Redress Of Insurance Consumers’ Grievances A Study Of Company Executives’ Perception

Abstract

In modern marketing, the consumer satisfaction determines the company’s long-run success. In the case of marketing of services, like insurance, consumer satisfaction has numerous dimensions, and is, therefore, a complex phenomenon. Based on a study conducted to examine the corporate and public systems for redressing insurance consumers’ grievances, this paper seeks to report the findings pertaining to the company executives’ perception of the two systems. A representative sample of executives from all levels of the consumer grievance redress (CCR) machinery of the selected insurance corporate put forth their opinions on the nature of a CCR system, reasons behind its establishment, and the resulting benefits of maintaining the same. Furthermore, they have suggested more effective proposals for improving their own system as also the need for an external system, especially the Insurance Ombudsman.