A Study on The Service Quality of LIC As Expected and Perceived By Its Policy Holders

Abstract

Customer service assumes vital importance in the marketing programmes of all modern organisations, specifically service organisations. As insurance is a service industry, the main focus is on the efficient and effective delivery of services to the policyholders. The most important factors in the insurance industry are, security of the amount insured and customer satisfaction. The best way of surviving and prospering in the competitive environment is  through providing prompt, relevant and efficient customer services at measurable cost. After the liberalization of the insurance sector, it has been duly realised by all the players that, offering “quality service†is the only differentiating factor to attain sustainable growth in the competitive  environment. The present study focuses to quantify the services as offered by LIC.