EFFECTIVENESS OF LIFE INSURANCE CLAIM SETTLEMENT IN NEPALESE CUSTOMER'S SATISFACTION

Abstract

This study examine post-purchase satisfaction of policyholders utilizing various life insurance policies. The research focuses on three primary determinants of post-purchase satisfaction: Agent Behavior, Company Trust and Image, and Customer Service, with each determinant defined by several sub-items to capture their comprehensive impact. Data was collected via a structured questionnaire designed to explore different aspects of customer satisfaction related to claim settlements. The gathered data underwent a series of statistical tests. Initially, descriptive analysis was used to summarize and was followed by correlation analysis to examine relationships between variables. Finally, regression analysis quantified the impact of independent variables on the dependent variable. Reliability tests confirmed a high level of data consistency. The result revealed that the correlation matrix reveals positive relationships between the independent variables and post-purchase satisfaction. Agent behavior has a positive correlation with post-purchase satisfaction, indicating that better agent behavior increases post purchase satisfaction of life insurance holders. There is also a moderate positively relationship between company trust & image and post-purchase satisfaction, meaning higher trust and a positive company image enhance satisfaction. Additionally, customer service shows a moderate positive correlation with post-purchase satisfaction, suggesting better customer service leads to higher satisfaction. The results of the analysis of variance test also revealed a significant relationship between the dependent variables and the independent variable. In conclusion, this study on post-purchase satisfaction in life insurance policies identified several key findings that have important implications for the insurance industry and policyholders. The overall satisfaction after purchasing a life insurance policy is significantly correlated with the company trust and image, agent behavior, and customer service.