Impact of Service Quality on Customer Satisfaction in Life Insurance Companies in Sri Lanka
Keywords:
service quality, customer satisfaction, insurance industry, service quality dimensions
Abstract
Insurance industry is recorded high growth rate in Sri Lanka in the recent years. The delivery of high-quality service is the vital to success in service industries. Customers are likely to choose insurance company that has high quality of service such as provide complete information about the product and services, well-known and positive corporate image, handle the complaints. Service quality is a recent and more dynamic decisive issue in the marketing thought. The population was the customer who has life insurance policies in the top five insurance companies which are lapsed within one year and structured questionnaire is used as a major method to collect primary data. The special case is that population sample was selected from all 25 districts and 200 respondents are selected as the sample out of the total population. This paper examines the impact of Service Quality of the life insurance companies on their customer satisfaction. The SERVQUAL instrument is selected to measure service quality. The results of the study confirms that tangibility, responsiveness, assurance and empathy have a moderate positive influence on customer satisfaction and even though reliability has negative relationship, it impacts on customer satisfaction in the insurance industry. Further the researcher identified that assurance was the most important factor. It has considerable impact on customer satisfaction in Insurance industry.
Downloads
- Article PDF
- TEI XML Kaleidoscope (download in zip)* (Beta by AI)
- Lens* NISO JATS XML (Beta by AI)
- HTML Kaleidoscope* (Beta by AI)
- DBK XML Kaleidoscope (download in zip)* (Beta by AI)
- LaTeX pdf Kaleidoscope* (Beta by AI)
- EPUB Kaleidoscope* (Beta by AI)
- MD Kaleidoscope* (Beta by AI)
- FO Kaleidoscope* (Beta by AI)
- BIB Kaleidoscope* (Beta by AI)
- LaTeX Kaleidoscope* (Beta by AI)
How to Cite
References
Eugene Anderson, Claes Fornell, Donald Lehmann (1994) Customer Satisfaction, Market Share, and Profitability: Findings from Sweden. 58(3), 53-66.
Patrick Asubonteng, Karl Mccleary, John Swan (1996) SERVQUAL revisited: a critical review of service quality. 10(6), 62-81.
M Bitner (1990) Evaluating service encounters: the effect of physical surroundings and employee responses. 54, 69-82.
Ruth Bolton, James Drew (1991) A Longitudinal Analysis of the Impact of Service Changes on Customer Attitudes. 55(1), 1-9.
D Chandarsekaran (2008) policy lapsation in life insurance. VI(8).
J Cronin, Steven Taylor (1992) Measuring Service Quality: A Reexamination and Extension. 56(3), 55-68.
L Crosby, N Stephens (1987) Effects of relationship marketing on satisfaction, retention, and prices in the life insurance industry. 24(4), 404-411.
P Dawkins, F Reichheld (1990) Legal Responsibilities of Boards and Members of Boards. 14(Summer), 37-42.
H Gayathri, M Vinaya, K Lakshmisha (2005) A pilot study on the service quality of insurance companies. 5(2), 123-138.
D Gilbert, Harrell, L Gary, Frazier (1999) Marketing connecting with customers. 39.
C Grönroos (2007) Service Management and Marketing: Customer Management in service Competition. 483.
W Gunarathne (2014) relationship between service quality and customer satisfaction Sri Lankan hotel industry. 4(11).
Hishamuddin, A Asiah (2001) The important of company image toward customer satisfaction. 6(1), 28-31.
N Hunt, N Hunt, T Hunt (1988) Consumer Satisfaction, Dissatisfaction, and Complaining Behavior. 47(1), 107-117.
P Kotler, K Keller (2009) Marketing management (13th end).
C Keong (2014) Determinants of customer satisfaction in conventional insurance services: The case of Malaysia. 4.
M Krishnan, Venkatram Ramaswamy, Mary Meyer, Paul Damien (1999) Customer Satisfaction for Financial Services: The Role of Products, Services, and Information Technology. 45(9), 1194-1209.
P Kotler, G Armstrong (2010) Principles of Marketing.
J Kumar (2009) Lapsation of a life insurance policy. IX.
Mukesh Kumar, Fong Tat Kee, Amat Taap Manshor (2009) Determining the relative importance of critical factors in delivering service quality of banks. 19(2), 211-228.
