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AIA Insurance Lank A Case Study

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Insurance is a risk transfer method in which the insured transfers the cost of potential losses to another entity for a monetary payment. Also insurance is an economic device whereby an individual pays a small amount (the premium) compared to the total value at risk and transfers some of the uncertainty leading to financial losses.
The history of life insurance dates back to 3000 BC. Learned scholars are of the view that the expression ‘Yogakshemam’ found in the Rig Veda refers to a sort of social welfare insurance; the ancient Aryans seem to have developed such a concept. Edwin W Kopf in his treatise – ‘Origin, Development and Practices of Livestock Insurance’ credits India with being the mother of insurance practices, and opines that the development started in India and after that spread to ancient Babylon. He refers to the Bridari system of India as the most ancient organization formed for the mutual help of the members during the contingencies of daily life.
Insurance began as a method of reducing the risk of traders, as early as 5000 BC in …show more content…

Several studies have found that the service quality can positively affect to the customer satisfaction. Therefore it is important to assess the relationship between service quality factors and Satisfaction of Existing Customers In AIA Insurance Lanka PLC(Life)in order to improve the service and performance to provide customers a unique and satisfactory experience better than competitive service providers. So the study will help to existing services to improve the service quality and new market entrants to the market to attract and retain satisfied customers within the insurance industry. Because of unsatisfied existing customers of insurance companies, the company faces to a big problem. It is the lapsation, bad spreading & etc.Lapsation refers to the situation when the customer fails to pay the premium on

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