A STUDY ON CONSUMER BEHAVIOR TOWARDS LIFE INSURANCE PRODUCTS WITH REFERNCE TO IDBI FORTIS COMPANY LIMITED, DINDIGUL DISTRICT

M. Vijaya Ragunathan

Volume : VI, Issue : VIII, August - 2016

A STUDY ON CONSUMER BEHAVIOR TOWARDS LIFE INSURANCE PRODUCTS WITH REFERNCE TO IDBI FORTIS COMPANY LIMITED, DINDIGUL DISTRICT

M. Vijaya Ragunathan

Abstract :

Understanding customer is central to effective marketing, and yet our understanding of how customers buy financial services is rather limited. The ever increasing pressure for better competitiveness in the insurance industry calls for models, methods and tools that can improve the analysis and understanding of insurance consumer behaviour. This paper explain the behaviors of customer for purchasing service and attempts to explore the effect of customers’ behaviour in financial services especially in Life Insurance Industry. It identifies elements of customer satisfaction and its behaviors, which are to be very important for survival of business using case studies in Life Insurance Industry. Customer satisfaction and to understand their needs is an important element of competitive quality. The purpose of this study is to explore Consumer behaviour and satisfaction from life insurance products depends upon various attributes like search, experience and credence factors. Firms strive to identify customer requirements and develop strategies that allow them to meet or beat the service level provided by their competitors. This exploratory research is an attempt to study the customer behaviour and services rendered with reference to IDBI Fortis Life Insurance Industry. The results derived from data analysis reveal significant results with respect to Consumer behaviour. The study has wide implications for industry in particular.