N Malhotra, J Hall, M Shaw, P Oppenheim (2006) Marketing Research.
Halil Nadiri, Kashif Hussain (2005) Diagnosing the zone of tolerance for hotel services. 15(3), 259-277.
Richard Oliver (1980) A Cognitive Model of the Antecedents and Consequences of Satisfaction Decisions. 17(4), 460-469.
Richard Oliver (1996) Satisfaction: A Behavioral Perspective on the Consumer.
K Ooi, M Safa, V Arumugam (2006) TQM practices and affective commitment: A case of Malaysian semiconductor packaging organizations. 2(1), 37-55.
S Patil (2012) A STUDY ON CUSTOMER BEHAVIOUR TOWARDS LIFE INSURANCE CORPORATION OF INDIA. 2.
A Parasuraman, V Zeithml, L Berry (1990) Delivering quality service: balancing customer perceptions and expectations. 28(01), 28-0390-28-0390.
A Parasuraman, Valarie Zeithaml, Leonard Berry (1991) SERVQUAL Instrument. 67.
Anantharanthan Parasuraman, Valarie Zeithaml, Leonard Berry (1998) Alternative Scales for Measuring Service Quality: A Comparative Assessment Based on Psychometric and Diagnostic Criteria. 64, 449-482.
S Patil (2012) A STUDY ON CUSTOMER BEHAVIOUR TOWARDS LIFE INSURANCE CORPORATION OF INDIA. 2, 210-224.
A Roa (1996) TQM: A Cross Functional Perspective.
Harris Schlesinger, J Von Der Schulenburg (1991) Search Costs, Switching Costs and Product Heterogeneity in an Insurance Market. 58(1), 109.
Donald Shemwell, Ugur Yavas, Zeynep Bilgin (1998) Customer‐service provider relationships: an empirical test of a model of service quality, satisfaction and relationship‐oriented outcomes. 9(2), 155-168.
William Sherden (1987) Gaining the Service Quality Advantage. 9(2), 45-48.
Masood Siddiqui, Tripti Sharma (2010) MEASURING THE CUSTOMER PERCEIVED SERVICE QUALITY FOR LIFE INSURANCE SERVICES: AN EMPIRICAL INVESTIGATION. 3(3), 171.
J Smith (2014) Analyzing the value of life insurance as an investment. 27(3), 22-23.
Steven Taylor, Thomas Baker (1994) An assessment of the relationship between service quality and customer satisfaction in the formation of consumers' purchase intentions. 70(2), 163-178.
S Taylor (2001) Assessing the use of regression analysis in examining service recovery in the insurance industry": relating service quality, customer satisfaction and customer trust. 24(1/2).
D Upadhyaya, M Badlani (2011) Service quality perception and customer satisfaction in life insurance companies in India.
R Van Der Wal, A Pampallis, C Bond (2002) Service quality in a cellular telecommunications company: a South African experience. 12(5), 323-335.
H Wijenayaka, D Perera, W Sanjeewa (2015) Assessing Customer Relationship Management Strategies for Creating Customer Loyalty in Insurance Industry.
A Wilson, V Zeithaml, M Bitner, D Gremler (2008) Services Marketing.
Ahmad Yazid, Juliana Arifin, Mohd Hussin, Wan Wan Daud (2012) Determinants of Family Takaful (Islamic Life Insurance) Demand: A Conceptual Framework for a Malaysian Study. 7(6), 115-127.
V Zeithaml, L Berry, A Parasuraman (1993) The Nature and Determinants of Customer Expectations of Service. 21(1), 1-12.
Valarie Zeithaml, Leonard Berry, A Parasuraman (1996) The Behavioral Consequences of Service Quality. 60(2), 31-46.
Valarie Zeithaml, Mary Bitner, Dwayne Gremler (2006) Services Marketing Strategy.
V Zeithaml (2009) Service Quality, Profitability, and the Economic Worth of Customers: What We Know and What We Need to Learn. 28(1), 67-85.
Published
2019-10-18
Issue
Section
License
Copyright (c) 2019 Authors and Global Journals Private Limited
This work is licensed under a Creative Commons Attribution 4.0 International License.