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Innovating Insurance Services: Enhancing Perceived Value and Customer Satisfaction through Service Innovation

Author

Listed:
  • Saurabh Singh

    (School of Management, IMS Unison University, Dehradun, Uttarakhand)

  • Imran Ahmad

    (School of Management, IMS Unison University, Dehradun, Uttarakhand)

Abstract

This study examines the correlations among service innovation, perceived value, and customer satisfaction among insurance policyholders in Lucknow, India. The research uses a dataset of 400 policyholders from different age groups and applies Ordinary Least Squares (OLS) regression to examine how service innovation and perceived value affect customer satisfaction. The results illuminate the importance of service innovation in augmenting perceived value and eventually stimulating consumer happiness within the insurance sector.

Suggested Citation

  • Saurabh Singh & Imran Ahmad, 2025. "Innovating Insurance Services: Enhancing Perceived Value and Customer Satisfaction through Service Innovation," Acta Universitatis Bohemiae Meridionalis, University of South Bohemia in Ceske Budejovice, Faculty of Economics, vol. 28(1), pages 55-71.
    • Handle: RePEc:boh:actaub:v:28:y:2025:i:1:p:55-71
    DOI: 10.32725/acta.2025.004
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    More about this item

    Keywords

    Service Innovation; Perceived Value; Customer Satisfaction; Insurance Services. Policyholders;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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