Effect Of Relationship Management On Customer Satisfaction: A Study Of Some Selected Nigeria Insurance Firms In Fct, Abuja

Authors: Osanaiye Juliana Idowu; Barnabas, E. Barde Ph.D
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Despite several relationship management measures adopted by various insurance firms such as shared values, communication and trust aimed at influencing consumer interests, they are still not satisfied with the activities of the insurance firms. The study thus investigates the effect of relationship management (RM) on customer satisfaction using survey research design and Kruskal-Wallis (KW) statistical tool. Structured questionnaires were administered to the 276 customers to generate data meant for the empirical analysis. Findings from the study revealed that trust has a significant effect on customer satisfaction of insurance services. In addition, communication was found to have a significant influence on customer satisfaction with insurance services. Lastly, shared value was found to have a positive and significant effect on customer satisfaction of insurance services. Based on these findings, the study recommends that insurance firms should enhance the process and procedures of communicating directly with the customers which can foster RM and customer satisfaction. This would help sustain the trust customers have with the services of insurance firms. In order to enhance customer satisfaction and decreasing customer loss, the firm should focus on sustaining an effective communication that aim to seek, gather, and store the right information; validated and share it through the entire organization levels; in order to create unique experience and deliver quality services. There is a need for organizations, especially insurance firms, to have a sustainable and effective shared value services with their customers, so as to sustain their satisfaction with the firm’s services and obtain competitive advantage.