| Title : | Impact of service quality dimensions on customer satisfaction and customer loyalty in Nepalese insurance companies | | Material Type: | printed text | | Authors: | Nisha Karki, Author | | Publication Date: | 2017 | | Pagination: | 124p. | | Size: | GRP/Thesis | | Accompanying material: | 10/B | | Languages : | English | | Descriptors: | Customer satisfaction
| | Keywords: | 'customer customer satisfaction banks bank and banking commercial nepal' | | Class number: | 658.812 | | Abstract: | Insurance market is a substantial market. World over there are thousands of insurance companies with large volumes of capitalization and funds employing very large numbers of employees on one hand, and much larger numbers of people and business organizations which are covered by insurance benefits on the other.Insurance companies believe that customers are the major purpose behind their services and the activities. This is why the insurance companies are more concerned with customer satisfaction, customer loyalty and their retention. Insurance companies have realized that service quality is a very important factor for their success as service quality is a strategy that can help them build long-lasting relationships with their customers and increase their profits through efficient management systems and the application of customer focused strategies. Recently, almost every sectors of the financial services industry are trying to use service quality to achieve a variety of outcomes to enhance customer base. Service quality is comprehensive strategy with business and marketing that the technology and business activity is related to the customer. Service quality is the critical issues in customer satisfaction and customer loyalty for financial institution. Service quality also improves management of customer satisfaction and loyalty.
The main objective of the study is to analyse the relationship between service quality, customers’ satisfaction and customers’ loyalty in Nepalese insurance companies. Other objectives are to analyse the perception of customers on the level of service quality dimensions (reliability, responsiveness, assurance, tangibility, empathy and technology) of the Nepalese insurance companies, to examine the relationship of tangibility, reliability, responsiveness, assurance and empathy on customer satisfaction and customer loyalty, to determine the impact of selected service quality dimensions on customer satisfaction and loyalty, to find out the most important factor affecting customer satisfaction and loyalty in Nepalese insurance companies.
This study is based on primary source of data, which were gathered from 16 Nepalese insurance companies. The data obtained from the questionnaires survey are analysed through SPSS. The instruments are descriptive statistics and inferential statistics. To analyse the reliability and validity of the data, Cronbach’s alpha (α) is used. Frequencies, percent, mean, correlation and test of significance are used in this study to measure the determinants of customer satisfaction and customer loyalty. This study has employed descriptive research design and casual comparative research design to deal with issues associated with the service quality of Nepalese insurance companies. In order to achieve the objectives questionnaire was made and distributed to different customer of Nepalese insurance companies. The questions were asked in the form of multiple choice, ranking, and five point likert scale questions. All together 175 questions were distributed and out of which 150 questionnaire were collected. The likert scale questions of different variables on service quality were measured in 5-point likert scale.
The result of correlation analysis indicates that tangibility has positive correlation with customer satisfaction and customer loyalty. Similarly, the others variables like reliability, responsiveness, assurance and empathy are also positively related to customer satisfaction and customer loyalty.The study found that there is a positive and significant relationship between independent variables (tangibility, reliability, responsiveness, assurance and empathy) and dependent variable (customer satisfaction and customer loyalty). The result of regression analysis shows that, all the independent variables (tangibility, reliability, responsiveness, assurance, and empathy) are positive and significant with dependent variable (customer satisfaction). The beta coefficients for tangibility, reliability and assurance are significant at 1 percent level of significance. However, the beta coefficient for responsiveness and empathy are significant at 1 percentas well as 5 percent level of significance.Similarly, the result of regression analysis shows that, all the independent variables (tangibility, reliability, responsiveness, assurance and empathy)are positive and significant with dependent variable (customer loyalty). The beta coefficient for all independent variables are significant at 1 percent as well as 5 percent level of significance.It indicates that higher the tangibility, technology and reliability, higher would be the customer loyalty
Recommendations are given on the basis of the findings of the study. The study revealed positive correlation coefficient between customer satisfaction and all the independent variables. The correlation coefficient between customer loyalty and all the independent variables are also positively correlated. Positive and significant correlation coefficient recommends that insurance company should focus on improving the service quality dimensions.
