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Description
Indian insurance industry is going through a boom phase and the general insurance industry is poised for a higher growth. The service delivery standards are improving. The article analyses the current and future standards of the services. Indian insurance industry has suddenly witnessed a major boom. Being a globalized market, the customers seek and demands world-class products. In global market everything is bench-marked and compared. The market for insurance business is found vast, the potential policyholders are in a very good number, and their needs and requirements are not identical.
The market share of general insurance business is comparatively poorer than life insurance business. But the potential market opportunities are much wider for general insurance. Free markets and globalization have increased competition. In the changed scenario, general insurance business has to reengineer its approaches and strategies on quality basis. So, the study on general insurance business with reference to quality becomes more important. This quality-based strategy called as `service sigma' for process improvement is essential.
Keywords
Quality of Service in Non-life Insurance, insurance business, insurance Chronicle, general insurance, Indian insurance industry, approaches strategies, important Insurance, quality-based strategy, essential insurance, current future