Analyzing the Impact of Service Quality, Technology, and Policy Management on Insurance Policy Renewal

Abstract

This research aims for a better understanding of the relationship between service quality, policy features, and customer satisfaction and the decision to renew a policy in Saudi Arabia. Factors affecting the renewal behavior include claims processing, policy flexibility, customer support, and technology development. In the research, questionnaires will be distributed to a randomly selected sample of insurance policyholders in Saudi Arabia. The responses thus collected will be consolidated and then analyzed through description by using SPSS statistical software. The results draw attention that Technology and Policy Management influence the product and service quality positively and significantly, with coefficients of 0.189 and 0.331. Policy flexibility and applicability also exert a positive effect on quality with a coefficient of 0.077. Procedures and Speed show a weak influence, marginally significant at a coefficient of 0.050. This research provides significant insights into service quality, policy flexibility, and demographic factors' influence on insurance policy renewal decisions in Saudi Arabia by emphasizing critical elements that could enhance customer retention within this industry.