IJFANS International Journal of Food and Nutritional Sciences

ISSN PRINT 2319 1775 Online 2320-7876

A STUDY ON SATISFACTION OF DEVELOPMENT OFFICERS IN LIC OF INDIA

Main Article Content

Dr.R.Paulmoni,Dr. N. Vinil Kumar

Abstract

Life Insurance Corporation is a public sector company. The motto of the company is “Yogakshemam Vahamyaham: which means – “Your Welfare is our Responsibility”. It is governed by the LIC Act 1956. The Development Officers help the corporation for its smooth functioning. They are the employees of the corporation. The important duty of a development officer is locating markets for life insurance business. The marketing of the products of the LIC of India depends on the agents and development officers. Their work commences from the identification of prospects and ends with closure of sale. The sales potentiality of an agent and development officer is determined by some external and internal factors. He has to improvise a lot and find his own style of operation, draft his own plans, devise his own strategies for the development of insurance business. This study is focus on the satisfaction of Development Officers in LIC of India. The objective formulated are to study the contribution of Development Officers; to study the Methods suggested by the respondents to their team to attract new Customer adopted by Development Officers and to compare the demographic variables with the level of satisfaction of the selected respondents. For this, the researcher selected 50 development officers and used Percentage and Chi-square test for analysing the data. The researcher also compared the socio economic factors with the Level of satisfaction and concluded that the Null Hypotheses were accepted in all. One of the suggestions for the growth and development of insurance sector is to appoint more female Development Officers and in turn they promote more female agents in order-to motivate the female policyholders. The other one is Development Officers will help their agents to overcome the hurdles in the insurance business with their experiences and to achieve the targets.

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