CUSTOMER PERCEPTION TOWARDS INSURANCES SCHEME

The journey of new India Insurances scheme has stated 17th century England. Insurances are the co– operative device who distribute the loss caused by a particular risk.When any insurances company face any types of mismanagement, they should look for a market for that policy instead of constantly lying to the public or with their clients. Market competition brings decrease in price of the insurances company and increase in the quality but customer play their part according to their views. In the unpredictable society insurances paly a secure part but customers face many other problems. In this paper we will discussed about the problems faced by the customers and also their reasons why many people don’t have faith in the insurances company. The paper is focused on the problems faces by the customer in insurances sector.To go deep in the insurances the important is to understand the scheme of insurances. Insurance firms are summarizing viewed as formation meant to cancel or we can say as to minimize the consequences in adverse of future misfortunes. In fact, insurance companies are risk outcomes underwriters. As we all know we live in the world of unpredictable societies that have an extensive variety of risk trajectories, well we commonly expected that any person at a particular level or point in time can met into unfriendly situations that will enter in endanger any person's life or property, education level, and class. Due to insurances in developed nation many companies and industries do not liquidate or "go under" in such societies. Normally, most people expect that insurance firms will be popular in societies. However, this is not the case, as many insurance businesses face difficult challenges that actually threaten their existences and survivals. This is mostly seen in less developed societies where political and socio – economic systems are yet to form. A. Objectives of study 1.1 To find the customer problem in Insurances companies. 1.2 To examine the customer trust on already exist insurances firm and new insurances firm. B. Research Methodology The research is based on both the data collection i.e. primary data was collected for customer views on insurances firms and secondary data was collected to study the theoretical part of the study. According to which hypothesis are: Ho: To analysis Customer problem in Insurances companies H0: To examine the customer trust on already exist insurances firm and new insurances firm. C. Data Analysis, Customers views and Problem faced by Customer Talking about, if an individual has just started the business of insurance selling, then that particular person must understand that having thick skin is an important thing for a person to survive in the insurances industry. In 21 era's each business changes in some or the other ways and the changes may either be negative or positive. For any industry, there are many problems to be faced. Below Figure – 1 is some of the biggest challenges faced by insurance companies Trust Trust is id the most important factor in any business existences. In fact accounting to the research in Balod, 85% people trust some on existing insurance firms in comparison 15% may trust on the new insurances businesses, because first reason is new insurances companies are operated on a very thin line between failure and success of business. The second reason is no customer wants to take such risks with the little among of money that they have. Due to lack of trust on insurances companies many individuals don`t bother with insurance schemes because many insurance firms fail to pay insurances claims, and they don`t own up to offering some benefits. Thus, most end up seeing insurance as one of their unnecessary expenses. Many of the insurance firms shut down because of financial challenges