A Study on Policyholder's Perception and Satisfaction Towards Insurance Repository Services

Abstract

The current research focuses on the following objective: the general and specific Policyholders' impressions and satisfaction estimates concerning insurance repository services. This is to find out the experiences with these services how they are viewed by policyholders, and the satisfaction level of policyholders. The work utilizes surveys and interviews with the policyholders to get a wider understanding of the issue due to using a mixed research method. Several services related to insurance repositories are considered in the study, such as the look and feel of the websites and related applications, the speed and efficiency of the digital channels and platforms, the customer service support, the support for commencement of e-Insurance Accounts (eIA) and overall user experience. It also focuses on certain features like modification in the policyholder's or bank's details, policy renewal premium or maturity due date, linking Aadhar with the policies, change in fund options, claim notification procedures, and declaration of policies and Insurance Account Statements, online transactions, etc. Using data analysis and synthesis, the objective of this research is to find out the major factors that affect the policyholders' attitudes and level of satisfaction. It aims to identify existing gaps in insurance repository services as the strengths, weaknesses, opportunities, and threat analysis of the service. Consequently, the outcomes of this study will be beneficial for insurance service providers and policymakers to improve their services, develop relevant strategies for offering services that customers desire, and ultimately increase generalized satisfaction of services that are under the insurance repository service domain.