Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia)

Fanta Tariku Wadajo

doi:doi:10.11648/j.ebm.20230903.11

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Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia)

Fanta Tariku Wadajo

Published in European Business & Management (Volume 9, Issue 3)

Received: 25 January 2023 Accepted: 8 May 2023 Published: 29 May 2023

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Abstract

This study looks at how three insurance companies that offer life insurance rate their customers' satisfaction with their services. This study also assesses the connection between customer happiness and service quality, including its dimensions. Like many other financial services sectors, the life insurance industry is confronted by a market that is changing quickly, new technologies, uncertain economic conditions, fierce competition, and increasingly demanding clients For the aim of the study, primary data were gathered using questionnaires with a five-point Likert scale that were built with consideration for all aspects of service quality, including functional dimensions, image, technical quality, and price. Data were collected from samples of 308 consumers using the convenience sampling technique, and STATA version 15 was utilized to analyze the data using descriptive and multiple linear regression statistics. The results of this study show that customer satisfaction is positively and significantly impacted by characteristics of service quality such as image, responsiveness, dependability, and technological quality. On the other hand, assurance and cost have a negative and significant effect on consumer satisfaction. Additionally, customer retention and satisfaction in the chosen insurance firms are related to overall service quality. When creating a firm's strategy, attributes like image, responsiveness, reliability, assurance, and technological excellence should be given priority because they allow a company to increase customer satisfaction.

Published in	European Business & Management (Volume 9, Issue 3)
DOI	10.11648/j.ebm.20230903.11
Page(s)	43-50
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Customer Satisfaction, Service Quality, Service Quality Dimensions

References

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APA Style

Fanta Tariku Wadajo. (2023). Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia). European Business & Management, 9(3), 43-50. https://doi.org/10.11648/j.ebm.20230903.11

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ACS Style

Fanta Tariku Wadajo. Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia). Eur. Bus. Manag. 2023, 9(3), 43-50. doi: 10.11648/j.ebm.20230903.11

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AMA Style

Fanta Tariku Wadajo. Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia). Eur Bus Manag. 2023;9(3):43-50. doi: 10.11648/j.ebm.20230903.11

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@article{10.11648/j.ebm.20230903.11,
  author = {Fanta Tariku Wadajo},
  title = {Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia)},
  journal = {European Business & Management},
  volume = {9},
  number = {3},
  pages = {43-50},
  doi = {10.11648/j.ebm.20230903.11},
  url = {https://doi.org/10.11648/j.ebm.20230903.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20230903.11},
  abstract = {This study looks at how three insurance companies that offer life insurance rate their customers' satisfaction with their services. This study also assesses the connection between customer happiness and service quality, including its dimensions. Like many other financial services sectors, the life insurance industry is confronted by a market that is changing quickly, new technologies, uncertain economic conditions, fierce competition, and increasingly demanding clients For the aim of the study, primary data were gathered using questionnaires with a five-point Likert scale that were built with consideration for all aspects of service quality, including functional dimensions, image, technical quality, and price. Data were collected from samples of 308 consumers using the convenience sampling technique, and STATA version 15 was utilized to analyze the data using descriptive and multiple linear regression statistics. The results of this study show that customer satisfaction is positively and significantly impacted by characteristics of service quality such as image, responsiveness, dependability, and technological quality. On the other hand, assurance and cost have a negative and significant effect on consumer satisfaction. Additionally, customer retention and satisfaction in the chosen insurance firms are related to overall service quality. When creating a firm's strategy, attributes like image, responsiveness, reliability, assurance, and technological excellence should be given priority because they allow a company to increase customer satisfaction.},
 year = {2023}
}

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TY  - JOUR
T1  - Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia)
AU  - Fanta Tariku Wadajo
Y1  - 2023/05/29
PY  - 2023
N1  - https://doi.org/10.11648/j.ebm.20230903.11
DO  - 10.11648/j.ebm.20230903.11
T2  - European Business & Management
JF  - European Business & Management
JO  - European Business & Management
SP  - 43
EP  - 50
PB  - Science Publishing Group
SN  - 2575-5811
UR  - https://doi.org/10.11648/j.ebm.20230903.11
AB  - This study looks at how three insurance companies that offer life insurance rate their customers' satisfaction with their services. This study also assesses the connection between customer happiness and service quality, including its dimensions. Like many other financial services sectors, the life insurance industry is confronted by a market that is changing quickly, new technologies, uncertain economic conditions, fierce competition, and increasingly demanding clients For the aim of the study, primary data were gathered using questionnaires with a five-point Likert scale that were built with consideration for all aspects of service quality, including functional dimensions, image, technical quality, and price. Data were collected from samples of 308 consumers using the convenience sampling technique, and STATA version 15 was utilized to analyze the data using descriptive and multiple linear regression statistics. The results of this study show that customer satisfaction is positively and significantly impacted by characteristics of service quality such as image, responsiveness, dependability, and technological quality. On the other hand, assurance and cost have a negative and significant effect on consumer satisfaction. Additionally, customer retention and satisfaction in the chosen insurance firms are related to overall service quality. When creating a firm's strategy, attributes like image, responsiveness, reliability, assurance, and technological excellence should be given priority because they allow a company to increase customer satisfaction.
VL  - 9
IS  - 3
ER  -

