reshma a.r minor project report

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Project 2011

Department of management science MESCE Kuttipuram

A STUDY ON MEASURING CUSTOMER SATISFACTION WITH

SPECIAL REFERENCE TO METLIFE INDIA INSURANCE COMPANY

LTD EDAPPAL

MINOR PROJECT REPORT

Submitted by

RESHMA.A.R

(Reg.No:MKAKMBAO35)

Under the guidance of

MR.P.KARTHIKEYAN

Asst: Professor

Department of Management Science

In partial fulfillment of the requirements for the award of the degree of

MASTER OF BUSINESS ADMINISTRATION

UNIVERSITY OF CALICUT

MES College of Engineering

DEPARTMENT OF MANAGEMENT SCIENCE

MES COLLEGE OF ENGINEERING(Affiliated to University of Calicut)

KUTTIPURAM, KERALA

2011



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DEPARTMENT OF MANAGEMENT SCIENCE

MES COLLEGE OF ENGINEERING

KUTTIPPURAM, KERALA

PIN: 679573

(AFFILIATED TO UNIVERSITY OF CALICUT)

CERTIFICATE

This is to certify that the study titled “ A STUDY ON MEASURING CUSTOMER

SATISFACTION WITH SPECIAL REFERANCE TO METLIFE INDIA INSURANCE

COMPANY LTD EDAPPAL”submitted by RESHMA.A.R 3semester MBA, in

partial fulfillment of the requirements for the award of the Degree of MASTER

OF BUSINESS ADMINISTRATION by Calicut University is a bonafide record of the work done by him under my supervision and guidance.

………………………. ………………………………

Prof. SAJI KURIAKOSE Mr.P.KARTHIKEYAN

HEAD OF THE DEPARTMENT FACULTY GUIDE

MES College of Engineering MES College of Engineering

Kuttippuram Kuttippuram



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DECLARATION

I ,RESHMA.A.R hereby declare that this project report entitled “ A STUDY ON

MEASURING CUSTOMER SATISFACTION WITH SPECIAL REFERANCE TO

METLIFE INDIA INSURANCE COMPANY LTD EDAPPAL ” has been prepared by

me during year 2011under the guidance of MR.P.KARTHIKEYAN fulfillment of the

requirements for the award of MBA University Of Calicut, during the academic

year 2011.

I also here by declare that this project report has not been submitted at any time

to any other University or Institute for award of any degree or diploma.

Place: kuttippuram

Date: RESHMA.A.R



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ACKNOWLEDGEMENT

First, I would like to thank the Almighty, for showering His blessing on me while doing the

project.

I would like to take this opportunity to extend my sincere gratitude to all those people who have

helped and supported in the completion of my project.

I am extremely thankful to Mr. ARSHAD , for giving me this opportunity to carry out my

project and also my regards to all the staff members of MetLife insurance pvt.Ltd , Edappal for

their valuable support and contributions for completing this work.

I express my deep sense of gratitude to my internal guide Mr. P KARTHIKEYAN for giving

me full co-operation, wholehearted support, invaluable inputs and encouragement that enable me

to complete this project successfully in the stipulated time.

I would also like to extend my gratitude towards Mr. Saji Kuriakose Head of the Department

of Management Science who gave me full support for the completion of the project.

Finally yet importantly, I would like to extend my sincere thanks to all my friends and family

members and to all the people who whole-heartedly and sincerely extended their co-operation in

conducting the survey.

RESHMA A.R



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CONTENTS

CHAPTER NO HEADING PAGE NO

CHAPTER 1 INTRODUCTION 1

1.1 INTRODUCTION TO THE STUDY 2

1.2 STATEMENT OF THE PROBLEM 2

1.3 NEED OF THE STUDY 2

1.4 OBJECTIVE OF THE STUDY 2

1.5 IMPORTANCE OF THE STUDY 3

1.6 SCOPE OF THE STUDY 3

CHAPTER 2 INDUSTRIAL PROFILE 4-9

CHAPTER 3 COMPANY PROFILE 10-20

CHAPTER 4 LITERATURE REVIEW 21-25

CHAPTER 5 RESEARCH METHODOLOGY 26

5.1 RESEARCH METHODOLOGY 27

5.2 RESEARCH DESIGN 27

5.3 RESEARCH TYPE 27

5.4 SAMPLE SELECTION AND SIZE 27

5.5 SOURSES OF DATA 28

5.6 PRIMARY DATA 28

5.7 SECONDARY DATA 28

5.8 TOOLS AND ANALYSIS 28

5.9 LIMITATIONS 28

CHAPTER 6 ANALISIS AND INTERPRETATION 29-66

CHAPTER 7 CONCLUSION 67



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7.1 FINDINGS 68-69

7.2 SUGGESTIONS 70

7.3 CONCLUSION 71

BIBILOGRAPHY

ANNEXURE

QUESTIONNAIRE



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LIST OF TABLES

Tableno

Name Pageno

1 Age of respondents 30

2 Sex of respondents 313 Respondents marital status 324 Occupation of customers 33-34

5 Monthly income of customers 356 Educational qualification of customers 367 I am satisfied with the service of the insurance company 37-38

8 Physical appearance and surrounding of the branch office isattractive

39

9 The insurance company uses latest technology in providing

services

40

10 Information is easily available through product & servicebrochures, leaflets,Letters

41

11 Company is having a memorable advertisement 42

12 Staff provides error free services 4313 Staff is committed to fulfill promises in timely manner 4414 Company is having competitive pricing compared to others 45

15 Insurance company performs the service right in first instance 46

16 Customer can fully depend and rely on employee 4717 Company provides accurate records such as payment record or

any toCustomer

48

18 Company provides guarantee/warranty of the serviceperformed

49

19 Employees of company provide prompt service to theircustomer

50

20 Employees give their customers shorter waiting time or fastserviceTurnaround

51

21 Employees in company are willing to help their customers 52

22 Employees are trustworthy and honest 5323 Employees in company are very experienced in solving or

diagnosing the Customers problem54

24 In case of complications managers are helpful by making 55



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prompt decisions

25 Privacy of customers information is maintained 5626 You are assured about the agent/advisor who deliver the service 5727 Company is widely known 58

28 Customer gets individual attention 5929 Do you think that managers of company understands theircustomer specificNeeds

60

30 Company keep customers informed about service that havebeen performedAnd price charged

61

31 Insurer has their customer best interest in heart 62

32 Company have convenient business hours 6333 I trust staff of insurance company 64

34 Agents/advisors have concern and understanding of customersproblem

65

35 Does company serve you during extended hour 66



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LIST OF CHARTS

Graphno

Name Pageno

1 Chart showing the age of respondents 30

2 Chart showing the sex of respondents 313 Chart showing the respondents marital status 324 Chart showing the occupation of customers 33-34

