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QUESTIONNAIRE

Customer Survey - Ph.D Programme

Mathew Jacob Research Scholar

Associate Professor PG Dept. of Commerce &
PG Dept. of Commerce & Research Centre
Research Centre St. Alberts College
Bharata Mata College Ernakulam
Thrikakkara, Cochin -682021

Dear Sir,

Thank you for accepting my invitation to take part in this customer

survey as a part of my research programme entitled A Study of the Impact of
Reforms on the Insurance Industry. This survey is required for the successful
completion of my Ph.D degree and I assure you that the results will be used
for research purpose only. This exercise may be helpful to you in selecting
insurance policies in future.

Sincerely,

Sd/-
Mathew Jacob
(Research Scholar)
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QUESTIONNAIRE FOR POLICYHOLDERS

1. Name :
2. Age. :
3. Sex : Male Female
4. Place of Residence: Rural Urban
5. Educational Qualification:
6. Occupation: Employment Business Professional
Others
7. Income:
8. Name your Insurance Service Provider:
Insurance companies in the public sector
Insurance companies in the private sector
Bancassurance insurance by commercial banks
9. Reason for continued patronage given to this particular insurance
company
Courteous Service Efficiency Agents Promotion
Benefits Conveyed Any other
10. Please indicate your preference towards the following financial
products by marking 1,2 and 3 in the respective boxes?
i) Insurance products
ii) Depository products
iii) Mutual fund products
Yes No
11. Please indicate your liking towards the following forms of returns in
the order of preferences by marking 1, 2, 3 in the respective boxes?
i) I like regular income in the form of interest and dividend
ii) I like growth of invested money in lumpsum amount
on maturity
iii) I like regular income and growth of investment
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12. Give your opinion about the guidance and information for customers
provided by the insurance company. Assign 3 for very good, 2 for
good and 1 for average

Particulars Public Private Bancassurance

a) Display of boards at counters

indicating the type of transaction

b) Personal guidance of staff, if

needed

c) Manager available easily and

accessible to address grievances

d) Availability of leaflets on
schemes to customers

e) Communication to customers
relating to change in policies,
interest rates /service charges etc.

13. Do you get prompt efficient service across the counter?

Yes No
14. Do you get appropriate information about your policies?
Yes No
15. Are the information provided accurate?
Yes No
16. Is there any transparency in company customer relationship?
Yes No
17. Do you think that the company provide same treatment to all the
customers for similar service?
Yes No
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18. Do you think that the policies introduced by the private sector are
better than similar type in the public sector?
Yes No
19. Do you think that the new generation private insurance companies
perform better than the public sector?
Yes No
20. If want another policy, which insurance company do you prefer?
Private sector Public sector Bancassurance
21. How far IRDA is successful in ensuring equity and social justice in
insurance sector?
Very successful Successful Not successful
22. How far IRDA is successful in creating insurance awareness and in
promoting insurance growth?
Very successful Successful Not successful
23. Express the degree of influence of the following factors for
determining the nature and type of insurance products demanded by
customers. Assign 5 for high degrees of influence and 1 for low
degrees of influence.
Govt. policy Changing profits Income distributors
Level of awareness Preparation for risks
24. Rate your level of significance attach to the following factors in the
purchase of insurance policies on a 5 point scale. Assign 5 for high
significance and 1 for low significance.
(a) Returns (b) Risk coverage
(c) Liquidity (d) Flexibility
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25. Kindly express your agreement/ disagreement on the following

statements

Service Quality Attributes SA A UD DA SDA

a) The new generation insurance companies will
definitely fail in the long run

b) The performance of private insurance

companies is excellent in comparison to
public sector companies

c) Privatisation, globalisation and liberalisation

in insurance definitely brought benefit to
customers

d) Private players have revolutionalised the

insurance industry through professional
approach

e) In the pre liberalisation era, public insurance

companies under strict control of regulation
miserably failed to render quality service to
customers
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26. Among the following factors, to which factors, do you give more
importance in taking decision to purchase insurance products?
Assign 10 for the highest and 1 for the least

Factors Value

Productivity, diversification and innovation

Mode of premium payment, financial incentives and

concessions

Effectiveness in promotion programmes and

creativity in advertisement

Marketing network and service centres proximity

and accessibility

Transparency, simplicity and quickness of

procedures in dealings

Commitment, efficiency and responsiveness of

employees

Friendliness, personal interest and individual

attention in providing customers service
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27. Assign values to the following factors on the basis of the
performance of LIC, Private Insurance Players and Bancassurance.
10 for best performance and 1 for worst performance

