Bharath ~Presentation.pptx a study on customer preception towards insurance policies

Bharath ~Presentation.pptx a study on customer preception towards insurance policies

1. A study based on Customer Perception towards the Insurance Policies Bharath S 22BAF010 III B.COM A&F Mrs. Gayathri

2. INTRODUCTION The insurance sector reforms since the 2000 insurance bill have created significant growth opportunities. With the entry of private players and MNCs, fierce competition has driven efficiency and varied marketing strategies. The sector is rapidly expanding, with great potential for further growth in India despite facing several challenges OBJECTIVES: • To determine the awareness level of consumers regarding life insurance policies and the number of consumers who have actually invested in life insurance policies. • To know the satisfaction level of consumers with respect to private and public insurers. • To examine the attributes that consumers prefer while purchasing a life insurance policy

3. REVIEW OF LITERATURE Ryan and Schmit (2010) concluded that customer satisfaction was positively related to employee perceptions of a manageable workload, lower stress, and opportunities for training and development. Reenu Lulla and Monu Bhargava (2012) in their research work had concluded that insurance companies shall improve customer satisfaction levels; the public sector needs to provide customer information about insurers’ prices, products, and financial strength to ensure good market performance. Rudra Saibaba (2014) in his research work revealed that the majority of customers were satisfied with the services that the corporation offered. A few of the customers expressed dissatisfaction over the lack of advertisements for new policies and the unprofessionalism of the agents.

4. Research Methodology Research Design: The study adopts a Descriptive Research Design to analyze customer perception towards insurance policies. Descriptive research is used as it helps in describing the characteristics of the population or phenomenon being studied. Data Collection: Both primary and secondary data were utilized to conclude the study. Primary Data: The primary data was collected using the scheduling method. A structured questionnaire was prepared and administered to the selected sample respondents to gather relevant data. Secondary Data: Secondary data was obtained from existing literature, reports, publications, and online sources related to insurance policies and customer perception. Sampling Method: A simple Random Sampling technique was employed to draw the requisite sample from the population of insurance policyholders in Coimbatore. This method ensures that each member of the population has an equal chance of being included in the sample. Sampling Area: The sampling area selected for the study was Coimbatore. This area was chosen due to its diverse population and the presence of numerous insurance policyholders, providing a representative sample for the study. Sample Size: The sample size comprises 140 policyholders from various insurance companies. This sample size is adequate to draw meaningful conclusions and ensure the reliability of the study. Statistical Tools: To analyze the data, the following statistical tools were applied: Chi-square test: This test was used to examine the association between different categorical variables and customer perception towards insurance policies. Simple Percentage: The simple percentage method was used to calculate the proportion of respondents' answers to various questions in the questionnaire, providing a clear understanding of customer perception.

5. Data Analysis and Interpretation The collected data were analyzed using the chi-square test and simple percentage method to identify patterns, trends, and relationships in customer perception. The results were interpreted and presented in the form of tables, charts, and graphs to provide a comprehensive understanding of the findings.

6. THANK YOU