Influence of Customers Perceptions on LIC Products and Services

Abstract

The Insurance industry in India has seen an array of changes in the past one decade. The economic scenario which emerged after globalization, privatization and liberalization has thrown a new challenge before the insurance sector. Insurance is a protection against economical losses arising due to an unexpected event. The objective of this paper is to investigate the influence of customer’s perceptions determinants on LIC products in Chengalpattu district, Chennai. required samples size for this study is 236. These sample respondents are selected by systematic random sampling technique. The data analysis procedure is conducted through survey questionnaire method.  Responses are coded and data entered statistical package for social science (SPSS).  Descriptive statistics, ANOVA and Post-hoc statistical tools were used to analysis of variance between determinants, the statistically significant differences and relationship between variables. It is found that there is significant difference of opinion towards customers perception based on education qualification.