Insurance and Actuarial Science Publications

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Insurance and Actuarial Science Publications

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Browsing Insurance and Actuarial Science Publications by Subject "Satisfaction"

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    An Examination of the Impact of Total Quality Management on Customer Satisfaction in the Zimbabwean Insurance Industry
    (IAMURE Multidisciplinary Research, 2017-04) Mazviona, Batsirai Winmore
    The subject of total quality management (TQM) is increasingly becoming topical worldwide, chiefly because of current intensified competition in the financial markets. Consumer satisfaction is an important determining factor in a company’s success. Quality frameworks and programs should be dynamic to meet the ever changing customer expectations and preferences. The Zimbabwe insurance industry has been labeled as poor and delivering poor services to the insured. Furthermore, insurance policyholders have raised concerns and complaints about the sub-standard services that they are getting from their insurers. Thus the research was aimed at investigating TQM’s impact on customer satisfaction in the insurance industry. Data and information necessary in the achieving of the research objectives involved the use of mainly primary data through the use of questionnaires. The data was gathered in Bulawayo from insurance consumers and insurance companies’ employees. The descriptive research approach was utilized in this study. Chi-square tests were used to examine hypotheses. The fundamental findings from this study are that insuranceconsumers in Zimbabwe are not satisfied with the services they are getting from their insurers. It is concluded that insurers should implement TQM as a holistic approach towards meeting and exceeding customers’ expectations to enhance customer satisfaction.