Customer Satisfaction on Money Back Plans of Life Insurance Industries: A Strategic Insurance Management Practice

10 Pages Posted: 1 May 2015

See all articles by Om Gupta

Om Gupta

Dr. K. N. Modi University, Newai (RAJ)

Dr. Mohit Sharma

Shri Venkateshwara University

Date Written: April 30, 2015

Abstract

The Government of India made history on October 24, 2000 by once again bringing back insurance business to private companies, which had earlier been abolished 24 years ago. The opening of the insurance sector was facilitated through the Insurance Regulatory and Development Authority (IRDA). Today, organizations are competing in complex business environments characterized by continuous changes in economic, social politico-legal and regulatory factors. The insurance sector along with other elements of marketing, as well as financial infrastructure, have been touched and influenced by the process of liberalization and globalization in India. The customer is the king in the market. Life Insurance companies deal in intangible products. With the entry of private players, the competition is becoming intense. In order to satisfy the customer, every company is trying to implement a consumer behavior (CB) program.

Keywords: Strategic Insurance Management, Consumer Behavior, Life Insurance Industries etc.

JEL Classification: M15, M19, M25

Suggested Citation

Gupta, Om and Sharma, Dr. Mohit, Customer Satisfaction on Money Back Plans of Life Insurance Industries: A Strategic Insurance Management Practice (April 30, 2015). Available at SSRN: https://ssrn.com/abstract=2600853 or http://dx.doi.org/10.2139/ssrn.2600853

Om Gupta

Dr. K. N. Modi University, Newai (RAJ) ( email )

Ricco Industry Area II, Phaqse-II
Newai Dist
TONK, RAJASTHAN 304021
India

Dr. Mohit Sharma (Contact Author)

Shri Venkateshwara University ( email )

NH-24, 10 KM SO FAR FROM GAJRAULA
NEAR RAJABPUR
AMROHA, UTTAR PRADESH 244235
India

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