Term Insurance Company ’ s Perspective of Information Management and Its Influence on Continuous Improvement ( Ci ) To Improve Customer Satisfaction (original) (raw)
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Proceedings of the International Conference on Industrial Engineering and Operations Management Rabat, Morocco, April 11-13, 2017, 2017
The study presents findings on how a local insurance uses information management to continuously improve customer satisfaction. The use of information and the way it is managed at this insurer are reviewed and CI tools related to information management are proposed. A survey tool was developed to acquire data in terms of information management using a 5-points Likert Scale. The survey intended to shed lights on information management at this local insurer, and to what extent information collected externally (from customers in particular) as well as internally was used in an effort to continuously improve customers' satisfaction. Company policy establishes a framework within which information should be used in order to continuously improve services to satisfy customers. However, the analysis of the survey results, although inconclusive, shows that employees dealing directly with customers explicitly indicated that there was lack of understanding of the rationale of collecting critical information, and that reporting channels designed to feed information into the system were either misunderstood or simply unknown. This paper builds upon, though limited, related research as well as papers, therefore widening the knowledge in the field of CI in the insurance sector.
Effect of Customer Information on Consumer Satisfaction: A Case of the Nic Bank Limited
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Purpose: The purpose of the study was to establish the effect of customer information on consumer satisfaction, a case of the NIC bank limited.Methodology: The descriptive survey research design was preferred for the study. The population of the study was over 10,000 credit card holders in NIC Bank. Snow balling sampling technique was appropriate for this study because credit card customers were not keen on cooperating because of the sensitivity of information gathered and only cooperated on referral from friends. Fishers’ formula was used for calculating the sample size of an infinite population which amounted to 384 but for the purpose of improving the response rate, the study added 16 more respondents to total up to 400. The study used primary data. The study used a questionnaire as the preferred data collection tool. Information was sorted, coded and input into the statistical package for social sciences (SPSS) for production of descriptive statistics. The results were presented...
Analyzing the Customer Satisfaction with Special Reference to Selected Insurance Companies
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This article focuses on the customer satisfaction survey, and the responsible factors which are affecting the satisfaction of the customer from selected the insurance companies. First parts of this article given the introduction about the customer satisfaction and other indicators, factors in the success of the insurance companies have identified. It has also given the important theories of customer satisfaction for better understanding of customer perception towards the insurance and its product and policies. After that, factors such as trust, employee behavior, quality of service, claim settlement process and grievances solutions for customer satisfaction as the most important factors were identified and understand the customer relationship is the most influential indicators of success for the insurance industry.
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Kuwait Chapter of Arabian Journal of Business and Management Review, 2016
In today's competitive world, customers are the main focus of companies and their loyalty is the main factor in gaining competitive advantage of organizations. Nowadays, the intensification of competition in the manufacturing and services area can be seen in worldwide. Increasing competition in services, in industries such as hospitality, banking, insurance is quite evident and this factor is getting more difficult for customers keep and increase their loyalty in this space day by day. So provide services quality is a major challenge of active companies in this field. In Addition, in the new business environment characterized by volatility and increasing complexity, ability of a company to establish and keep competitive advantage is in its knowledge. Nowadays, communities are increasingly moving towards to be knowledge-based. Therefore, it can be said that the implementation and management of knowledge to enhance organizational performance and dynamic decision-making is essential. This research was written by purpose of understanding and focusing on services quality management and knowledge management and interaction of these two items with the customer loyalty of various insurance products.
One of the most sensitive actions taken in attracting and satisfying needs of customers is establishing a dynamic information mechanism and feedback process between organization and customers. Furthermore, the ever-increasing importance of employees in competitive environment is noticeable. Therefore, both employees and customers are concerned as sources of information that is a determinant factor in organizational success .The aim of this study is finding the differences between perception of employees and customers toward service quality in Insurance industry of Iran. The dimensions of SERCQUAL model (Tangibles, Reliability, Assurance, Responsiveness, and Empathy) were adopted to design the research questionnaire. 254 out of 420 questionnaires were completed by customers and employees. The questionnaires were analyzed by Pearson, Kolmogorov-Smrirnov, and T-test. The results showed that there is a significant difference between the perceptions of staffs and customers toward the Tangibles dimension while the perceptions of both groups toward other dimensions are similar.
Business Perspectives, 2018
Financial performance is the fundamental aspect to test the performance of the companies. The performance of insurance sector, like any other service industry, is supposed to depend significantly on customers. When it comes to customers, it is an established fact that customer satisfaction would be an important element. Customer satisfaction primarily depends on the quality of service it gets. It can be safely hypothesized that better service quality would lead to higher satisfaction, which would ultimately lead to higher profits for the company. Studies on this relationship in the insurance sector for Saudi Arabia are missing. Hence, this study aims at studying both the profitability of companies and quality of service and tries to relate it to customer satisfaction. The results are quite surprising, as the study establishes that although the qualities of services are found wanting in many areas, companies are earning good profits. A probable reason could be the statutory nature of the services. Nevertheless, this study recommends improving the quality of services and differentiating services between age groups for further improvement.
Mediterranean Journal of Social Sciences, 2015
The main target of this article is to examine the relationship between communications, customer knowledge and customer loyalty in insurance companies in Saudi Arabia. This study adopted Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the association between communication, customer knowledge and customer loyalty. The sample comprised of 399 from insurance companies in Saudi Arabia and data was obtained from questionnaires distributed to the sample. Moreover, the questionnaire was adopted from many authors as explained in methodology section. This article found a positive and significant relationship between communication and customer loyalty. In the same path, this study found that customer knowledge has a positive and significant effect on customer loyalty. Moreover, this study has significant contributions in the theoretical, practical and policy market that may be integrated together in order to improve customer loyalty. Finally, the limitation and future recommendations were provided at the end of this study.
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Customer satisfaction continues to be one of the most important topics in insurance companies. Consequently, theorists are continuing to explore new models and methods that may unlock meaningful information about customer satisfaction. This study was conducted on in various parts of Chennai city who had taken policies. This study was done through the being asked to fill up the questionnaires which were specifically designed to find out their satisfaction level towards the insurance policies of HDFC SLIC. The company deals with varieties of policies like individual products, group products, social products and rural products. The company has number of customers. The research design used for this study is descriptive research. The data were collected on both primary and secondary data. The sample size of the study is 150 customers used to this study. Data analysis was carried out and findings are listed down. Suitable suggestions have been provided and hope it’s useful for the company. This study revealed that the most of them are satisfied with the policies they have taken and there are certain who were not comfortable with the company policies. The company should take these into consideration and have to improve where they are weak.
ICT Application in the Insurance Industry: Its Impact in Customer Relationship Management
Academic Journal of Interdisciplinary Studies, 2015
The insurance companies are getting aware that due to the business environment which is becoming more and more competitive nowadays, their priority should be the control over the final market. That means holding good relationship with customers. Companies can get feedback of what customers are looking for by understanding them better, their choices, preferences and what they expect and what they want from company's product or services offered. The advance in ICT offer new ways of managing relationship. This paper try to give a better understanding of the effects of ICT in customer relationship management in the insurance industry in Albania. In order to be more competitive in the market, the question is: "How are the insurance companies adopting the latest Information Technology advances and is this a good tool for creating adding value to the product they offer?"