5 Chart showing the monthly income of customers 356 Chart showing the educational qualification of customers 367 Chart showing the i am satisfied with the service of the

insurance company37-38

8 Chart showing the physical appearance and surrounding of thebranch office is attractive

39

9 Chart showing the insurance company uses latest technology inproviding services

40

10 Chart showing the information is easily available throughproduct & service brochures, leaflets,Letters

41

11 Chart showing the company is having a memorableadvertisement

42

12 Chart showing the staff provides error free services 4313 Chart showing the staff is committed to fulfill promises in

timely manner

44

14 Chart showing the company is having competitive pricingcompared to others

45

15 Chart showing the insurance company performs the serviceright in first instance

46

16 Chart showing the customer can fully depend and rely onemployee

47

17 Chart showing the company provides accurate records such aspayment record or any toCustomer

48

18 Chart showing the company provides guarantee/warranty of theservice performed

49

19 Chart showing the employees of company provide promptservice to their customer

50

20 Chart showing the employees give their customers shorterwaiting time or fast service Turnaround

51



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21 Chart showing the employees in company are willing to helptheir customers

52

22 Chart showing the employees are trustworthy and honest 5323 Chart showing the employees in company are very experienced

in solving or diagnosing theCustomers problem

54

24 Chart showing the in case of complications managers arehelpful by making prompt decisions

55

25 Chart showing the privacy of customers information ismaintained

56

26 Chart showing the you are assured about the agent/advisor whodeliver the service

57

27 Chart showing the company is widely known 5828 Chart showing the customer gets individual attention 59

29 Chart showing the do you think that managers of companyunderstands their customer specific needs

60

30 Chart showing the company keep customers informed aboutservice that have been performedAnd price charged

61

31 Chart showing the insurer has their customer best interest inheart

62

32 Chart showing the company have convenient business hours 63

33 Chart showing the i trust staff of insurance company 64

34 Chart showing the agents/advisors have concern andunderstanding of customers problem

65

35 Chart showing the does company serve you during extendedhour

66



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CHAPTER 1

INTRODUCTION



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1.1 INTRODUCTION TO THE STUDY

As the opportunity for insurance business is increasing in the Indian market, more and more

insurance companies are entering into the market and there by stiff competition arises. Today a

lot of insurance companies are there in India providing different health insurance products tocustomers. Selection of insurance company and insurance products are influenced by various

factors such as brand name, policy, insurance advisor behavior etc.

The project is based on an insurance company. Under fast moving

insurance services, insurance industry is a challenging and changing one. Customer satisfaction

is the main aim of the study.

1.2 STATEMENT OF THE PROBLEM

The Insurance sector in India is having a great boom. The main aim of the project work is

customer Satisfaction of MetLife India insurance Co: Ltd. It includes various plans of Met

Life Insurance and in detail consumer (Satisfaction) responses analysis, by surveying number of

customer. The project consist survey report of various customers responses about the satisfaction

towards MetLife India Insurance Co ltd.

1.3 NEED OF THE STUDY

Life Insurance is considered to be an important part of an individual’s investment portfolio, not

necessarily to accumulate wealth, but to feel financially secure. Other than this when you opt for

a life insurance policy you enjoy other benefits also, like tax-deduction options, and in some

cases long term capital gains. What is important when you opt for a policy is the term and plan

related to that particular policy. Always remember Life Insurance is primarily made keeping

your family and those who are dependent on you in mind.

1.4 OBJECTIVE OF THE STUDY

Primary objective

Analyzing the customer satisfaction of MetLife India insurance co ltd.



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Secondary objective

To study the factors affecting customer in selecting a insurance company.

To study the factors affecting consumer satisfaction in MetLife India insurance co.ltd

Edappal.

1.5 IMPORTANCE OF THE STUDY

Insurance is the most reliable tool an individual can use to plan for his future. Insurance is like a

helping hand to an individual who is living in the world of risk and uncertainty. Life insurance is

nothing but a contract where the insured party or the purchaser of insurance pays a premium that

protects him against specific losses. In the past, there was only one company in the field of

business now has situation changed. Nowadays many private companies are entering into in this

sector and it has becomes one of the booming industry in India.

This prompted me to do a project in MetLife insurance company, which

is the leading company in the private sector. Therefore, the project helps the company to identify

the satisfactory level of their customers.

1.6 SCOPE OF THE STUDY

Life insurance is nothing but a contract where the insured party or the purchaser of insurance pay

a premium the protects him against specific losses. For the development of a better marketing

strategy be must collecting information relating to the consumer satisfaction. In this study

Researcher try to understand the level of satisfaction in MetLife India insurance limited.

Required data collected from people with different background. The study will give valuable

suggestions and recommendations to the company to improve the market position and to

understand the respondents.



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CHAPTER 2

INDUSTRY PROFILE



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INDUSTRY PROFILE

INSURANCE

A contract in which one party agrees to pay for another parties financial loss resulting from a

specified event (for example collision, theft, damage). Lease agreements generally require that

you maintain vehicle collision and comprehensive insurance as well as liability insurance for

bodily injury and property damage.

A system under which individuals, businesses and other organizations or entities,

in exchange for payment of some of money, are guaranteed information for losses resulting from

certain perils under specified conditions. It is protection by written contract against the financial

hazards of the happening of specified.

In insurance, the insured makes payment called premiums to an insurer, and in

return is able to claim a payment from the insurer if the insured suffers a defined type of loss.

This relationship is usually drawn up in a formal legal contract, also known as policy. The

contract will set out in detail the exact circumstances under which a benefit payment will be

made and the amount of the premiums.

After independence in 1947, a number of private insurance companies were

providing life and general insurance in Indian 1956, life insurance was nationalized and the life

insurance corporation of India (LIC) become the only authorised life insurer. Later in 1970 about200 private non life insurance companies were formed under general Insurance Corporation of

India. These companies started working as a commercial insurance company with a limited

social objective. Though quite a few schemes were devised oriented towards rural poor but they

didn’t do much help real poor because they were designed without proper market survey so they

were not fulfilling poor people’s need.

Procedures were too complicated for illiterate poor. Insurance companies didn’t

know how to reach out to poor. Thus government insurance companies failed to give satisfactory

services to the poor people in the last three decades. Finally in the year 2000 government

deregulated the insurance sector and permitted private investors and companies to enter in these

fields.

