6. IMPLICATIONS
It should be noted that customer loyalty cannot be created in a vacuum as there are seven other
factors which need to be taken care of in order to attain customers’ loyalty. Service quality is
of primary importance in respect of customer loyalty and life insurers, who desire unwavering
loyalty of their customers, should carefully assess and deliver quality services to their customers
by offering better products with greater flexibility and reasonable charges, hassle free claim
procedures and a proactive and systematic grievance handling mechanism. Such measures will
help the companies in instigating committed behaviours among their customers which are another
requisite of customer loyalty. To develop trustworthiness of the company, greater transparency
and better customer service should be provided to the customers repeatedly. Since life
insurance is a latent product with relatively small number of service encounters and almost
negligible contact between customers and the life insurer as life insurance business is carried
out primarily through agency relationships, a large onus of ensuring loyalty of customer lies on
agents. Thus, life insurance companies need to conduct systematic training programs for their
agents whereby agents are trained and designed as company’s own live loyalty program. Another
important aspect of life insurance business is that customers get to evaluate company’s service
after a considerably long period and thus, it gets difficult to forge customer loyalty since service
quality evaluations and resultant commitment take time to materialize. To compensate this, life
insurance companies should design active and regular integrated marketing communications addressing
general queries and other apprehensions of customers and informing them about new
products as well as upgradation in an existing one.
6. IMPLICATIONS
It should be noted that customer loyalty cannot be created in a vacuum as there are seven other
factors which need to be taken care of in order to attain customers’ loyalty. Service quality is
of primary importance in respect of customer loyalty and life insurers, who desire unwavering
loyalty of their customers, should carefully assess and deliver quality services to their customers
by offering better products with greater flexibility and reasonable charges, hassle free claim
procedures and a proactive and systematic grievance handling mechanism. Such measures will
help the companies in instigating committed behaviours among their customers which are another
requisite of customer loyalty. To develop trustworthiness of the company, greater transparency
and better customer service should be provided to the customers repeatedly. Since life
insurance is a latent product with relatively small number of service encounters and almost
negligible contact between customers and the life insurer as life insurance business is carried
out primarily through agency relationships, a large onus of ensuring loyalty of customer lies on
agents. Thus, life insurance companies need to conduct systematic training programs for their
agents whereby agents are trained and designed as company’s own live loyalty program. Another
important aspect of life insurance business is that customers get to evaluate company’s service
after a considerably long period and thus, it gets difficult to forge customer loyalty since service
quality evaluations and resultant commitment take time to materialize. To compensate this, life
insurance companies should design active and regular integrated marketing communications addressing
general queries and other apprehensions of customers and informing them about new
products as well as upgradation in an existing one.
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6. IMPLICATIONS
It should be noted that customer loyalty cannot be created in a vacuum as there are seven other
factors which need to be taken care of in order to attain customers’ loyalty. Service quality is
of primary importance in respect of customer loyalty and life insurers, who desire unwavering
loyalty of their customers, should carefully assess and deliver quality services to their customers
by offering better products with greater flexibility and reasonable charges, hassle free claim
procedures and a proactive and systematic grievance handling mechanism. Such measures will
help the companies in instigating committed behaviours among their customers which are another
requisite of customer loyalty. To develop trustworthiness of the company, greater transparency
and better customer service should be provided to the customers repeatedly. Since life
insurance is a latent product with relatively small number of service encounters and almost
negligible contact between customers and the life insurer as life insurance business is carried
out primarily through agency relationships, a large onus of ensuring loyalty of customer lies on
agents. Thus, life insurance companies need to conduct systematic training programs for their
agents whereby agents are trained and designed as company’s own live loyalty program. Another
important aspect of life insurance business is that customers get to evaluate company’s service
after a considerably long period and thus, it gets difficult to forge customer loyalty since service
quality evaluations and resultant commitment take time to materialize. To compensate this, life
insurance companies should design active and regular integrated marketing communications addressing
general queries and other apprehensions of customers and informing them about new
products as well as upgradation in an existing one.
การแปล กรุณารอสักครู่..