E-CRMANDCUSTOMERSATISFACTIONININDIANINSURANCEINDUSTRY.pdfVIP

Asian Journal of Business and Economics Volume 2, No.2.3 Quarter III 2012 ISSN: 2231-3699 E-CRM AND CUSTOMER SATISFACTION IN INDIAN INSURANCE INDUSTRY Kamal Gulati Ph D Candidate, Singhania University, Jhunjhunu - India Arvind Kumar Sr. Faculty of Commerce, LSR College, Delhi University, Delhi - India V. Ravi Sr. Faculty of Statistics, LSR College, Delhi University, Delhi - India ABSTRACT The financial reforms posed a lot of challenges before the Indian insurance sector, one of the major challenges faced by insurance companies’ deals with the customer satisfaction and loyalty. Today’s insurance customers have become more aware and rational in their approach than ever. Customer satisfaction and formulation of marketing strategies to attract more and more customers towards the insurance provider are now becoming a key issue in order to survive in the competitive insurance industry for every insurance company. The current study is an attempt to find out gap between expected and perceived satisfaction level of insurance company customers. For the purpose of the study, data were collected through primary sources by framing a questionnaire on the basis of SERVQUAL scale and review of literature. To analyze the collected data, Gap Analysis and t-test have been employed. The results of the study bring out the major differences in customers’ expectations and perceptions from insurance services thus showing dissatisfaction among insurance company customers. Key words: Satisfaction, Service Quality, Insurance companies 1 Asian Journal of Business and Economics Volume 2, No.2.3 Quarter III 2012 ISSN: 2231-3699 INTRODUCTION The service quality is the comparison of perceived service