Examining the satisfaction level of insurance policy holders at subsistence marketplaces: the bottom-up approach

In the present times of competitive offerings, customer satisfaction matters a lot even in the subsistence marketplaces. If any manufacturer or service providers think otherwise, then their long-term survival is questionable. As satisfaction leads to a loyal customer base, which in turn, ensures profitable and sustainable long-term survival, the present study aims to examine the satisfaction level of insurance policy holders belonging to subsistence marketplaces in Haryana State of India. Initially a qualitative survey was conducted and the primary data was collected via a structured questionnaire on a five-point Likert scale from 294 respondents. The statistical tools such as percentage, mean, standard deviation and Kruskal Wallis H test are employed to test the hypothesis of the study. The findings reflect that the insurance policy holders at subsistence marketplaces are satisfied with insurance products and related aspects. Further, the overall satisfaction level of insurance policyholders at subsistence marketplaces does not vary significantly across residential status and monthly family saving, whereas it differs significantly across education level and occupation.