Indian Insurance Industry - The task Ahead

Insurance contributes a lot to the general economic growth of the society. Insurance industries develop financial institutions and reduce uncertainties. Life Insurance plays an important part of an individual¿s investment portfolio, not necessarily to accumulate wealth, but to feel financially secure. Today, there is no shortage of investment options for a person to choose from. Modern day investments include gold, property, fixed income instruments, mutual funds and of course, life insurance. Given the plethora of choices, it becomes imperative to make the right choice when investing the hard-earned money. Life insurance is a unique investment that helps us to meet our dual needs - saving for life's important goals, and protecting our assets. The service quality is vital in the aggressive competitive marketing. For success and survival in today¿s competitive environment, delivering quality service is of paramount importance. Customer service is an integral part of Life Insurance Corporation. It is necessary to identify the key success factors in Life Insurance industry, in terms of customer satisfaction so as to survive in intense competition and increase the market share.