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Author Information

Fanta Tariku Wadajo

Department of Management, College of Business and Economics, Ambo University, Addis Ababa, Ethiopia

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Plain Text BibTeX RIS

APA Style

Fanta Tariku Wadajo. (2023). Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia). European Business & Management, 9(3), 43-50. https://doi.org/10.11648/j.ebm.20230903.11

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ACS Style

Fanta Tariku Wadajo. Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia). Eur. Bus. Manag. 2023, 9(3), 43-50. doi: 10.11648/j.ebm.20230903.11

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AMA Style

Fanta Tariku Wadajo. Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia). Eur Bus Manag. 2023;9(3):43-50. doi: 10.11648/j.ebm.20230903.11

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@article{10.11648/j.ebm.20230903.11,
  author = {Fanta Tariku Wadajo},
  title = {Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia)},
  journal = {European Business & Management},
  volume = {9},
  number = {3},
  pages = {43-50},
  doi = {10.11648/j.ebm.20230903.11},
  url = {https://doi.org/10.11648/j.ebm.20230903.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20230903.11},
  abstract = {This study looks at how three insurance companies that offer life insurance rate their customers' satisfaction with their services. This study also assesses the connection between customer happiness and service quality, including its dimensions. Like many other financial services sectors, the life insurance industry is confronted by a market that is changing quickly, new technologies, uncertain economic conditions, fierce competition, and increasingly demanding clients For the aim of the study, primary data were gathered using questionnaires with a five-point Likert scale that were built with consideration for all aspects of service quality, including functional dimensions, image, technical quality, and price. Data were collected from samples of 308 consumers using the convenience sampling technique, and STATA version 15 was utilized to analyze the data using descriptive and multiple linear regression statistics. The results of this study show that customer satisfaction is positively and significantly impacted by characteristics of service quality such as image, responsiveness, dependability, and technological quality. On the other hand, assurance and cost have a negative and significant effect on consumer satisfaction. Additionally, customer retention and satisfaction in the chosen insurance firms are related to overall service quality. When creating a firm's strategy, attributes like image, responsiveness, reliability, assurance, and technological excellence should be given priority because they allow a company to increase customer satisfaction.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Effects of Service Quality on Customer Satisfaction in Insurance Company (A Case of Selected Insurance Company Providing Life Insurance, Ethiopia)
AU  - Fanta Tariku Wadajo
Y1  - 2023/05/29
PY  - 2023
N1  - https://doi.org/10.11648/j.ebm.20230903.11
DO  - 10.11648/j.ebm.20230903.11
T2  - European Business & Management
JF  - European Business & Management
JO  - European Business & Management
SP  - 43
EP  - 50
PB  - Science Publishing Group
SN  - 2575-5811
UR  - https://doi.org/10.11648/j.ebm.20230903.11
AB  - This study looks at how three insurance companies that offer life insurance rate their customers' satisfaction with their services. This study also assesses the connection between customer happiness and service quality, including its dimensions. Like many other financial services sectors, the life insurance industry is confronted by a market that is changing quickly, new technologies, uncertain economic conditions, fierce competition, and increasingly demanding clients For the aim of the study, primary data were gathered using questionnaires with a five-point Likert scale that were built with consideration for all aspects of service quality, including functional dimensions, image, technical quality, and price. Data were collected from samples of 308 consumers using the convenience sampling technique, and STATA version 15 was utilized to analyze the data using descriptive and multiple linear regression statistics. The results of this study show that customer satisfaction is positively and significantly impacted by characteristics of service quality such as image, responsiveness, dependability, and technological quality. On the other hand, assurance and cost have a negative and significant effect on consumer satisfaction. Additionally, customer retention and satisfaction in the chosen insurance firms are related to overall service quality. When creating a firm's strategy, attributes like image, responsiveness, reliability, assurance, and technological excellence should be given priority because they allow a company to increase customer satisfaction.
VL  - 9
IS  - 3
ER  -

Copy | Download