Customer Experience in General Insurance Industry
A Theoretical Approach
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This book provides a comprehensive exploration of customer experience and its critical role in shaping customer satisfaction, retention, and loyalty, with a particular emphasis on the Indian insurance industry. It begins by discussing the paradigm shift in business strategies from focusing solely on brand strength to creating exceptional customer experiences as a sustainable competitive advantage. The document emphasizes how this transformation is vital across sectors, including service-oriented industries like insurance, where customer satisfaction and retention are paramount.The text delves ...
This book provides a comprehensive exploration of customer experience and its critical role in shaping customer satisfaction, retention, and loyalty, with a particular emphasis on the Indian insurance industry. It begins by discussing the paradigm shift in business strategies from focusing solely on brand strength to creating exceptional customer experiences as a sustainable competitive advantage. The document emphasizes how this transformation is vital across sectors, including service-oriented industries like insurance, where customer satisfaction and retention are paramount.The text delves into the evolution of the insurance industry in India, tracing its roots from ancient practices to the pre- and post-independence eras. It highlights significant milestones, such as the nationalization of the insurance sector and the establishment of the Insurance Regulatory and Development Authority (IRDA), which opened the market to private players and ushered in a wave of technological advancements.
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