Insurance industry has always been a growth oriented industry globally. On the

Indian scene too, the insurance industry has recorded noticeable growth. The Indian Regulatory



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and Development Authority (IRDA) invited the application for registration as insures in august

2000, with the liberalisation and opening up of sectors for private players the industry has

presented promising prospects for the coming future.

INSURANCE SECTOR

The Insurance sector in India governed by Insurance Act, 1938, the Life Insurance Corporation

Act, 1956 and General Insurance Business (Nationalisation) Act, 1972, Insurance Regulatory and

Development Authority (IRDA) Act, 1999 and other related Acts. With such a large population

and the untapped market area of this population Insurance happens to be a very big opportunity

in India. Today it stands as a business growing at the rate of 15-20 per cent annually. Together

with banking services, it adds about 7 per cent to the country’s GDP .In spite of all this growth

the statistics of the penetration of the insurance in the country is very poor. Nearly 80% of Indian

populations are without Life insurance cover and the Health insurance. This is an indicator that

growth potential for the insurance sector is immense in India. It was due to this immense growth

that the regulations were introduced in the insurance sector and in continuation “Malhotra

Committee” was constituted by the government in 1993 to examine the various aspects of the

industry. The key element of the reform process was Participation of overseas insurance

companies with 26% capital. Creating a more efficient and competitive financial system suitable

for the requirements of the economy was the main idea behind this reform.

Since then the insurance industry has gone through many sea changes .The

competition LIC started facing from these companies were threatening to the existence of LIC

.since the liberalization of the industry the insurance industry has never looked back and today

stand as the one of the most competitive and exploring industry in India. The entry of the private

players and the increased use of the new distribution are in the limelight today. The use of new

distribution techniques and the IT tools has increased the scope of the industry in the longer run.

HISTORY OF INSURANCE SECTOR

The business of life insurance in India in its existing form started in India in the year 1818 with

the establishment of the Oriental Life Insurance Company in Calcutta.



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INDIAN INSURANCE MARKET – HISTORY

Insurance has a long history in India. Life Insurance in its current form was introduced in 1818

when Oriental Life Insurance Company began its operations in India. General Insurance was

however a comparatively late entrant in 1850 when Triton Insurance company set up its base inKolkata. History of Insurance in India can be broadly bifurcated into three eras: a) Pre

Nationalization b) Nationalization and c) Post Nationalization. Life Insurance was the first to be

nationalized in 1956. Life Insurance Corporation of India was formed by consolidating the

operations of various insurance companies. General Insurance followed suit and was nationalized

in 1973. General Insurance Corporation of India was set up as the controlling body with New

India, United India, National and Oriental as its subsidiaries. The process of opening up the

insurance sector was initiated against the background of Economic Reform process which

commenced from 1991. For this purpose Malhotra Committee was formed during this year who

submitted their report in 1994 and Insurance Regulatory Development Act (IRDA) was passed in

1999. Resultantly Indian Insurance was opened for private companies and Private Insurance

Company effectively started operations from 2001.

INSURANCE MARKET- PRESENT:

The insurance sector was opened up for private participation four years ago. For years now, the

private players are active in the liberalized environment. The insurance market have witnessed

dynamic changes which includes presence of a fairly large number of insurers both life and non-

life segment. Most of the private insurance companies have formed joint venture partnering well

recognized foreign players across the globe.

There are now 29 insurance companies operating in the Indian market –

14 private life insurers, nine private non-life insurers and six public sector companies. With

many more joint ventures in the offing, the insurance industry in India today stands at a

crossroads as competition intensifies and companies prepare survival strategies in a detariffed

scenario.



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There is pressure from both within the country and outside on the Government to increase the

foreign direct investment (FDI) limit from the current 26% to 49%, which would help JV

partners to bring in funds for expansion.

There are opportunities in the pensions sector where regulations are

being framed. Less than 10 % of Indians above the age of 60 receive pensions. The IRDA has

issued the first license for a standalone health company in the country as many more players wait

to enter. The health insurance sector has tremendous growth potential, and as it matures and new

players enter, product innovation and enhancement will increase. The deepening of the health

database over time will also allow players to develop and price products for larger segments of

society.

In 1993, the first step towards insurance sector reforms was initiated with the

formation of Malhotra Committee, headed by former Finance Secretary and RBI Governor R.N.

Malhotra. The committee was formed to evaluate the Indian insurance industry.

KEY RECOMMENDATIONS OF MALHOTRA COMMITTEE STRUCTURE

Government stake in the insurance Companies to be brought down to 50%.

Government should take over the holdings of GIC and its subsidiaries so that thesesubsidiaries can act as independent corporations.

All the insurance companies should be given greater freedom to operate.

COMPETITION

Private Companies with a minimum paid up capital of Rs.1billion should be allowed to

enter the industry.

No Company should deal in both Life and General Insurance through a single Entity.

Foreign companies may be allowed to enter the industry in collaboration with the

domestic companies.

Postal Life Insurance should be allowed to operate in the rural market.

Only one State Level Life Insurance Company should be allowed to operate in each state.



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REGULATORY BODY

The Insurance Act should be changed.

An Insurance Regulatory body should be set up.

Controller of Insurance should be made independent.

INVESTMENTS

Mandatory Investments of LIC Life Fund in government securities to be reduced from

75% to 50%.

GIC and its subsidiaries are not to hold more than 5% in any company.

CUSTOMER SERVICE

LIC should pay interest on delays in payments beyond 30 days

Insurance companies must be encouraged to set up unit linked pension plans.

Computerization of operations and updating of technology to be carried out in the

insurance industry.

Malhotra Committee also proposed setting up an independent regulatory body - The Insurance

Regulatory and Development Authority (IRDA) to provide greater autonomy to insurancecompanies in order to improve their performance and enable them to act as independent

companies with economic motives.

Insurance sector in India was liberalized in March 2000 with the

passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry

restrictions for private players and allowing foreign players to enter the market with some limits

on direct foreign ownership. There is a 26 percent equity cap for foreign partners in an insurance

company. There is a proposal to increase this limit to 49 percent. The opening up of the

insurance sector has led to rapid growth of the sector. Presently, there are 16 life insurance

companies and 15 non-life insurance companies in the market. The potential for growth of

insurance industry in India is immense as nearly 80 per cent of Indian population is without life

insurance cover while health insurance and non-life insurance continues to be well below

international standards.



