Customer’s perception towards Change Management in Insurance sector – A Case Study of LIC of India

After a Decade of privatization in insurance sector in India, Customers of LIC believes that LIC is still in leading position in insurance sector. LIC win the trust of majority of the customers LIC of India doesn’t charge any hidden charges and due to government organization LIC succeeds to provide feeling of security to their customer. A descriptive study is conducted among the customers of the LIC of India from different branches in Bhopal. The objective of this research is to study the perception of customers about the change management (Privatization) and impact of the change management on the services provided by LIC of India to their customers. Chi Square test is applied in this paper to check the authenticity of data given by the respondents. The findings suggests that the change management can be implemented through Planning and Implementation, Decision making, transparency in policies, by creating opportunities for development etc