The Nexus of Experience and Retention
Empirical Perspectives from Indian General Insurance Industry
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This book investigates the critical role of customer experience (CX) in shaping customer satisfaction and retention in the Indian general insurance industry. It highlights how enhanced CX is a strategic differentiator in a competitive, technology-driven landscape. Starting with the historical evolution of the insurance sector in India, the study covers pre- and post-independence developments, emphasizing the industry's transformation through regulatory reforms, privatization, and technological advancements.The research identifies key factors influencing CX, including convenience, servicescape,...
This book investigates the critical role of customer experience (CX) in shaping customer satisfaction and retention in the Indian general insurance industry. It highlights how enhanced CX is a strategic differentiator in a competitive, technology-driven landscape. Starting with the historical evolution of the insurance sector in India, the study covers pre- and post-independence developments, emphasizing the industry's transformation through regulatory reforms, privatization, and technological advancements.The research identifies key factors influencing CX, including convenience, servicescape, employee behavior, speed, and online functionality. Using primary data from retail customers in Gujarat, the study employs statistical techniques like Structural Equation Modeling (SEM) and Artificial Neural Networks (ANN) to analyze relationships between these factors and outcomes like satisfaction and retention.
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