International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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CUSTOMER SATISFACTION SERVICE RENDERED BY LIC OF INDIA

    3 Author(s):  DR. M. NITHYADEVI,DR. P.CHINNA SAHAYA RANI,DR. S. YESODHA

Vol -  13, Issue- 7 ,         Page(s) : 201 - 211  (2022 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

Insurance is not a commodity. It is a promise to perform in future in return for a present monetary consideration. Such a promise is made in an environment when the customer is absolutely not sure whether the promise will be fulfilled if and when the need arises. But then, if and when the need comes, it is already late for him to evaluate the customer service standards in the insurer. Yet another unique feature of the industry is the peculiar rules of the game such as (utmost good faith), indemnity etc, which underwriters are more aware of than the customers. Insurance being an intangible product, the 'technical quality of the service' depends upon its reliability.

1 Marketing Management by Philip Kotler 
2 Business Research by N.K. Malhotra 
3 Government of India (1996), Report of the Committee on Reforms on the Insurance Sector (Malhotra Report) Ministry of Finance, New Delhi.

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