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

Abstract

Customer relationship management measures adopted by various insurance companies such as shared values, trust and communication aimed at influencing consumer’s interest are still not satisfied with the activities of the insurance companies. This study therefore try to investigate the impact of relationship management on consumer satisfaction using survey research design method and KruskalWallis as the statistical tool for testing the hypothesis. A 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 of insurance services. Communication was found to have no significant impact on customer satisfaction of insurance service. Shared value was also found to have a positive and significant impact on customer satisfaction of 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 with the services of insurance companies. In order to enhance customer satisfaction and decreasing customer loss, the companies should focus on sustaining an effective communication that aim to seek, gather and store the right information, validate and share it to its entire organization in order to create unique experience and deliver quality services. There is the need for organizations especially insurance companies to have a sustainable and effective shared value services with their customers so as to sustain their satisfaction with the company’s services and obtain competitive advantage over their competitors.