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CHAPTER 3

COMPANY PROFILE



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METLIFE INSURANCE

MetLife India Insurance Company Limited India known as MetLife Insurance is an associate of

MetLife, Inc. and was established as a joint venture between MetLife International Holdings,

Inc., the Jammu and Kashmir Bank, M. Pallonji and Co. Private Limited and other private

investors. MetLife is one of the quickest growing life insurance companies in India. It attends its

customers by extending a range of modern products to different individuals and group customers,

with services spread across more than 600 locations via the banking partners and company-

owned offices. Currently, MetLife has in its kitty over 50,000 Financial Advisors- who help the

customers get the right product across the length and breadth of the country.

MetLife, Inc., through its associates, extends its services to more than 70

million customers in the Americas, Asia Pacific and Europe.

MetLife, Inc. is the holding corporation for the Metropolitan Life

Insurance Company, or MetLife, for short, and its affiliates. MetLife is among the largest

global providers of insurance, annuities, and employee benefit programs, with 90 million

customers in over 60 countries. The firm was founded on March 24; 1868.On January 6, 1915,

MetLife completed the metallization process, changing from a stock life insurance company

owned by individuals to a mutual company operating without external shareholders and for thebenefit of policyholders. The company went public in 2000. Through its subsidiaries and

affiliates, MetLife holds leading market positions in the United States, Japan, Latin America,

Asia’s Pacific region, Europe, and the Middle East. MetLife is the largest life insurer in the

United States and serves 90 of the largest Fortune 500 companies. The company’s principal

offices are located at 1095 Avenue of the Americas in Midtown Manhattan, New York City,

though it retains some executive offices and its boardroom in the MetLife building, located at

200 Park Avenue, New York City, which it sold in 2005

The predecessor company to MetLife began in 1863 when a group of New

York City businessmen raised $100,000 to found the National Union Life and Limb Insurance

Company. The company insured Civil War sailors and soldiers against disabilities due to

wartime wounds, accidents, and sickness. On March 24, 1868, it became known as Metropolitan

http://en.wikipedia.org/wiki/Mutualization

http://en.wikipedia.org/wiki/Life_insurance

http://en.wikipedia.org/wiki/United_States

http://en.wikipedia.org/wiki/Fortune_500

http://en.wikipedia.org/wiki/1095_Avenue_of_the_Americas

http://en.wikipedia.org/wiki/Midtown_Manhattan

http://en.wikipedia.org/wiki/New_York_City

http://en.wikipedia.org/wiki/Metlife_Building



http://en.wikipedia.org/wiki/Civil_War

http://en.wikipedia.org/wiki/Civil_War



http://en.wikipedia.org/wiki/Metlife_Building


http://en.wikipedia.org/wiki/Midtown_Manhattan

http://en.wikipedia.org/wiki/1095_Avenue_of_the_Americas

http://en.wikipedia.org/wiki/Fortune_500

http://en.wikipedia.org/wiki/United_States


http://en.wikipedia.org/wiki/Mutualization



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Life Insurance Company and shifted its focus to the life insurance business. A severe business

depression that began in the early 1870s forced the company to contract, until it reached its

lowest point in the late 1870s. After observing the insurance industry in Great Britain in 1879,

MetLife President Joseph F. Knapp brought “industrial” or “workingmen’s” insurance programs

to the United States – insurance issued in small amounts on which premiums were collected

weekly or monthly at the policyholder’s home. By 1880, sales had exceeded a quarter million of

such policies, resulting in nearly $1 million in revenue from premiums. In 1909, MetLife had

become the nation’s largest life insurer in the U.S., as measured by life insurance in force (the

total value of life insurance policies issued).

In 1907, the Metropolitan Life Insurance Company tower was

commissioned to serve as MetLife’s 23rd Street headquarters in Lower Manhattan. Completedtwo years later, the building was the world's tallest until 1913 and remained the company's

headquarters until 2005. For many years, an illustration of the building (with light emanating

from the tip of its spire and the slogan, "The Light That Never Fails") featured prominently in

MetLife’s advertising. By 1930, MetLife insured every fifth man, woman, and child in the

United States and Canada. During the 1930s, it also began to diversify its portfolio by reducing

the percentage of individual mortgages in favor of public utility bonds, investments in

government securities, and loans for commercial real estate. The company financed the

construction of the Empire State Building in 1929 as well as provided capital to build

Rockefeller Center in 1931. During World War II, MetLife placed more than 51 percent of its

total assets in war bonds, and was the largest single private contributor to the Allied cause.

Postwar

During the postwar era, the company expanded its suburban presence, decentralized operations,

and refocused its career agency system to serve all market segments. It also began to market

group insurance products to employers and institutions. By 1979, operations were segmented

into four primary businesses: group insurance, personal insurance, pensions, and investments. In

1981, MetLife purchased what became known as the MetLife building for $400 million from a

group that included Pan American World Airways.

http://en.wikipedia.org/wiki/Metropolitan_Life_Insurance_Company_Tower

http://en.wikipedia.org/wiki/Advertising

http://en.wikipedia.org/wiki/Canada

http://en.wikipedia.org/wiki/Empire_State_Building

http://en.wikipedia.org/wiki/Rockefeller_Center

http://en.wikipedia.org/wiki/World_War_II

http://en.wikipedia.org/wiki/Allies_of_World_War_II

http://en.wikipedia.org/wiki/Pan_American_World_Airways

http://en.wikipedia.org/wiki/Pan_American_World_Airways

http://en.wikipedia.org/wiki/Allies_of_World_War_II

http://en.wikipedia.org/wiki/World_War_II

http://en.wikipedia.org/wiki/Rockefeller_Center

http://en.wikipedia.org/wiki/Empire_State_Building

http://en.wikipedia.org/wiki/Canada

http://en.wikipedia.org/wiki/Advertising

http://en.wikipedia.org/wiki/Metropolitan_Life_Insurance_Company_Tower



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Current era

In 1998, the board of directors authorized demutualization. Eighteen months later in April 2000,

MetLife held an IPO, resulting in the issuance of 202,000,000 shares at the price of $14.25 per

share. At the time of the IPO, MetLife, Inc. had nine million shareholders and was the most

widely held stock in North America. In 2001, MetLife was the first insurance company to

establish a financial holding company with a nationally chartered bank through its purchase of

Grand Bank, which was renamed MetLife Bank. The company also invested $1 billion in the

U.S. stock market during 2001, immediately after the September 11th terrorist attacks.

