Exploration of the Factors Influencing Policyholders' Satisfaction with Life Insurance Products: A Study of Pakistani Life Insurance
Life insurance sector in Pakistan has rarely explored customer intention towards life insurance products. Life insurance distribution channels fill the gap of customer uncertainty and pull them towards life insurance products with enhanced productive features. This study aims to investigate the elements affecting Pakistani policyholders' contentment with life insurance products. Further, this research will help insurance companies create strategies to expand and sustain the life insurance industry through their products. For this research, a qualitative methodology has been used. Purposive sampling was used to conduct 10 interviews with participants from Pakistan's insurance industries. The NVivo QSR version 10 software was used to perform this research utilizing a thematic analysis approach. The themes generated after transcribing the interviews are customer awareness through distribution channels, Variety of Product line and quality in retail distribution, Distinguish approach of Takaful products. Customers have distinct ideas about the products or services they have purchased or used. Life insurance professionals in Pakistan came up with the ideas to improve the life insurance pool and maintain the long-term viability of the industry. When potential policyholders choose a certain policy from an insurance company, they value inexpensive premiums, the firm's services quality, insurance agents, their faith in the company, and the use of technology in the service delivery system.
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