Selection Factors of Insurance Companies: The Case of Northern Cyprus

ABSTRACT: In the selection of insurance company, there are many several selection criteria all around the world. It has a crucial importance in North Cyprus as well. In order to address these criteria, there might be some different ways to observe them such as surveys, feedback lists, customer complaints etc. Through taking the results in one of the possible ways, the insurance companies may improve their service qualities regarding to the outcomes. In this thesis, the critical points on selection of an insurance company for Turkish Cypriots have been studied. The 300 experimental surveys have been distributed in North Cyprus to randomly selected people from different occupations, income levels, and genders. However, the results of the surveys have been analyzed merely for different genders. Additionally, the results are examined by using the SERVQUAL instrument. The novelty of this thesis is to investigate the insurance company selection criteria for Turkish Cypriots. The survey outcomes represent that the most important criteria for an insurance company selection are recommendations from relatives/friends, location of the insurance company, the service quality, and the costs of the services. Moreover, the SERVQUAL instrument outcomes showed that empathy is the most crucial dimension, whereas tangible is the least important one for an insurance company selection. Keywords: Insurance Company Selection Criteria, North Cyprus, Customer Demands, SERVQUAL instrument. …………………………………………………………………………………………………………………………