A Study on Service Quality Perspectives and Customer Satisfaction in New Private Sector Banks

Abstract

The objective of this study is to examine the level of service quality as perceived by customers of Bajaj Allianz Life insurance company working in Mangalore. To measure the Service quality Parasuraman et al. (1988) developed SERVQUAL Model which evaluates the service quality in five dimensions like Reliability, Responsiveness, Empathy, Assurance, and Tangibles. The data is analyzed by PZB gap analysis. The results of this study show that Responsiveness has maximum average gap score of 0.820 which is higher than other four dimensions, implying dissatisfaction of customers. The Bajaj Allianz Life Insurance Company should have positive approach towards customers and require individual attention which helps the company to improve their brand image in the mind of the customers.