Importance of SERVQUAL dimensions in leveraging service quality in insurance industry from the perspective of different cultural and socioeconomic environment - a SEM approach

The SERVQUAL model was developed by Parasuraman et al. (1988), who have identified five SERVQUAL dimensions (SDs) with 22 statements (predictor variables) and discussed its importance in driving the service quality of the service industry in satisfying consumers' expectations. In this study, 24 variables (statements) were structured based on the above SERVQUAL model. These 24 statements were grouped into six dimensions after confirmatory factor analysis. An analysis was done to evaluate the significance of these SDs through the perceptions of a few profile factors, namely, age, occupation, time of maturity of policy, and residential status. It was understood from the results of the analysis, that all these six SDs were found to be statistically significant and had very close association with service quality (SQ). The correlation analysis also confirmed the inter correlation of these SDS with one another in driving towards SQ.