A Study on Customer Satisfaction Towards General and Life Insurance Policies in Mysore City: An Analytical Study

Author

Dr. Kavitha V


Abstract

 The present study, titled “A Study on Customer Satisfaction Towards General and Life Insurance Policies in Mysore City – An analytical Study,” aims to examine the factors influencing customer satisfaction towards general and life insurance policies in Mysore. Insurance plays an important role in providing financial protection, managing uncertainties and ensuring economic security for individuals and families. Customer satisfaction is essential for insurance companies to maintain customer trust, improve service quality and establish long-term relationships with policyholders. The study focuses on major satisfaction dimensions, including premium affordability, adequacy of financial protection, claim settlement, transparency of policy conditions, customer service, agent assistance, digital facilities, policy renewal, policy benefits and grievance redressal. The study adopts a descriptive and analytical research design, primarily based on primary data collected through a structured questionnaire from approximately 400 respondents holding general or life insurance policies in Mysore. Secondary data are obtained from books, research articles, journals, insurance company reports and relevant publications. The collected data are analysed using descriptive and inferential statistical techniques, including percentage analysis, correlation and multiple regression analysis, wherever appropriate. The regression results for general insurance indicate that the selected factors collectively explain 78.4% of the variation in overall customer satisfaction, with the model being statistically significant. Fairness in claim assessment and payment, financial protection, claim settlement speed, renewal convenience and documentation accuracy demonstrate significant positive relationships with overall satisfaction. For life insurance, the model explains 94.5% of the variation in customer satisfaction and is also statistically significant. Complaint resolution, agent guidance, maturity benefits, policy benefits and online service facilities demonstrate significant positive associations with overall satisfaction. However, certain variables exhibit negative coefficients, indicating the need for further investigation and cautious interpretation. The study highlights the importance of transparent communication, fair claim settlement, efficient customer support and convenient digital services in improving insurance experiences. It recommends that insurance companies strengthen service delivery, simplify policy procedures and improve grievance redressal mechanisms. The findings may help insurers identify areas for improvement, enhance consumer confidence and develop customer-oriented insurance services in Mysore. 


Keywords

Customer Satisfaction, General Insurance, Life Insurance, Claim Settlement, Service Quality, Mysore City.



Full Text:

