Impact of Privatization on Life Insurance Industry in India

The protection of policyholders'' interests and customer satisfaction are the most important issues which are to be taken care of after the privatization of the industry. In view of the above said issues an attempt has been made in the present research work to study the service quality perceptions and assess the attitude of life insurance policyholders. The study envisages assessing the attitude of the policyholders towards the phenomenon of privatization, the changes brought in the industry after privatization and the consequent satisfaction levels. The present study has been carried out to study the progress and trends in the life insurance industry in India after privatization;to conduct plans/policies comparison of different players;to probe into the availability of insurance services as to coverage and distribution reach;to seek opinion of customers regarding premium rate structure;to find out customer satisfaction towards plans/policies, distribution channels and promotional measures and to study customer satisfaction levels regarding claim settlement and grievance handling mechanism.