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Customer Questionnaire

PART I (General Information)


Please provide the correct information for each of the following. All information will be used
strictly for research purposes.
1. Name

2. Age

3. Sex

4. Occupation

: Business

Service

Housewife
5. Monthly Income

: Under
40,000 -

Agriculture

Student
20,000

20,000 -

60,000

60,000 -

40,000

80,000

80,000 and above


6. Please choose your Life Insurance Company from below:
(Please use a separate questionnaire if you are a customer of more than one Life Insurance
Company)
i. LIC

ii.HDFC Standard

iii. ICICI Prudential

iv. Bajaj Allianz

v. Birla Sunlife

vi. SBI Life

7. For how long have you been a customer of your present Life Insurance Company?
i. Less than 3 years

ii. 3-6 Years

iii. 6-9 Years

iv. Above 9 years

8. What type of life insurance


nsurance policy(s) do you own from the following?
(Kindly
Kindly use separate questionnaire if you have more than one product policy)
Endowment Plan
i.. Traditional Plans
Money Back Plan
ii. Unit Linked Plans (ULIPs)
9. What is your purpose of buying the insurance policy?
(Rate from 1-55 according to your reason for buying 1 meaning the most important reason and 5
meaning least important.)
i. Insurance
ii. Saving
iii Protection of Wealth
iv Tax Saving
v. Pension

PART II (Expectations Section)


Please check your extent of agreement or disagreement with the feature described by each statement related
to the Life Insurance Companies that would deliver excellent quality of service.

Strongly
Agree

E1

Will have modern equipments and will support latest


technology.

E2

Will have physical infrastructure which is visually


appealing

E3

Employees and agents will be smart and have an


attractive appearance

E4

Materials associated with the services provided will


be visually appealing and will cover all associated
terms and conditions.

E5

Promise to do something in a specified time will be


fulfilled.

E6

Whenever any problem is encountered by customers,


sincere effort will be put in to solve it.

E7

Will always perform the right service at the first


instance.

E8

Will always provide error free records.

E9

Will enjoy goodwill and sound financial foundation.

E10

Will give prompt services to customers and tell


customers about the exact time frame in which
services will be performed.

E11

Will always be delighted to help the customers.

E12

Will always be willing to respond to customers'


needs and requests.

E13

Will continuously communicate with customers by


using the methods that suit best to the needs of
customers.

E14

Will use latest internet based communication tools to


effectively reach the customers.

E15

The behavior will enhance the level of confidence in


customers.

E16

Customers will feel fair and safe in conducting


transactions.

Agree

Neutral

Disagree

Strongly
Disagree

Strongly
Agree

E17

Will be professionally competent enough to provide


services to customers.

E18

Will give precise and detailed representation of


products and services.

E19

Will give individual attention to customers.

E20

The operating hours will be convenient to all the


customers.

E21

Will have a clear understanding of the specific needs


of their customers.

E22

Will receive complaints and criticisms from


customers and responds to them positively.

E23

Will organize periodic consumer need based


awareness programs to have greater understanding
with the customers

E24

Will make ethic based policies and commit to ethical


practices.

E25

Will offer products and services specialized


according to customer needs and having best quality
among competitors.

E26

Will offer a wide range of policies and products.

E27

The pricing of the products and services will be


highly competitive vis--vis competitors.

E28

Will provide guarantee through various provisions to


ensure highest quality of products and services.

E29

Will have a clear line (Unique Selling Point) to


differentiate their products and services.

E30

Will have clear and transparent terms and conditions


specified in the policy at the time of issuance.

E31

Will settle customers' claims without any


unreasonable paperwork and delay.

E32

The formalities of buying a policy will be easy.

E33

Will have consistent and easy to understand process


of underwriting policies.

E34

Will have simplified terms for renewal of policy.

E36

Will offer promotional schemes to attract the


customers from time to time.

E37

Will offer easy modes (Electronic Clearing System,


Internet etc.) for payment of premium.

Agree

Neutral

Disagree

Strongly
Disagree

E38

Will offer additional packages in terms of riders


(such as accidental rider, disability rider etc.) to
combine with policies.

PART III (Perceptions Section)


Please check your extent of agreement or disagreement with the features depicted by each statement related to
your perceptions about quality of services provided by your life Insurance company.
Strongly
Agree

P1

Has modern equipments and will support latest


technology.

P2

Has physical infrastructure which is visually


appealing

P3

Employees and agents are smart and have


attractive appearance

P4

Materials associated with the services provided are


visually appealing and will cover all associated
terms and conditions.

P5

Promises to do something in a specified time are


fulfilled.

P6

Whenever any problem is encountered by


customers, sincere effort is put to solve it.

P7

Performs the right service at the first instance.

P8

Provides error free records.

P9

Enjoys goodwill and sound financial foundation.

P10

Give prompt services to customers and tell


customers about the exact time frame in which
services will be performed.

P11.

Delighted to help the customers.

P12

Always willing to respond to customers' needs and


requests.

P13.

Continuous communication with customers by


using the methods that suit best to the needs of
customers.