Download Paper PDF


References


  1. Agarwal, M., Tanwar, S., Parsad, C., & Prashar, S. (2022). Impact of service quality on customer loyalty: A multi-analytic approach using neural network. Ramanujan International Journal of Business and Research, 7(2), 1–15. https://doi.org/10.51245/rijbr.v7i2.2022.811.
  2. An empirical analysis on dimensions of satisfaction's level with quality service for health insurance policyholders. (2025). International Journal of Intelligent Enterprise, 12(1), 80–101. https://doi.org/10.1504/IJIE.2025.143444.
  3. An integrated framework for service quality, choice overload, customer involvement and satisfaction. (2021). Management Decision, 59(4), 801–828. https://doi.org/10.1108/MD-12-2018-1354.
  4. Additional research articles on service quality, loyalty and policyholder behaviour
  5. Bala, N., Sandhu, H. S., & Nagpal, N. (2011). Measuring life insurance service quality: An empirical assessment of SERVQUAL instrument. International Business Research, 4(4), 176–190. https://doi.org/10.5539/ibr.v4n4p176.
  6. Chahar, K. V. S. (2019). Impact of service quality on customer satisfaction in life insurance services. Think India Journal. Article page.
  7. Customer perception and satisfaction towards general insurance. (2023). International Research Journal of Engineering and Research (IRE Journals), 6(12), 1054–1058. Article page.
  8. Debnath, P. (2024). Customer satisfaction towards insurance policies India: A study with special reference to Dima Hasao, Assam, North East India. In Emerging Issues in Banking, Insurance, Micro Finance & Financial Inclusion (pp. 54–67). Bloomsbury. Research record.
  9. Gautam, V. (2011). Service quality perceptions of customers about insurance companies: An empirical study. Indian Journal of Marketing. Article page.
  10. Influence of service quality on consumer loyalty: A mediation analysis of health insurance. (2021). The TQM Journal, 33(8), 1787–1805. https://doi.org/10.1108/TQM-09-2020-0219.
  11. Josiah, H., & Prem, B. (2022). Assessment of life insurance service quality dimensions and customer satisfaction through the SERVPERF model. International Journal of Research – GRANTHAALAYAH, 10(12). https://doi.org/10.29121/granthaalayah.v10.i12.2022.4964.
  12. Kasc, M. T., & Parthasarathy, K. (2023). A study on customer satisfaction in general insurance with special reference to IFFCO-TOKIO General Insurance Company Limited. Journal of Xidian University, 14(4), 3566–3577. https://doi.org/10.37896/jxu14.4/384.
  13. Kaur, P., & Singh, M. (2025). Exploring the impact of InsurTech adoption in Indian life insurance industry: A customer satisfaction perspective. The TQM Journal, 37(2), 457–483. https://doi.org/10.1108/TQM-06-2023-0186.
  14. Kautish, P., Khare, A., & Sharma, R. (2022). Health insurance policy renewal: An exploration of reputation, performance, and affect to understand customer inertia. Journal of Marketing Analytics, 10(3), 261–278. https://doi.org/10.1057/s41270-021-00134-7.
  15. Khera, S., & Divya. (2020). Impact of IRDA guidelines on consumer confidence in life insurance market: Then and now. Vision: The Journal of Business Perspective, 24(4). https://doi.org/10.1177/2278682120968985.
  16. Maheswari, M. (2020). A study on service quality of the Life Insurance Corporation of India. International Journal of Psychosocial Rehabilitation, 24(8), 14513–14520. https://doi.org/10.61841/7ykcc828.
  17. Mittal, S., Gera, R., & Singhvi, S. R. (2013). Developing and testing a hierarchical model of customer perceived service quality for life insurance services. Vision: The Journal of Business Perspective, 17(2), 141–152. https://doi.org/10.1177/2319510X13483513.
  18. Nair, S. (2022). Examining the impact of service quality on the satisfaction of health insurance policyholders. The IUP Journal of Marketing Management. Article page.
  19. Pius, A. C., & Velmurugan, R. (2024). A study on policyholder’s perception and satisfaction towards insurance repository services. Indian Journal of Information Sources and Services, 14(3), 258–264. https://doi.org/10.51983/ijiss-2024.14.3.33.
  20. Preeti, Mittal, M., & Gupta, S. (2024). Prioritising the service quality factors affecting customer satisfaction in life insurance industry: An application of fuzzy AHP. International Journal of Productivity and Quality Management, 42(4), 519–535. https://doi.org/10.1504/IJPQM.2024.140602.
  21. Ramamoorthy, R., Gunasekaran, A., Roy, M., Rai, B. K., & Senthilkumar, S. A. (2018). Service quality and its impact on customers’ behavioural intentions and satisfaction: An empirical study of the Indian life insurance sector. Total Quality Management & Business Excellence, 29(7–8), 834–847. https://doi.org/10.1080/14783363.2016.1240611.
  22. Service quality, customer satisfaction and customer value: Holistic determinants of loyalty and word-of-mouth in services. (2022). The TQM Journal, 34(5), 957–978. https://doi.org/10.1108/TQM-10-2020-0236.
  23. Singh, A., et al. (2022). Empirical study on customer satisfaction towards services of Life Insurance Corporation at Lucknow. Journal of Information and Optimization Sciences, 43(7), 1871–1883. https://doi.org/10.1080/02522667.2022.2128538.
  24. Singh, B., & Anuradha, L. S. (2022). E-CRM practices and customer satisfaction in insurance sector. SAARJ Journal on Banking & Insurance Research, 11(4), 16–23. https://doi.org/10.5958/2319-1422.2022.00010.8.
  25. Singh, N., Panigrahi, R., & Shekhar, R. (2024). Fostering digital engagement and customer retention in Indian insurance: An empirical study. Indian Journal of Marketing, 54(7), 68–82. https://doi.org/10.17010/ijom/2024/v54/i7/174017.
  26. Sotechand, K., & Barua, B. P. S. (2020). Determinants of customer loyalty in the insurance sector with reference to LIC, Manipur. International Journal of Management, 11(10), 533–547. https://doi.org/10.34218/IJM.11.10.2020.051.
  27. Tedja, B., Al Musadieq, M., Kusumawati, A., & Yulianto, E. (2024). Systematic literature review using PRISMA: Exploring the influence of service quality and perceived value on satisfaction and intention to continue relationship. Future Business Journal, 10, Article 39. https://doi.org/10.1186/s43093-024-00326-4.
  28. The transformative service performance of InsurTech companies: Using PLS-SEM and IPMA approach for examining the purchase behavior of InsurTech customers. (2024). Journal of Financial Services Marketing, 29(4). https://doi.org/10.1057/s41264-024-00275-7.
  29. These articles are relevant for developing your literature review and theoretical framework, although some examine insurance markets outside India.
  30. Unnamalai, T., & Rajinikanth, V. (2021). A study on customer perception towards Life Insurance Corporation of India (with special reference to Kumbakonam Town). Information Technology in Industry, 9(1). https://doi.org/10.17762/itii.v9i1.266.
  31. Viswanathan, P., & Gupta, G. (2020). Quality-satisfaction-loyalty linkage and switching costs: Findings in the context of online life insurance. International Journal of Business Excellence, 21(1), 1–16. https://doi.org/10.1504/IJBEX.2020.106932.
  32. Viswanathan, P., Singh, A. B., & Gupta, G. (2020). The role of social influence and e-service quality in impacting loyalty for online life insurance: A SEM-based study. International Journal of Business Excellence, 20(3), 322–337. https://doi.org/10.1504/IJBEX.2020.106370.

 

 

 

Share your valuable work from Social Media Buttons