Effect of Customer Perception on Customer Satisfaction in LIC Life Insurance

Abstract

Services sector is the fastest growing sector in India and is projected to have high growth in future. A major contributor among huge service sector is the insurance sector which plays an important role in enhancing financial intermediation, creating liquidity and mobilizing savings in the country. This paper is to investigate the relationship between the perception of customers and satisfaction. 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, multiple regression and correlation statistical tools were used to analysis of variance between determinants, the statistically significant differences and relationship between variables. It is found to be price and product value are positively influence the customer satisfaction.