It is clearly visible that service quality is the most prominent among all factors that play decisive
role in customer loyalty formation. Commitment and Trust also emerged as significant factors
that affect customer’s loyalty. The predictive model for customer loyalty assessment is as follows:
CL = .174 + .356 SQ + .010 CS + .166 T + .220 C + .110 CI + .075 SC + .037 C
This also establishes the relationships of customer loyalty with its antecedents and thus, rejects H1.
Assessment of customer loyalty in public and private sector life insurance revealed the dominance
of public sector life insurer i.e., LIC in Indian life insurance industry as it stood out with
better scores on almost all the items. Following are the depictions of customer loyalty in Indian
life insurance industry