An Insight on Services Offered By LIC-A Customer Perspective

Dr.R.Alamelu, S.Vijay

The main objective of the study is to provide a new insight on customer expectations over the services offered by LIC. This study finds out the policy holders opinion regarding various aspects like skills and competency of employees, service delivery process, technological capability of the organisation and claim settlement method. Both Primary and secondary data were used for this study. Primary data was collected from existing policy holders of LIC. Samples of 150 respondents was collected from three different branches in Pudukkottai district. Simple Random Sampling method is adopted for the collection of the information. Descriptive Statistics, correlation analysis were used for this study and their results was interpreted. LIC can offer more attractive products with low premium rate in order to compete among private insurer. It could be suggested that though LIC holds its power in creating trust and instilling confidence in the minds of the policyholders, but lacks in various service delivery aspects such as solving problems, providing prompt delivery of services and responses to the policyholders. LIC may focus on the efficient and effective delivery of services to the policyholders which would enhance corporate goal of increasing insurance coverage, more profit and increment in market value and share.