Impact of Service Quality on Customer Satisfaction in Insurance Companies: A Study Conducted on Wolaita Zone

Abstract

Insurance industry should become one part of solution of sustainable economic growth in the future, however, in order to retain and keep more investors and business owners, Insurance companies must have a greater service quality to satisfy and more wide range of different customer satisfactions regarded to insurance service. The objective of this study was investigating the impact of service quality on customer satisfaction in the insurance companies of Wolaita Zone. In order to do this, a causal cross sectional research study was conducted. A sample of 352 customers was selected using cluster sampling technique. For the purpose of the study primary data were collected from customers using likert scale based questionnaire, then the data were analyzed using descriptive statistics and inferential statistics.SPSS software 20.00 was used to analyze the primary data.Findings from the analysis revealed that out of the five dimensions of the SERVQUAL dimension three i.e., tangibles, reliability, Assurance and empathy had high significant impact on customer satisfaction in insurance companies in Wolaita zone.

Keywords: Service quality, Tangibility, Reliability, Responsiveness, Assurance, Empathy, and customer satisfaction.

DOI: 10.7176/JMCR/63-01

Publication date: December 31^st 2019