MetLife acquired Travelers Life & Annuity and substantially all of

Citigroup’s international insurance businesses for $12 billion. At the time of the deal, which was

completed on July 1, 2005, the Travelers acquisition made MetLife the largest individual life

insurer in North America based on sales Current MetLife chairman C. Robert (Rob) Hendrickson

was appointed chairman of the board of directors, president and chief executive officer of

MetLife in 2006. In 2008, MetLife Bank, N.A., a division of MetLife Inc., purchased the

residential mortgage business of Memphis-based First Horizon National Corporation. The

purchase included the home loan unit of First Tennessee Bank National Association (outside

Tennessee), with 230 offices in the US. The same year, MetLife also purchased the reverse

mortgage division of Florida-based Ever bank Financial Corp. Both transactions were completed

in order to expand the company's stake in the US housing market. Later that year, MetLife split-

off substantially all of its 52% stake in Reinsurance Group of America, Inc. MetLife had

received the majority stake in RGA as a result of its 2000 acquisition of GenAmerica. The split-

off gave MetLife shareholders the option to exchange MetLife shares for shares of RGA.

In 2010, MetLife completed its purchase of American Life Insurance

Company (Alico), from American International Group (AIG). The $16.2 billion acquisition of

Alico expanded the company’s life insurance and employee benefits business into more than 60

countries compared to 17 countries before the acquisition. On March 21, 2011, MetLife

announced that Steven Canadian, who had headed MetLife's investment department would

succeed Robert Hendrickson as President and CEO as of May 1, 2011.

http://en.wikipedia.org/wiki/Demutualization

http://en.wikipedia.org/wiki/Initial_public_offering

http://en.wikipedia.org/wiki/First_Horizon_National_Corporation

http://en.wikipedia.org/wiki/First_Tennessee_Bank

http://en.wikipedia.org/wiki/Everbank

http://en.wikipedia.org/wiki/Steven_Kandarian

http://en.wikipedia.org/wiki/Steven_Kandarian

http://en.wikipedia.org/wiki/Everbank

http://en.wikipedia.org/wiki/First_Tennessee_Bank

http://en.wikipedia.org/wiki/First_Horizon_National_Corporation

http://en.wikipedia.org/wiki/Initial_public_offering

http://en.wikipedia.org/wiki/Demutualization



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Products and services

Insurance products accounted for 53% of MetLife’s 2009 $49 billion of revenue. MetLife is the

largest life insurer in the United States and Mexico and is the second-largest foreign provider of

insurance in Japan and worldwide its customers total 90 million individuals.

Life insurance

MetLife’s individual life insurance products and services comprise term life insurance and

several types of permanent life insurance, including whole life, universal life and variable

universal life. The company also offers group life insurance, provided through employers, which

consists of term life, group variable universal life and group universal life. MetLife is the largest

life insurer in the United States, based on life insurance in-force.

Dental

MetLife offers group dental benefit plans for individuals, employees, retirees and their families

and provides dental plan administration for over 20 million people. Plans include MetLife’s

Preferred Dentist Program (PPO) and the Safeguard DHMO (available for both individuals and

employees in CA, FL, and TX). As of May 2010, MetLife’s dental PPO network included over

135,000 participating dentist locations nationwide while the dental HMO network included more

than 13,000 participating dentist locations in California, Florida and Texas. MetLife also

administers dental continuing education program for dentists and allied health care professionals,

which are recognized by the American Dental Association (ADA) and the Academy of General

Dentistry (AGD).

Disability

MetLife provides disability products for individuals as well as employee and association groups

who receive them through their employer. For individuals, the company’s individual disability

income insurance can replace a portion of lost income if an individual is unable to work due to

sickness or injury For groups, MetLife offers short term disability insurance and long term

disability insurance. Short term disability insurance is structured to replace a portion of an


http://en.wikipedia.org/wiki/Term_life_insurance

http://en.wikipedia.org/wiki/Permanent_life_insurance

http://en.wikipedia.org/wiki/Preferred_provider_organization


http://en.wikipedia.org/wiki/HMO

http://en.wikipedia.org/wiki/California

http://en.wikipedia.org/wiki/Florida

http://en.wikipedia.org/wiki/Texas

http://en.wikipedia.org/wiki/American_Dental_Association

http://en.wikipedia.org/wiki/Academy_of_General_Dentistry


http://en.wikipedia.org/wiki/Disability_insurance

http://en.wikipedia.org/wiki/Disability_insurance



http://en.wikipedia.org/wiki/American_Dental_Association

http://en.wikipedia.org/wiki/Texas

http://en.wikipedia.org/wiki/Florida

http://en.wikipedia.org/wiki/California

http://en.wikipedia.org/wiki/HMO


http://en.wikipedia.org/wiki/Permanent_life_insurance

http://en.wikipedia.org/wiki/Term_life_insurance




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identity-theft resolution services at no extra premium and as of 2011 continues to do so today in

most U.S. states.

Other products

MetLife’s products also include critical illness insurance. Financial services include fee-based

financial planning, retirement planning, wealth management, 529 Plans, banking, and

commercial and residential mortgages. The company also provides retirement plan and other

financial services to healthcare, education, and not-for-profit organizations. The MetLife Center

for Special Needs Planning is a group of planners which serve families and individuals with

special needs.

International presence

Outside of the U.S., MetLife operates in Latin America, Europe, Asia’s Pacific region, and the

Middle East, with leading market positions in Mexico, Japan, South Korea and Chile. On March

8, 2010, Met Life announced its intent to purchase the international leader life-insurance

business, American Life Insurance Company (Alico), from American International Group (AIG).

MetLife [MET], which completed the deal on November 1, 2010, paid approximately $7.2

billion in cash and $9.0 billion in MetLife equity and other securities. The securities portion of

the deal consisted of 78.2 million shares of MetLife common stock, 6.9 million shares of

contingent convertible preferred stock and 40 million equity units. The values of the common

and preferred stock were based on the closing price of MetLife’s common stock on October 29.

Upon completion of the purchase, MetLife became a leading competitor in Japan, the world’s

second-largest life insurance market, and moved into a top five market position in many high

growth emerging markets in Central and Eastern Europe, the Middle East and Latin America.

The deal added 20 million customers to MetLife’s 70 million and according to Barron’s

Magazine more than doubled the percentage of operating profits that MetLife gets abroad to

40%.

http://en.wikipedia.org/wiki/Critical_illness_insurance

http://en.wikipedia.org/wiki/Mortgages

http://en.wikipedia.org/wiki/American_International_Group

http://en.wikipedia.org/wiki/Japan


http://en.wikipedia.org/wiki/Barron%27s_Magazine






http://en.wikipedia.org/wiki/American_International_Group

http://en.wikipedia.org/wiki/Mortgages

http://en.wikipedia.org/wiki/Critical_illness_insurance



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Charitable activity

MetLife Foundation was created in 1976 to continue the company’s philanthropic efforts and

community involvement. The Foundation makes grants in health, education, civic affairs and

culture. In 2010, MetLife and MetLife Foundation contributed over $44.7 million to nonprofit

organizations and $489 million in loans and investments for community development.

