A Study on Consumer Protection in PACL with Special Reference to Insurance in Cuddalore District

Abstract

This study primarily reveals about the consumer protection in insurance sector with reference to the leading corporate agency (PACL Insurance Service Limited) of Max New York Life Company Limited. The major objectives of this study are: Transparency and Understandability of information provided by PACL, the Claims Procedure of PACL, To examine the Service Offered and product sales of PACL. The major findings of this research study are: most of the respondents are, about PACL by their friends / relatives,  have launched complaint regarding shortage in services, having Annual Income below one lakh. The major suggestions of this research study are: terms of condition must be in understandable way. Since, most of the consumers are Agriculture and have their Education upto School level only, must give training to the Agents because most of the customer said that they found shortages regarding improper guidance of Agent. The researcher found that overall consumer protection was satisfied. The company tries it best to offer better service. However further improvements as per suggestions will yield effective results