websites, journals, books, and company reports.

The findings reveal that most customers are satisfied with the services provided by Bajaj Allianz Life Insurance, especially with digital services and policy benefits. However, some customers experience delays in claim settlement and difficulties in understanding policy documents. The study concludes that improving customer communication, simplifying procedures, and enhancing service quality can help the company increase customer satisfaction and loyalty.

Keywords:

Customer Satisfaction, Service Quality, Life Insurance, Claim Settlement, Customer Loyalty, Bajaj Allianz Life Insurance.