Title:
RELATIONSHIP MANAGEMENT ON CUSTOMER SATISFACTION IN SOME SELECTED INSURANCE COMPANIES IN NIGERIA

Authors:
Bitrus Fulani Kwajaffa

Abstract:
Customer relationship management measures adopted by various insurance companies such as shared values, trust, and communication aimed at influencing consumer’s interests are still not satisfied with the activities of the insurance companies. This study, therefore, tries to investigate the impact of relationship management on consumer satisfaction using the survey research design method and KruskalWallis as the statistical tool for testing the hypothesis. Structured questionnaires were administered to 277 customers of the insurance companies to generate data for the study. Findings from the study revealed that trust has a significant impact on customer satisfaction with insurance services. Communication was found to have no significant impact on customer satisfaction with insurance services. Shared value was also found to have a positive and significant impact on customer satisfaction with insurance services. Based on these findings, the study recommends that insurance companies should enhance the process and procedures of communicating directly with their customers which can foster relationship management and customer satisfaction. This would help sustain the trust customers have in the services of insurance companies. In order to enhance customer satisfaction and decrease customer loss, companies should focus on sustaining effective communication that aims to seek, gather and store the right information, validate, and share it with its entire organization in order to create a unique experience and deliver quality services. There is a need for organizations especially insurance companies to have a sustainable and effective shared value service with their customers so as to sustain their satisfaction with the company’s services and obtain a competitive advantage over their competitors.

Keywords:
Communication, customer satisfaction, customer relationship management, shared value, trust