IMPACT OF SERVICE QUALITY ON CUSTOMER SATISFACTION WITH SPECIAL REFERENCE TO HDFC LIFE INSURANCE, MADURAI

Abstract

This study will attempt to determine the impact of service quality is main factor for the success of a bank on customer satisfaction to acquire life insurance and maintain that continuously at long-time. Service Quality helps to distinguish the banking performance from the competitors. In this study, aim to how HDFC Life Insurance, Madurai maintain the service quality and keep goodwill image are impact on customer satisfaction. Quantitative data was collected using the non- probability self administered questionnaire that consists of questions with 5-points Likert scales distributed to our samples of individuals. By using ANOVA and Correlation analysis, it is found that, service quality factors are significant to HDFC Life Insurance holders' satisfaction. The result indicated the existence of significant differences between these business segments and they confirmed a relationship between the length of a customers' relationship with the HDFC Life Insurance holders' and their level of satisfaction experienced. From the result, service quality factors are (tangible, reliability, responsiveness, assurance and empathy) have positive and significant impact on insurance holders' satisfaction. The findings from the study should guide to HDFC Life for distinguish between the satisfaction experienced generated by the service quality used in specific segments in insurance banking.