A STUDY OF CUSTOMER INVESTMENT BEHAVIOUR TOWARDS LIFE INSURANCE POLICIES WITH SPECIAL REFERENCE TO INSIIRANCE COMPANIES IN BATTICALOA

Abstract

In marketing environment customers are the key factor. The main focus of this study is to investigate the investment behavior of customers. It is about study to the factors determine the customer's behavior towards investment in insurance. Sri Lanka is a country where the average selling of life insurance policies is still lower than many western and Asian countries, with the large population in world. The Sri Lankan insurance markets looking very prospective to many multinational and Sri Lanka insurance companies for expanding their business and market share. So far lack of research has been carried out in Sri Lanka to investigate the impact of service quality, company loyalty, ease of procedures, satisfaction level, company image, company-client relationship on customer investment behavior. In doing so, a survey is administered to 200 customers who are investing in insurance companies in Manmunai North Division in Batticaloa. Researcher hypothesized and found that from both service quality, company loyalty, ease of procedures, satisfaction level, company image, company-client relationship was positively related to customer investment behavior. Moreover, this study found that the from both customers perceive high level of service quality, company loyalty, ease of procedures, satisfaction level, company image, company-client relationship and have high level investment behavior. Further, the findings of this study offer guidance to the organizations looking to be investment within the organization. Insurance industry is in a turbulent situation. This study will facilitate the insurance companies to know. l' the opinions of customers regarding insurance industry and specifically opinions towards traditional and updated life insurance plans. The insurance company able to reduce the operation time, account handled carefully, customer's instructions should be carried out carefully, companies should be a personal touch between the customers and staff, staff should be knowledgeable about the services offer red, staff should be more courteous towards the ir customers, staff members should apologies for mistakes, complaint should be handled then and there, regarding complaint customers should receive follow, up contact and disagreements with the customers should be avoided.