P14.

Uses latest internet based communication tools to


effectively reach the customers.

P15.

The behavior enhances the level of confidence in


customers.

Agree

Neutral

Disagree

Strongly
Disagree

Strongly
Agree

P16

Customers feel fair and safe in conducting


transactions.

P17

Are professionally competent enough to provide


services to customers.

P18

Give precise and detailed representation of


products and services.

P19

Give individual attention to customers.

P20

The operating hours are convenient to all the


customers.

P21

Have a clear understanding of the specific needs of


their customers.

P22

Receives complaints and criticisms from


customers and responds to them positively.

P23

Organizes periodic consumer need based


awareness programs to have greater understanding
with the customers.

P24

Make ethic based policies and commit to ethical


practices.

P25

Offer products and services specialized according


to customer needs and having best quality among
competitors.

P26

Offer a wide range of policies and products.

P27

The pricing of the products and services are highly


competitive vis--vis competitors.

P28

Provides guarantee through various provisions to


ensure highest quality of products and services.

P29

Has a clear line (Unique Selling Point) to


differentiate their products and services.

P30

Has clear and transparent terms and conditions


specified in the policy at the time of issuance.

P31

Settles customers' claims without any


unreasonable paperwork and delay.

P32

The formalities of buying a policy are easy.

P33

Has consistent and easy to understand process of


underwriting policies.

P34

Have simplified terms for renewal of policy.

P35

Provides simplified procedures for alterations such


as change in address, nominee etc. in the policy.

Agree

Neutral

Disagree

Strongly
Disagree

P36

Offers promotional schemes to attract the


customers from time to time.

P37

Offers easy modes (Electronic Clearing System,


Internet etc.) for payment of premium.

P38

Offers additional packages in terms of riders (such


as accidental rider, disability rider etc.) to combine
with policies.

PART IV
The following table relates to your perception of the overall service quality of the services provided by your
company. Please tick the no. that best reflects your assessment.
1

Poor quality

Excellent

Inferior

Quality
Superior

Low

High

Standards
One of the

Standards
One of the

worst

Best

PART V
Kindly rate the following statements from 1-5, 1 if you think that the feature is Least likely and tick 5
if you think that the feature is Most likely.

I will
1

say positive things about the company to other people

recommend the company who seeks my advice

encourage friends and relatives to buy products from the


company

do more business with the company in next few years

consider the company as first choice to buy various services

do less business with the company in the next few years

take some of my business to a competitor that offers better


products at more attractive prices

continue to do business with the company even if its prices


increases somewhat

I am ready to pay higher price than the competitors charge


for the benefits I currently enjoy from the company

If I experience a problem with the companys service I


will
10

switch to a competitor

11

complain to other consumers

12

complain to external agencies such as ombudsman and


grievance cell

13

complain to companys employees

PART VI
1. Do you have a ULIP policy? Yes

No

If Yes then:
(a) From where did you come to know about ULIP?
i. Advertisement

ii.Agent/ Employee

iii. Friend/Relative

iv. Any other source

(b) Please tick from the following options about which you are aware of regarding ULIP:
i.

How and where the money will be invested

ii.

Risks involved with the investment

iii.

Agents commission

iv.

Maturity amount

v.

Flexible policy options(Switching, top ups, partial withdrawls)

(c) Please tick if you are aware of the following features related to premium payment of ULIP:
i.

Regular fund value statements

ii.

Possibility of on line tracking

iii.

Fund switching

iv.

Premium redirection

v.

Premium relocation

(d) Did you receive advisory regarding the following from the employees of your company?
i.

Suggestion about fund switching

ii.

Fund value/ NAV

iii.

Mailers about new products

iv.

SMS / Reminder letters

v.

When to enter/exit a product

vi.

Premium allocation

vii.

Any other (please specify) _____________________________

(e) How satisfied are you regarding the adequacy of information you received regarding ULIP?
1 Highly Satisfied

2 Satisfied

4 Dissatisfied

5 Highly Dissatisfied

3 Neutral

2. How much amount did you receive in the specified period as conveyed to you by the agent/employee
of the insurance company after surrender?
i. Less than 50%

ii 50% - 80%

iii. Full amount

iv. Not Applicable

(a). How satisfied are you with the time taken for surrender?
Highly Satisfied

Satisfied

Neutral

Dissatisfied

Highly Dissatisfied

(b) How satisfied are you with the role played by the agents/employees of your company during the
process of surrender?
Highly Satisfied

Satisfied

Neutral

Dissatisfied

Highly Dissatisfied

(c) What is your opinion regarding the no. of documents and other formalities required by your
company during the process of surrender?
Very High

High

Average

Low

Very Low

4. Did you ever use any influence to settle the claim at the time of maturity/Death?

Yes

No

If yes, (Please specify):


(a) Whom did you need to contact?
1 Employee (s) of the company
4 Politician

Senior officer

Agent

5 Any other (Specify) ________________

(b) How many visits did you make to the office before receiving the claim?
1-2 visits

3-5 visits

More than 5 visits

PART- VII (Only for LIC policy holders)


If you are a LIC policy holder for more than 9 years, then please tick at the appropriate response
stating your opinion on the following:

Highly

Improved Remained Deteriorated Badly

Improved

Improvement in the over all working of your


company

Improvement in product quality offered by


your company?

