Exploration and evaluation of determinants of Insurance product from customer’s perspective in the city of Ahmedabad: An empirical study

This study is attempt towards finding out what factors mostly influence customers while making company selection. List of factors are taken into account for the purpose like Tax benefits, Goal Achievement, Contingencies, Convenience, Risk aversion etc. The variations on the perception of choices with regard to factors will provide a useful insight to insurance companies when selecting their marketing strategies, concerned about the value for money. Insurance institutions need to create a lucrative customer base in order to increase their market share and need to identify factors that influence the choice of insurance companies‟ selection and work on improving them. The insurance companies have realized the need to adopt a people-oriented approach, rather than only concentrating on the profit-oriented approach, towards improving customer service. Since customers are becoming more demanding and sophisticated, therefore, it has become important for the insurance sector to consider each of this factor in their strategies to achieve market and customer growth.