Customer perception towards general insurance: A factor analysis approach

Authors : Ritu Gangil, Swati Vishnoi

DOI : 10.18231/j.jmra.2020.005

Volume : 7

Issue : 1

Year : 2020

Page No : 15-20

With the increase in risk there is need of insurance to bear the losses. Insurance is the instrument used as the financial protection against various contingency. This paper examines the customer perception towards the General Insurance. A study had been conducted at Gwalior region with the sample of 200 respondents to find out the perception of the customer (policyholders). In this context, the respondents’ opinion on the various related statements were collected with a5 point scaling. Reliability, Factor analysis, multivariate technique had been applied on the data. The result concluded that loyalty, transparency, proficiency, reliable and convenient services are the five factors from the 18 statements on the basis of the expectation of the customers. This study signifies that various customer had different expectation from the insurance company in the studied area.

Keywords: Insurance market, General insurance, Customer perception.


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