Factors LIC Private Bancassuracne

Productivity, diversification and

innovation

Mode of premium payment, financial

incentives and concessions

Effectiveness in promotion
programmes and creativity in
advertisement

Marketing network and service

centres proximity and accessibility

Transparency, simplicity and quickness

of procedures in dealings

Commitment, efficiency and

responsiveness of employees

Friendliness, personal interest and

individual attention in providing
customer service
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28. Assess the performance of LIC, Private players, Bancassurance in
respect of the following attributes of service quality. Assign 10 for
high performance and 1 for low performance

Service Quality Attributes LIC Private Bancassurance

Ability of the insurer to perform the

promised service dependably and
accurately

Ability of the insurer to deal effectively

with customers complaints and its
redressal

The caring and individualised attention in

providing service to customers

Ability of the insurer and its employees to

improve trust and confidence

Physical facilities, equipment, personal

and communication facilities

29. Please answer the following questions by selecting the most

appropriate options given against various statements given below

a) I purchased insurance policies on account of recommendation

by friends, family members and other customers
1. Strongly Agree 2) Agree 3) Undecided 4) Disagree
5) Strongly Disagree
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b) I purchased life insurance policies to ensure a continual stream of
income to my family in the event of death
1. Strongly Agree 2) Agree 3) Undecided 4) Disagree
5) Strongly Disagree
c) The decision to purchase life insurance policies is very
important
1. Strongly Agree 2) Agree 3) Undecided 4) Disagree
5) Strongly Disagree
d) The decision to purchase insurance policies is influenced by
my personality characteristics
1. Strongly Agree 2) Agree 3) Undecided 4) Disagree
5) Strongly Disagree
e) The purchase of life insurance policies will improve my social
status
1. Strongly Agree 2) Agree 3) Undecided 4) Disagree
5) Strongly Disagree
f) My decision to purchase life insurance policies is influenced by
my life style and the distinctive ways in which I live
1. Strongly Agree 2) Agree 3) Undecided 4) Disagree
5) Strongly Disagree
g) Culture and outlook strongly influence people in the purchase
of insurance products
1. Strongly Agree 2) Agree 3) Undecided 4) Disagree
5) Strongly Disagree
30. Are you aware of any insurance schemes offered by insurance
companies ?
a) Do not know anything
b) Some awareness
c) Fully aware of insurance
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31. Do any officer or agent of insurance company approached you for
introducing insurance schemes?
a) Never b) Sometimes c) Frequently
32. Have you heard of the following insurance companies?
a) LIC b) Postal Life Insurance c) ICICI Prudential
d) HDFC Std. Life e) Tata AIG f) Bajaj Allianz g) Met Life.
33. Do you think that risk coverage is equally important as return from your
investment?
a) Yes b) No
34. Do you think that initiative and determination of government and
other agencies like IRDA is not satisfactory in the popularisation of
insurance in rural areas?
a) Yes b) No c) I do not know
35. Low income level of rural people is a major reason for low insurance
penetration in rural areas
a) Strongly Agree b) Agree c) Undecided d) Disagree
e) Strongly Disagree
36. Lack of interest of insurance agents is a reason for low marketing of
insurance products in rural areas
a) Strongly Agree b) Agree c) Undecided d) Disagree
e) Strongly Disagree
37. Deficiency in the use of appropriate promotion programmes is an
important factor for non popularisation of insurance in rural areas
a) Strongly Agree b) Agree c) Undecided d) Disagree
e) Strongly Disagree
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38. Among the following factors, which factors create more obstacles in
the penetration of rural insurers? Assign values between 1 - 5 to
express the degree of adverse effects of different factors

Sl.
Factors Values
No.

1 Low income level of rural people

2 Lack of awareness and interest of rural people

3 Inappropriate promotion programmes

4 Lack of interest and involvement of agents

5 Inadequate insurance products to meet the specific

requirements of rural people

6 Inefficient delivery systems

7 Illiteracy of rural population

8 Lack of distribution network

9 Lack of understanding of rural customers

10 Inadequate data on rural customers

11 Poor infrastructure

12 Inadequate reach of mass media

39 Can you specify the reasons for not taking insurance polices offered
by private sector insurance company?
1
2
3
4
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40. Have you heard about bancassurance?
a) Yes b) No
41. Do you think that bancassurance has:
a) High risk b) Low risk c) No risk
42. Bancassurance is more beneficial and satisfactory in comparison
with LIC
a) Strongly Agree b) Agree c) Undecided d) Disagree
e) Strongly Disagree
43. Do you consider bancassurance a substitute for traditional
insurance?
a) Yes b) No c) Uncertain

Note:
SA - Strongly Agree
A - Agree
UD - Undecided
DA - Disagree
SDA - Strongly Disagree