Quality Life Insurance Service of Jiban Bima Corporation (JBC) of Bangladesh: An Empirical Study

The purpose of this paper is to assess customers’ general expectation and perception of insurers in terms of services offered at the insurance service counter (ISC). Besides, this paper also examines the relationship between the demographic factors and SERVQUAL mean score. The study utilized the survey approach. The result shows huge gap for tangible, reliability and responsiveness and shows highest gap between customers’ perception and expectation. This result demonstrates tangible as the most critical determinant of SERVQUAL measure for service quality. The other dimensions (assurance and empathy) also appear important but tangible dominates. Thus, results of this study underscore the need for insurance providers to gear customer services and quality improvement efforts towards components of tangible. The study intends to promote a better theoretical understanding and recognition of the complexities to service quality and its measurement. The challenge for insurance sector in Bangladesh remains the same that is to bring innovative solutions to client while making them realize the value of those services provided. When clients realize that quality is something that cannot be compromised, an organization has to survive in the competitive market managing high value service. Keywords: Service quality, Life Insurance, Customers’ expectation and perception, Customer satisfactio