CUSTOMER AWARENESS AND KNOWLEDGE ABOUT GENERAL INSURANCE SERVICES: AN EMPIRICAL SURVEY IN MODERN ERA

Abstract

Globalization and forces of competition has challenged the way in which business is operated. With the re-opening of insurance sector for private players, the increased number of sellers had to improve customer awareness and knowledge about their services. In the contemporary business environment, the creation of awareness and knowledge about insurance products by general insurance companies is imperative in order to retain in the market. The purpose of this paper is to highlight the importance of awareness and knowledge among customers about general insurance services. The paper provides an overview on sources which are used by insurance players for creating awareness among consumers about insurance policies. The study explores that how customer awareness in insurance services affects the long term profitability of their customers.