SERVICE QUALITY AND CUSTOMER SERVICE IN LIC OF INDIA
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Transcript of SERVICE QUALITY AND CUSTOMER SERVICE IN LIC OF INDIA
Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai
It is the largest insurance company in India
The company was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India
Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation
the Life Insurance Corporation of India, which commanded a monopoly of soliciting and selling life insurance in India, created huge surpluses, and by 2006 was contributing around 7% of India's GDP
PEOPLE The employees are confident and clear understanding
about services
Employee-customer relation is almost good.
Employees in the organization are satisfied.
Employees give their personal attention.
Customers having complaints about their service delaying.
Friendly and prompt service to its customers
PROCESS
Prospective customers have to take token. Based on each token number complaints will be handled.
Customers data’s are stored in the fully computerized format.
PHYSICAL EVIDENCE
Well dressed employees and agents (no uniform)
Air conditioned cabins
Fully furnished interiors
Computer system
KNOWLEDGE GAP
The employees tries to make a better relation with customers. They try to interact more to customer to meet their expectation and satisfying their needs.
SERVICE DESIGN AND STANDARDS GAP
This gap mainly arise when the service design does not meet the customer and employees needs.But in their case they have better service design.
SERVICE PERFORMANCE GAP
This means the firm not delivering to service standards.
Sometimes service delay happens because of the crowd (customers).
COMMUNICATION GAP
This means the firms don’t performs their promises.
Some of the customers are not getting their promised services from some employees in their expected time.
SEGMENTATION
Mainly they segment the market into 3, (based on the age of the customers-employed people)
1. youngster.
2. Middle age.
3.above 50 (old age)
TARGETING
Their major group are middle & lower income
peoples.(rural area development)
POSITIONING
“Start Saving Today For Better Tomorrow ”
LIC having a better image in the mind of peoples.
They works maximum to create a good image in the mind of their customers and also to the public.(through satisfying customer needs)
NET PROMOTER SCORE(NPS)
No Of Promoters -16
Neutral - 6
No Of Detractors - 3
Total - 25
Promoter-detractor/Total - 0.52
Nps= - 52
Need to improve physical infrastructure and appearance of office
Introduce uniforms for employees
Provide training to the employees and agents in customer interaction.
Tangibles and empathy has z value < 1.96