As of 2011, MetLife owns or operates six Leadership in Energy and

Environmental Design certified properties and 14 Energy Star-rated facilities. Between 2006 and

2010, properties maintained by the company have reduced their energy consumption by more

than 16 percent. The company has also invested more than $1 billion in renewable energy

projects including Pattern Energy Group LP’s Gulf Wind project and Xcel Energy’s solar power

plant in Colorado.

Awards

MetLife was named the “Best Managed Insurance Company for 2008” by Forbes magazine. For

three consecutive years (2008 –2010) the company has also appeared on FORTUNE’s list of the

most-admired companies. MetLife was recognized by Diversity MBA magazine as one of its

“Top 50 Companies for Diverse Managers” in 2007, 2008, 2009 and 2010. The magazinehighlighted MetLife’s Enterprise Diversity Council and noted how the council helps “set

direction, communicate strategy and ensure consistency of the diversity message across

MetLife.” For eleven consecutive years (1999 – 2009) MetLife has been named by Working

Mother magazine as one of the “100 Best Companies for Working Mothers,” specifically for

offering flexible schedules, remote working capabilities and various child care options. MetLife

has also been awarded a perfect score for seven consecutive years (2004 – 2010) by the Human

Rights Campaign Foundation for its “Corporate Equality Index-Best Companies for People who

are Gay, Lesbian, Bisexual, or Transgendered.”

Subsidiary and affiliate companies

Other MetLife subsidiaries and affiliates include MetLife Investors, MetLife Bank, MetLife

Securities, Metropolitan Property and Casualty Insurance Company and its subsidiaries, General

http://en.wikipedia.org/wiki/Health

http://en.wikipedia.org/wiki/Education

http://en.wikipedia.org/wiki/Culture

http://en.wikipedia.org/wiki/Nonprofit


http://en.wikipedia.org/wiki/Leadership_in_Energy_and_Environmental_Design


http://en.wikipedia.org/wiki/Energy_Star

http://en.wikipedia.org/wiki/Gulf_Wind_Farm

http://en.wikipedia.org/wiki/Xcel_Energy


http://en.wikipedia.org/wiki/Human_Rights_Campaign_Foundation





http://en.wikipedia.org/wiki/Gulf_Wind_Farm

http://en.wikipedia.org/wiki/Energy_Star





http://en.wikipedia.org/wiki/Culture

http://en.wikipedia.org/wiki/Education

http://en.wikipedia.org/wiki/Health



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American, Hyatt Legal, MetLife Insurance Company of Connecticut, MetLife Resources, New

England Financial, Walnut Street Securities, Inc., Safeguard Health Enterprises, Inc., and Tower

Square Securities, Inc.

SERVICES OF METLIFE

Annuities

Automobile and home insurance

Retail banking

Other financial services to individuals

Group insurance

Reinsurance

Retirement and savings products and services

Childplan

Every parent would dream of fulfilling the child's need. Expenses are on the rise every day, thus

ensuring a good future for the child in increasingly becoming difficult. The child insurance plans

of MetLife secure the future of the child such that you do not have to think tomorrow.

Met Bhavishya Met Junior Endowment

Met Little Star

Met Junior Money Back

Met Magic

RetirementPlan:

New beginnings, new joys and the opportunity to explore the unfulfilled dreams of the past -

these are the essential elements of a post retirement life. Financial independence is very

important at this stage. The exhaustive retirement plans of MetLife guarantee a financially secure

retirement.

Met Growth

Met Advantage Plus



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Met Pension-Par

SavingsPlan:

Everybody dreams. And dreams can take any shape - be it the wedding of your child, buying a

house or a car and anything. The savings plans of MetLife help realize the dreams and secure the

future.

Met Sukh

Met Suvidha

Met Saral

Met 100

ProtectionPlan:

The protection plans of MetLife Insurance relieve you from the burden of home loans, EMIs and

similar responsibilities.

Met Suraksha

Met Suraksha TROP

Met Mortgage Protector

Met Suraksha Plus

RuralPlan:

The rural plans of MetLife Insurance shield your loved ones against financial obligations and

also assist you to save for tomorrow. The rates of premium are quite affordable.

Met Vishwas

Met Suvidha-Rural

InvestmentPlan:

The Unit-Linked Insurance Plans of MetLife guarantees that your wealth is enhanced. Offering

protection and wealth optimization at the same time, they are customized to meet your

requirements.

Met Easy



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Met Smart Gold

Met Smart Plus-Regular Pay

Met Smart Premier- Regular Pay

Met Smart Plus- Single Pay

Met Smart Premier- Single Pay

HealthPlan:

Get yourself a health insurance plan from MetLife to meet the contingencies during ill health or

ill financial health consequently. The Met Health Care, an elementary health insurance policy

has unique advantages associated for you and your family. Family comprises of spouse and two

children



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CHAPTER 4

LITERATURE REVIEW



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competitor’s product; and so he become brand loyal. Xerox Corporation, for instance, believes

that a very satisfied customer will stay with the company for more years and will bring more

business to the firm.

Complete customer satisfaction is achieved by understanding customerrequirements and delivering superior quality goods and services. Companies must provide the

customers with a continuous flow of new ideas / offers and constantly enhance their service

levels to build up satisfaction among customers. Understanding the customer and providing

satisfaction is not the prerogative of the marketing department alone. Every function/employee

needs to contribute to understanding the consumer needs and then fulfilling them.

Organization need to map customer needs and wants with their product. If the

products do not fulfill customer needs and wants, organizations need to take the initiative to

improve their products. Customer should be an integral part of the product development and

improvement process. As customer needs and wants and wants do not remain constant

organizations also need to monitor the trends in the changes in customer needs and wants

continuously so that they can modify their products and services continuously to satisfy their

customers in the long run.

Customer satisfaction can be measured using different techniques like

questionnaires and direct interviews. In the world of cut throat competition, companies can

survive only when they outsmart competition. The company can be surviving only they satisfied

with the customer needs and wants

Satisfaction-fulfillment or gratification of need, desire, appetite

Determination of customer satisfaction

We cannot create customer satisfaction just by meeting customers’ requirements

fully because these have to be met in any case. However falling short is certain to create

dissatisfaction.

Major attributes of customer satisfaction can be summarized as

Product quality



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data should also be sufficiently reliable for decision making. This can be achieved by

incorporating objective type questions where customer has to rate on scale of say, 1 to 5.for

repeated surveys; you could provide the rating that was previously accorded by the customer.

