PREFERENCES OF CUSTOMERS IN LIFE INSURANCE COMPANIES IN INDIA

Abstract

Today in a competitive tough environment almost all the companies engaged in service
sector required to satisfy their customer and consumer. Particularly the insurance sector is
a growing sector in India and various new players or new private companies have also
knocked the door in this industry and few of the companies are being merged with
foreign companies. If we talk about new services gradually these companies are offering
new services with new basic plans to the new customers to attract themselves and it is
also a need of the time to retain the existing customers. In this research study it is tried by
us to understand and analyze the consumer behavior and perception in Insurance sector.
The objective of this research is to identify, analyze the preference in respect of basic
plans and introduction of company. The purpose of buying the insurance policies to
understand the customers’ future plans for their satisfaction level and future plan for
existing and upcoming insurance policy. The structured questionnaire was distributed to
Preferences Of Customers In Life Insurance Companies In India PJAEE, 17 (7) (2020)
6654
the 200 customers of Delhi NCR only and data was collected. The sample data was
collected on the basis of convenience sampling. Out of 200 customers 192 questionnaires
were taken into consideration for analysis and the rest 8 questionnaire were not properly
filled by the respondents. In this research cross tabulation method, percentage and
frequency method have been adopted for analysis.