Improvement in the behaviour and efficiency


of employees/agents

Pricing of policies

Improvement in the overall ambience and


infrastructure

Formalities required to get a life insurance


policy

Flexibility and need based suitability of the


products offered

Same

Deteriorated

Level of information being provided by the


employees/agents to the customers

Effectiveness of the various promotional


activities in arriving at the final decision

10

Change in time taken to settle a claim

11

Formalities required to settle a claim

(l) Any other impact of privatization on your company (Please specify)


________________________________________________________________________________________
________________________________________________________________________________________
______________________________________________________________________
Any other suggestion:
________________________________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________
_________________________________________________________________
(Thanks for your cooperation)

Questionnaire for Agents


Personal Information:
1. Name:
2. Age:
3. Regular / Part Time:
4. Name of Company:
5. Income from selling insurance:
i. Less than
iii

5,000

10,000

15,000

ii.

5,000-

10,000

iv.

15,000 and more

6. Why did you choose this company to work as an agent?


i.

Your personal relations with the Manager

ii.

Policies of the company

iii.

More financial support


sup
as compared to other companies

iv.

Any other reason

Please specify your level of satisfaction or dissatisfaction regarding the following statements:
Highly Satisfied Neutral Dissatisfied Highly
Satisfied
Dissatisfied

Use of modern equipments and support latest


technology by your company.
The physical infrastructure of your company.
Financial training/ updates from your company.
Materials provided to you regarding the products
and services provided by your company.
Behavior of the staff of your company.
Financial support from your company.
Promotion policy offered by your company.
Training provided by your company
Range of policies and products.
Formalities and time taken to issue a policy.
Paper work associated with selling and
maintaining a policy.
Information provided to you regarding new
products, policies and changed regulations
introduced by regulator.
Process of underwriting policies.
Highly Satisfied
Satisfied

Neutral Dissatisfied Highly


Dissatisfied

Pricing of the products and services vis--vis


competitors.
Clarity and transparency of terms and conditions
specified in the policy at the time of issuance.
Procedure for renewal of policy.
Use of ethic based policies.
Conduct of periodic consumer need based
awareness programs to have greater
understanding with the customers
Direct support from your company to retain old
customers.
Please answer the following:
Upto Large Upto Some Rarely
Extent
Extent

Never

Cant
Say

Do you use modern communication tools to


effectively reach the customers?
Do you undertake the financial planning of the
customer?
Do you tell the customer about the positive and
negative points of a product vis--vis the other
products?
Do you receive complaints and criticisms from
customers and responds to them positively
Do you give prompt services to customers and
tell customers about the exact time frame in
which services will be performed.
Do you give precise and detailed representation
of products before selling them?
Do you give individual attention to customers?
Do you adjust the operating hours so that they are
convenient to the customers?
1. Rate the overall service quality of your company vis--vis other companies.
Very High

High

Average

Low

Very Low

2. Do you need your company to introduce new and competitive products?


Yes

No

Cant Say

3. Do you want any change or simplification in the procedures adopted by your


company regarding training?
Yes

No

Cant Say

4. Do you want any change or simplification in the procedures adopted by your


company regarding procedures adopted for issuance of policies to customers?

Yes

No

Cant Say

5. Do you want your company to change the present promotional policies? Yes

No

6. If Yes Please specify _______ ______________________________________

7. Which of these modern technology features do you want your company to


introduce for interacting with the customers and the company?
Mobile alerts

e-mail

Electronic Illustrations

Internet
Any other (please specify) __________

7. How often does your Manager accompany you on sales calls?


Rarely

Sometimes

Often

Very often

Always

8. Does your manager impress upon you to sell a particular type product or policy?
Rarely

Sometimes

Often

Very often

Always

9. What percentage of your sales call includes your natural market (friends, relatives,
acquaintances etc.)?
< 25%

25%-50%

50%-75%

>75%

10. What percentage of your sales call includes open market (persons not known to you
directly/referrals)

<25%

25%-50%

50%-75%

>75%

11. Does your manager inform you about prospective buyers (sales lead)?
Rarely

Sometimes

Often

Very often

Always

Yes

No

12. Are you aware of the role of ombudsman?

13. Have you suggested any of your customers to use the services of ombudsman?
Rarely

Sometimes

Often

Very often

Always

14. Are you and your customer satisfied by the time taken by the ombudsman to solve the
problem?
Highly Satisfied

Satisfied

Dissatisfied

Highly Dissatisfied

Neutral

15. Are you and your customer satisfied by the solution given by the ombudsman to solve the
problem?
Highly Satisfied

Satisfied

Dissatisfied

Highly Dissatisfied

Neutral

16. Any other information or experience you wish to share, Please specify.
_________________________________________________________________________
_______________________________________________________________
(Thanks for your cooperation)