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Impact of service quality dimensions on customer satisfaction and customer loyalty in Nepalese insurance companies [printed text] / Nisha Karki, Author . - 2017 . - 124p. ; GRP/Thesis + 10/B. Languages : English | Descriptors: | Customer satisfaction
| | Keywords: | 'customer customer satisfaction banks bank and banking commercial nepal' | | Class number: | 658.812 | | Abstract: | Insurance market is a substantial market. World over there are thousands of insurance companies with large volumes of capitalization and funds employing very large numbers of employees on one hand, and much larger numbers of people and business organizations which are covered by insurance benefits on the other.Insurance companies believe that customers are the major purpose behind their services and the activities. This is why the insurance companies are more concerned with customer satisfaction, customer loyalty and their retention. Insurance companies have realized that service quality is a very important factor for their success as service quality is a strategy that can help them build long-lasting relationships with their customers and increase their profits through efficient management systems and the application of customer focused strategies. Recently, almost every sectors of the financial services industry are trying to use service quality to achieve a variety of outcomes to enhance customer base. Service quality is comprehensive strategy with business and marketing that the technology and business activity is related to the customer. Service quality is the critical issues in customer satisfaction and customer loyalty for financial institution. Service quality also improves management of customer satisfaction and loyalty.
The main objective of the study is to analyse the relationship between service quality, customers’ satisfaction and customers’ loyalty in Nepalese insurance companies. Other objectives are to analyse the perception of customers on the level of service quality dimensions (reliability, responsiveness, assurance, tangibility, empathy and technology) of the Nepalese insurance companies, to examine the relationship of tangibility, reliability, responsiveness, assurance and empathy on customer satisfaction and customer loyalty, to determine the impact of selected service quality dimensions on customer satisfaction and loyalty, to find out the most important factor affecting customer satisfaction and loyalty in Nepalese insurance companies.
This study is based on primary source of data, which were gathered from 16 Nepalese insurance companies. The data obtained from the questionnaires survey are analysed through SPSS. The instruments are descriptive statistics and inferential statistics. To analyse the reliability and validity of the data, Cronbach’s alpha (α) is used. Frequencies, percent, mean, correlation and test of significance are used in this study to measure the determinants of customer satisfaction and customer loyalty. This study has employed descriptive research design and casual comparative research design to deal with issues associated with the service quality of Nepalese insurance companies. In order to achieve the objectives questionnaire was made and distributed to different customer of Nepalese insurance companies. The questions were asked in the form of multiple choice, ranking, and five point likert scale questions. All together 175 questions were distributed and out of which 150 questionnaire were collected. The likert scale questions of different variables on service quality were measured in 5-point likert scale.
The result of correlation analysis indicates that tangibility has positive correlation with customer satisfaction and customer loyalty. Similarly, the others variables like reliability, responsiveness, assurance and empathy are also positively related to customer satisfaction and customer loyalty.The study found that there is a positive and significant relationship between independent variables (tangibility, reliability, responsiveness, assurance and empathy) and dependent variable (customer satisfaction and customer loyalty). The result of regression analysis shows that, all the independent variables (tangibility, reliability, responsiveness, assurance, and empathy) are positive and significant with dependent variable (customer satisfaction). The beta coefficients for tangibility, reliability and assurance are significant at 1 percent level of significance. However, the beta coefficient for responsiveness and empathy are significant at 1 percentas well as 5 percent level of significance.Similarly, the result of regression analysis shows that, all the independent variables (tangibility, reliability, responsiveness, assurance and empathy)are positive and significant with dependent variable (customer loyalty). The beta coefficient for all independent variables are significant at 1 percent as well as 5 percent level of significance.It indicates that higher the tangibility, technology and reliability, higher would be the customer loyalty
Recommendations are given on the basis of the findings of the study. The study revealed positive correlation coefficient between customer satisfaction and all the independent variables. The correlation coefficient between customer loyalty and all the independent variables are also positively correlated. Positive and significant correlation coefficient recommends that insurance company should focus on improving the service quality dimensions.
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