This work like a reference point for the customer. Space should always customers own opinions.

This enables them to state any additional requirement or report any short coming that are not

covered by the objective questions.

Normally, we deal various personal at various levels in the customer’s

organization the buyer, the user receiving inspector finance and purchase person etc. surveying a

no of respondents for each customer gives a complete perspective of customer satisfaction. It

may be necessary to device a different questionnaire for each of them.

Respondents must be provided a way to express the importance they attach to

various survey parameters. Respondents should be asked to a waiting factor, again on a rating

scale of say 1 to 5 of each requirement. This gives a better indication of relative importance of

each parameter towards overall customer satisfaction and makes it easier for supplies to

prioritize their action plans by comparing the performance rating (scores) with importance rating

(weighting).



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CHAPTER 5

RESEARCH METHODOLOGY



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5.1 RESEARCH METHODOLOGY

Research is the systematic process of collecting and analyzing information for increased

understanding of the subject being studied. When manager feels weary or uncertain about

making a decision, they may decide to gather additional information that will reduce uncertainty.Research methodology details with objective of research problem, the types of hypothesis

formulated and the type of data collected, methods used for collecting and analyzing the data etc.

Methodology includes the collection of primary data and secondary data. It deals with cognitive

process imposed in research by problem arising from nature of its subject matter.

5.2 RESEARCH DESIGN

A research design used is the arrangement of conditions for collection and analysis of data in a

manner that aims to combine relevance to the research purpose with economy in procedure .In

fact the research design is the conceptual framework within which research is conducted. It

constitutes the blue print for the collection, measurement and analysis of data.

5.3 RESEARCH TYPE

Type of research is descriptive research. Descriptive research is to describe the state of view as it

exists at present. It is a fact finding investigation. It is a scientific method which involves

observing and describing the behavior of respondents without influencing it in anyway. It has

described and analyzed the satisfaction of customers towards insurance products and services

with reference to MetLife Edappal

5.4 SAMPLE SELECTION AND SIZE

Convenient sampling method is using for this study. It is a method in which the data is collecting

according to the convenience of the investigator. The sample size of the study is around 100

customers.



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5.5 SOURCES OF DATA

5.6 PRIMARY DATA

Both primary and secondary sources are using for this study. The primary data is collecting by

administrating questionnaire. This study requires the data to be collecting in a formal way. So the

primary data is collecting through a well structured questionnaire. Questionnaire contains 29

questions. The questionnaire deals with the satisfaction of customers.

5.7 SECONDARY DATA

Secondary data means from secondary sources. This data is collecting through the sources of all

the reading books on marketing, magazines, newspapers and websites of the company.

5.8 TOOLS FOR ANALYSIS

This data is analyzing with the help of percentage analysis. This will make the collected data

more accurate. Every part of the analysis is represented by tables and charts.

5.9 LIMITATIONS

In the study aims to achieve above mentioned objectives in full earnest and accuracy, it may be

harmed due to certain limitation. Some of the limitation of this study may be summarized as

follows:

Time constraints were one of the limitations in the study was conducted within a 21

days period.

Sample size is limited due to the limited period of days allocated for the survey.

People are not willing to co-operate fully.

Getting accurate response from the respondents due to their inherent problems in

difficult. They may be partial or refuse to co-operate.

Most of them are not aware of the core benefits of the insurance.



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CHAPTER 6

ANALYSIS &INTERPRETATION



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DATA ANALYSIS AND INTERPRETATIONS

The data collected from the various respondents through questionnaire were tabulated and

analyzed to find their satisfaction level of insurance. This chapter discusses the major findings

from the study.

1. Age

Table no.1

Chart no.1

Inference

From the above table and graph, it can be seen that majority of the respondents (41%) are in the

age group of 25-35 years. 25% of the respondents are in the age group of 35-45 years, 18% of

the respondents in 45-55 years. While 11% of the respondents are below 25 years, only 6% are

above 55 years. From this it can be inferred that most of the customers are young people.

0

20

40

60

80

100

120

Less

than 25

25-35 35-45 45-55 Above

55

Total

% of respondents

% of respondents

Age No of respondents % of respondents

Less than 25 11 1125-35 41 4135-45 24 24

45-55 18 18Above 55 6 6Total 100 100



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2. Sex

Table no.2

Sex No of respondents % of respondentsMales 64 64

Female 36 36

Total 100 100

Chart no.2

Inference

From the above table and graph, that majority of the respondents are male (64%) and only 36%

are female. From this it can be inferred that most of the customers are male.

0

20

40

60

80

100

120

Male Female Total

No of respondents



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3. Marital status

Table no.3

Marital status No of respondents % of respondentsMarried 87 87

Unmarried 13 13

Total 100 100

Chart no.3

Inference

From the above table and graph that majority of the respondents are married (87%) and only

13% are unmarried. From this it can be inferred that most of the customers are married.

0

20

40

60

80

100

120

Married Unmarried Total

% of respondents



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4. Occupation

Table no.4

Occupation No of respondents % of respondentsGovt. Employee 18 18

Private employee 50 50

Unemployed 2 2

Employed abroad 11 11

House wife 2 2

Business/ self

employed

17 17

Total 100 100

Chart no.4

0

20

40

60

80

100

120

% of respondents

% of respondents



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Inference

From the above table and graph, that majority of the respondents (50%) are private employees.

18% of the respondents are govt. employee, 17% of the respondents are business. 11% of the

respondents are abroad, 2% of the respondents are housewife’s. from this it can be inferred that

most of the customers are private employee.



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5. Monthly income

Table no.5

Monthly income No of respondents % of respondentsLess than 5000 0 0

5001-10000 13 13

10001-15000 10 10

15001-20000 18 18

20000-25000 39 39

Above 25000 19 19

Total 100 100

Chart no.5

Inference

From the above table and graph, it can be seen that majority of the respondents (39%) are 20000-

25000 income groups, 19% respondents are in the group of above 25000, 18% respondents are in

the group of 15001-20000, 13% respondents are in the group of 5001-10000,and only

10%respondents are in the group of 10001-15000. From this can be inferred that most of the

customers are 20000-25000 income groups.

0

20

4060

80

100

120

% of respondents

% of respondents



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6. Educational qualification

Table no.6

Educational qualification No of respondents % of respondentsBelow graduation 27 27

Graduate 20 20

Post graduate 23 23

Professional 15 15

Others 15 15

Total 100 100

Chart no.6

Inference

From the above table and graph, it can be seen that majority of the respondents (27%) are below

graduation, 23% of the respondents are in post graduate, and only 20% of the respondents are in

graduate. from this it can be inferred that majority of the customers are in graduate.

