CUSTOMER SATISFACTION IN LIFE INSURANCE BUSINESS

The report emphasized the role and the importance of customer satisfaction in Life Insurance Business. Customers are the link to a business success. A business organization should focus on a huge number of customer, for this customer satisfaction LIC Business should be incorporated along the long-term goals. This thesis was implemented to an analyzing the relationship between customer satisfaction and customer relationship. The objective of this research is to study the concept of customer satisfaction, customer loyalty and its relationship. Moreover, this thesis studies the factors that influence customer satisfaction in LIC Business. The thesis project examines customer satisfaction provided by LIC customer LIC received from its customers. This thesis also analyzes the factors that have impact on customer satisfaction and result in customer LIC Business. Recommendations on improving the service quality and getting customer retention are ultimately proposed. In this thesis, the theoretical background chapter reviews studies on customer satisfaction and customarily Business and the relationship between these two terms. Various methods that have been widely used to measure customer satisfaction and the outcome results of having lic customers are presented. The thesis presents best practices and the relevant recommendation on how to improve LIC customer satisfaction level. This result was accomplished using a quantitative and qualitative research method by means of a questionnaire. The questionnaire was distributed to the customers of LIC over a period of one month. In conclusion, the research reveals that the current service level of lic can be marked as positive and customers are very satisfied with the service. However, improvement on certain things should be done in order to increase the level of customer satisfaction. It is recommended that the company should improve its service regarding feedback system, implement staff training as well as conduct regular advertising campaign to attract new customers and also to inform existing customers about upcoming events.