Post purchase experience of consumers in life insurance policies: An empirical study

Vishal Kumarl, Maharaja Agrasen University, Himachal Pradesh, India
Neha Singh, Maharaja Agrasen University, Himachal Pradesh, India
Abstract
Consumer post-purchase feeling is important for a seller as it may lead to repeat purchase in case of satisfaction or could create negative word of mouth publicity for their brand. A marketer should carefully study the outcome of purchase to improve the performance and to delight the consumer. Post-purchase behaviour is a reflection of consumers’ satisfaction, their feedback and success of marketing strategies. This paper identifies the important factors for evaluating post purchase experience of life insurance policy holders. It also compared the public and private life insurance policy holder’s post purchase experience. The study is based on sample of 396 respondents who are policy holders of public and private life insurance companies. The quantitative data is analyzed with the help of SPSS by using Factor analysis technique and findings of the paper revealed three major factors for post purchase experience. It also found difference between post purchase experience of policy holder’s experience of public and private life insurance companies.

Keywords: Post purchase experience, consumer behavior, life insurance

Suggested citation: Kumar, V. & Singh, N. (2019). Post purchase experience of consumers in life insurance policies: An empirical study. Skyline Business Journal, 15(2), 81-91. https://doi.org/10.37383/SBJ14021907

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Notes on contributors
Prof. Vishal Kumar is a distinguished scholar and an academician of National and International repute. He is M.Com, UGC NET, MBA (Finance) and Ph.D. He is working as Dean Research and Director, School of Management, Maharaja Agrasen University, Baddi (Himachal Pradesh), India. He has 22 years of teaching experience as faculty in Commerce and Management with specialization of Accounting and Finance. He is a prolific writer and has authored many books covering an array of topics pertaining to commerce and management. He has published 44 Research Papers in renowned Journals and also presented 43 Research Papers in National and International conferences. He has participated in national and international conferences. Dr. Kumar has developed the e-Content for many universities and has acted as Coordinator of the course ‘Entrepreneurship Development and Project Management’ in e-PG Pathshala project of UGC and MHRD, Government of India. He has been delivering MOOCs as a Course Co-Coordinator of the paper Organisation Behaviour.

Dr. Neha Singh is currently working as Assistant Professor in Maharaja Agrasen University, Baddi. She has 10 yearrs of working experience in academics besides having an  industry experience of 3 years in financial sector like banks and insurance. She holds her Doctoral degree in marketing from IKGPTU and MBA in Marketing from ICFAI University. She is also involved in Corporate Trainer in the field of Life Insurance Sales Training and Soft Skills Development. As an academician her area of expertise is consumer behavior, marketing research and service marketing. She has authored and published 14 research papers in national and international Journals. She has also presented 12 research papers in National and International seminars and conferences.
Suggested citation

Kumar, V. & Singh, N. (2019). Post purchase experience of consumers in life insurance policies: An empirical study. Skyline Business Journal, 15(2), 81-91. https://doi.org/10.37383/SBJ14021907