Life Insurance Consumer Psychographics and Its Relationship with Satisfaction Mr. Srivastava Mukesh Assistant Professor (G-II), Amity Business School, Amity University, Lucknow Campus, Lucknow Online published on 22 June, 2018. Abstract Background With the liberalization and internationalization in Life insurance, Consumer satisfaction has become an important means of differentiation and path to achieve business success. Such differentiation based on Consumer satisfaction can be a key source of competitiveness for insurance companies and hence have implication for leadership in such organizations. Various studies have been done earlier in the various industries in service sector but this time we are going to emphasize this fact in the life insurance industry. Aims Consumer Psychographics has become a feature of great importance as it has an impact on consumer satisfaction. It is according to a Lehmann consideration but it should be statistically proved which we are going to provide evidence in this research paper. This research Paper also aims at proving list of the impact factors and their preferences in which they are having importance for the life insurance managers in the industry. Methodology The Research paper focused on finding out the relationship between consumer psychographics and consumer satisfaction in Life Insurance Industry. The K-S Test, Multiple Regression Analysis method were used to analyze the data and interpretation was given on that basis. Results/Findings Multiple regression model met the assumptions required to ensure validity of its significance test. This indicates that there was a statistically significant relationship between psychographic factors and customer satisfaction. Conclusion Most consumers form expectations of the product, life insurance provider, service, and quality of the product that they patronize before engaging in life insurance product shopping activities. These expectations influence their attitudes and intentions to purchase a life insurance product through a certain agent of Life Insurance Company and consequently their decision-making processes, purchasing behavior and loyalty as well. Top Keywords Consumer Psychographics, Consumer satisfaction, Life Insurance Industry. Top |