Consumer Voice ::Insurance Services

Test Report Preview

	Insurance services
	India has a fast-growing insurance sector market. Ever since private players were allowed entry, the scenario has become even more competitive.

consumer-voice.org, for the first time in India, conducted comparative testing of insurance services of 23 leading life and non-life insurance companies, rating them on customer satisfaction for a host of service quality parameters. All the four sectors of insurance – home, motor, life, and health were assessed.

	Consumer-voice.org study findings show that health insurance has the most dissatisfied customers in India. Public Sector companies are also losing the confidence of customers insofar as health insurance is concerned. Tardy clearance of mediclaims, and inefficient cash-less facilities are just some of the drawbacks.
	Home insurance sector lags behind in the race to attract consumers. The home insurance sector certainly needs to re-invent itself and provide better feature to its customers.
	Consumers do not exercise enough discretion, or do enough research while choosing their motor insurance company. The decision is left to the car dealer, more often than not.

How the insurance sector study was conducted

The VOICE study was conducted over a period of three months (October-December 2005) in Delhi NCR, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad and Lucknow, covering a total of 3,600 consumers as respondents.

The largest sample size of respondents was that of life insurance customers (1,250), followed by medical (1,080), car (949) and home insurance (511) respectively.

The major test parameters for evaluating consumer satisfaction were:

	Tangibility: Physical service facilities and infrastructure
	Reliability: Ability to perform and deliver on the promised service levels
	Responsiveness: Willingness to bridge customer and service gaps
	Assurance: Customer knowledge and customisation capabilities
	Empathy: Willingness to associate with customer perils; customised attention and service.

Read more to find out.....

	Which insurance company tops in customer satisfaction in which sector?
	Is LIC still on top in the life insurance segment?
	Which insurance company does best in customer complaint and problem solving?
	Which health insurance company offers best claim redress, and best cash-less services?
	Which company provides the most exact claim valuation?

To read the entire study, please click here.

Why subscribe?

	consumer-voice.org does not accept any corporate sponsorship and relies entirely on individual subscriber support.
	With each subscription, you get access to latest independent test reports on products and services.
	consumer-voice.org gives free legal counselling to all its online subscribers.

List of products tested by consumer-voice.org, Click here!