0

20

40

60

80

100

120

% of respondents

% of respondents



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8. Physical appearance and surrounding of the branch office is attractive

Table no.8

Satisfaction level No of respondents % of respondentsStrongly disagree 0 0

Disagree 0 0

Neither disagree nor agree 6 6

Agree 68 68

Strongly agree 26 26

Total 100 100

Chart no.8

Inference

From the above table and graph it can be seen that majority of the respondents (68%) are agree

with the given statements, 26% of the respondents are in strongly agree with the statement and

only 6% of the respondents are neutral with the statement. from this it can be inferred that most

of the customers are agree with the statement.

0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents



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10. Availability of Information through Product & Service Brochures,

leaflets, letters

Table no.10

Satisfaction level No of respondents % of respondents

Strongly disagree 0 0

Disagree 0 0


Agree 66 66


Total 100 100

Chart no.10

Inference

From the above table and graph, it can be seen that majority of the respondents (66%) are agree

that the statement, 25% of the respondents are strongly agree with the statement and only 9% of

the respondents are neither disagree nor agree with that statement. From it can be inferred that

most of the customers are agree with given statement.

0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents



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12. Staff provides error free services

Table no.12



Disagree 0 0


Agree 56 56


Total 100 100

Chart no.12

Inference




most of the customers are agree with given statement

0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents



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13. Staff is committed to fulfill promises in timely manner

Table no.13



Disagree 0 0


Agree 56 56


Total 100 100

Chart no.13

Inference

From the above table and graph, it can be seen that majority of the respondents(56) are agreethat the statement, 38% of the respondents are strongly agree with the statement and only 6% of



0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents

% of respondents



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14. Company is having competitive pricing compared to others

Table no.14



Disagree 1 1


Agree 61 61


Total 100 100

Chart no.14

Inference

From the above table and graph, it can be seen that majority of the respondents(61%) are agree




0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents



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18. Company provides guarantee/warranty of the service performed

Table no.18



Disagree 1 1


Agree 52 52


Total 100 100

Chart no.18

Inference





0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents



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19. Employees of company provide prompt service to their customer

Table no 19



Disagree 0 0


Agree 55 55


Total 100 100

Chart no 19

Inference





0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents



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23. Employees in company are very experienced in solving or diagnosing the

Customer’s problem

Table no 23



Disagree 0 0


Agree 58 58


Total 100 100

Chart no 23

Inference





0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents



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25. Privacy of customer’s information is maintained

Table no 25



Disagree 0 0


Agree 55 55


Total 100 100

Chart no 25

Inference

From the above table and graph, it can be seen that majority of the respondents (55%) are agreethat the statement, 38% of the respondents are strongly agree with the statement and only 7% of



0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents



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27. Company is widely known

Table no 27



Disagree 0 0


Agree 60 60


Total 100 100

Chart no 27

Inference


that the statement, 32% of the respondents are strongly agree and 8% of the respondents are

thinking neutral way. From it can be inferred that most of the customers are agree with given

statement

0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents

% of respondents



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31. Insurer has their customer best interest in heart

Table no 31



Disagree 0 0


Agree 55 55


Total 100 100

Chart no 31

Inference



neither disagree nor agree with that statement. From it can be inferred that most of the customers

are agree with given statement

0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents

% of respondents



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32. Company has convenient Business Hours

Table no 32



Disagree 0 0


Agree 55 55


Total 100 100

Chart no 32

Inference





0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents

% of respondents



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33. I trust staff of Insurance Company

Table no 33



Disagree 0 0


Agree 56 56


Total 100 100

Chart no 33

Inference

From the above table and graph, it can be seen that majority of the respondents (56%) are agreethat the statement, 42% of the respondents are strongly agree and 2% of the respondents are



0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents

% of respondents



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34. Agents/advisors have concern and understanding of customer’s problem

Table no 34



Disagree 0 0


Agree 54 54


Total 100 100

Chart no 34

Inference

From the above table and graph, it can be seen that majority of the respondents (54%) are agreethat the statement, 43% of the respondents are strongly agree and 3% of the respondents are


are agree with given statement.

0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents

% of respondents



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35. Does company serve you during extended hour?

Table no 35



Disagree 0 0


Agree 59 59


Total 100 100

Chart no 35

Inference

From the above table and graph, it can be seen that majority of the respondents (59 %) are agree

with the given statement,38% of the respondents are strongly agree and only 3% of the

respondents are thinking neutral way. From this it can be inferred that most of the customers are

agree with statement.

0

20

40

60

80

100

120

Strongly

disagree

Disagree Neither

disagree

nor

agree

Agree Strongly

agree

Total

% of respondents

% of respondents



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53% customers are agreeing that the Employees in company are willing to help their

customers.

55% customers are agree that the Employees are trustworthy and honest

58% customers are agree that the Employees in company are very experienced in solving

or diagnosing the Customers’ problem

55% customers are agree that the Privacy of customers information is maintained

54% customers are agree that the Customer gets individual attention



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7.2 SUGGESTIONS

The study has provided with the useful data from the respondents. Following are the

recommendations.

There is a need for better promotion for the investment products &services.The insurance should advertise its products through television because it willreach to the masses.

More returns should be provided on Insurance plans.

The company has to use latest technology especially in the area of marketing activity tomake more satisfied customers

The company has to provide more guarantee/warranty to their customers



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7.3 CONCLUSION

The study elucidates the factors that are looked into by the customers before making final

selection. The objectives of the insurance companies are to grab the customer by offering

different products available under the portfolio of company in this era of privatization of insurance sector. A research of this kind will help the customers to take well informed decisions

while opting for insurance products & services provided by a particular organization, which

fulfill their needs and wants in the best possible manner. This research will help the insurance

companies to identify the areas needing improvement.

A simple tool is to take customer satisfaction surveys and analyze the customer

feedback. This gives the supplier an insight on where he lacks in delivering his products or

services and where is the scope of improvement. MetLife do their customer satisfaction role veryeffectively. The study reveals that the customer satisfaction on this company is good.



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BIBLIOGRAPHY



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Bibliography

Books

KOTHARI C.K., “ Research Methodology” , New Delhi., Wishwa Prakasam., 1997

edition

Marketing management by Philip kotler ,Margaret,h.cunningham,Ronald e.tuner, 13 th

edition

Websites

http://en.wikipedia.org/wiki/Insurance

www.metlife.co.in

http://en.wikipedia.org/wiki/Customer_satisfaction



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QUESTIONNAIRES

reshma a.r minor project report

Documents