Assessment of Factors Affecting Satisfaction of Motor Insurance Customers: In Selected Insurance Companies, Addis Ababa
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Date
2018-06
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Addis Ababa University
Abstract
The objective of the study was to empirically assess factors affecting motor insurance customers
satisfaction of insurance companies in Addis Ababa. The research is to analyze weather service
quality, awareness of contract, amount of premium, timeframe of compensation, ways of
compensation, location of branches and networked / technology based service significantly affect
motor insurance customers satisfaction of insurance companies. In the research model, motor
insurance customers satisfaction is dependent variable and others are independent variables. The
data collected from 6 sample insurance companies which exist in different level of market share.
Both stratified and convenient sampling methods were used to select respondents. Primary and
secondary data were collected. Primary data were collected from 380 respondents through
questioner and source of secondary data were different articles, NBE reports and internet. The
collected data were analyzed using a descriptive statistics, Spearman’s rank correlation and
regression analysis. The description of the outputs using SPSS software version 20 and the result
showed that service quality, awareness of contract, ways of compensation, location of branches and
networked / technology based service have positive significant effect on motor insurance customers
satisfaction whereas amount of premium and timeframe of compensation have negative significant
effect on motor insurance customers satisfaction of insurance companies in Addis Ababa. Therefore,
study suggested that management of the insurance companies should put effective measures to
improve their service quality, to create awareness among customers, to minimize timeframe of
compensation, to adjust rate of premium, to keep interest of customers in terms of methods of
compensation, to extend their branches and districts and to provide networked and technology based
service in order to enhance their motor insurance customers satisfaction.
Description
A Thesis Submitted To The College Of Business And Economics Of Addis Abeba University In Partial Fulfillment Of The Requirement For Degree Of Master In Business Administration
Keywords
Motor Insurance, Insurance Companies