A Study of Demographic Variables and Their Impact on Customer Satisfaction in Selected Private Life Insurance Companies

Abstract

Customer's needs and requirements have been changed substantially over the last few decades. With the increase in complexities of life, the requirements of customers have also become complex and diverse. Customers not only buy the products but also the bundle of needs and emotions. Companies should plan and offer products which can assist their customers in fulfilling their exact set of needs. Hence, insurance companies must move from selling insurance to changing need identification and offering suitable products to satisfy those. The major purpose of this paper is to study the impact of demographic variables on customer satisfaction in selected private life insurance companies, namely, ICICI Prudential, Bajaj Allianz, HDFC Standard Life and SBI Life.