Evaluating service quality and customer satisfaction in Bao Viet insurance corporation
Abstract
Nowadays, insurance companies in Vietnam compete each other to be a strong and good
reputation. The challenge for insurance sector in Vietnam remains the same that is to
bring innovative solutions to client while making them realize the value of those services
provided. Therefore, customer service plays an integral part of any insurance
organizations. It is necessary to identify the key success factors in insurance industry, in
terms of customer satisfaction so as to survive in intense competition and increase the
market share. This study is conducted to identify how service quality and price fairness
impact on customer satisfaction towards Bao Viet Insurance Corporation. As a result, the
empirical information found in this research provides a general view about assessment of
customers about service quality and customer perceptions of price in order to make
appropriate adjustments and effective improvement for running a long-term route. A
review of the literature indicates a general consensus that Tangibles, Reliability,
Responsiveness, Assurance, Empathy are major determinants in SERVQUAL model and
Price fairness factor which used for measuring service quality in Bao Viet company
context.
Based on the results of the path analysis, this study argues that in order to achieve high
customer satisfaction, it is necessary to provide best service quality with the combination
of all five components obtained in SERVQUAL model and offer affordable and
appropriate premiums for customers. Due to the lack of research in this area, this study
not only contributes substantially to extant academic knowledge, but also makes a
significant contribution to insurance practice.
In conclusion, from the knowledge in process of conducting study, it points out
limitations of this study and provides valuable recommendations to improving
procedures, staffs, premiums policy, customer approaches and after-sale service in order
to receive the highest perceptions about satisfaction from customers.