The relationship between customer focused service and customer satisfaction in the Nigerian insurance industry (original) (raw)
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EFFECTS OF SERVICE QUALITY ON CUSTOMER SATISFACTION IN THE NIGERIA INSURANCE INDUSTRY
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In order to acquire a strategic competitive advantage, service quality has been accepted as a strategy for differentiation and value addition to service offerings. However, providing high-quality, cost-effective services is not a simple feat in the insurance industry. As a result, the impact of service quality on customer satisfaction of selected insurance firms in Akure metropolis, in the SouthWestern Nigeria was investigated in this study. The study employed the survey and correlation research designs. The population of the study consisted of customers of insurance firms in the Akure Metropolis. A random sample size of one hundred (100) participants was taken from the entire population. The four-scale likert-type questionnaire was used as an instrument to elicit responses from the respondents. The study applied the Partial Least Square Structural Equation Modeling (PLS-SEM) technique using Smart PLS-3. The research found that service quality (responsiveness and tangibility) has significant positive effect on customers' satisfaction. The dimensions of assurance, reliability and empathy indicate that they had insignificant impact on customers' satisfaction. The study is the first to examine and critique on how quality service factors serve as the drivers of customers' satisfaction among insurance firms with value addition in the empirical analysis and results through the Partial Least Square Structural Equation Modeling (PLS-SEM) technique using Smart PLS-3 which is a departure from previous studies carried out in other climes. The study's findings are value relevant to managers, practitioners, policy makers in insurance companies/industry and future researchers.
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Impact of Customers Prior Experience on Nigerian Customer Loyalty to Insurance Services
Zenodo (CERN European Organization for Nuclear Research), 2022
The report emphasized the part and the significance of client fulfillment anddevotion. Clients are the connection to a trade victory. A commerce organization ought to center on a tremendous number of clients, for this client fulfillment and devotion ought to be consolidated along the long-term objectives. This proposition was actualized to an analyzing the relationship between client fulfillment and client relationship. The objective of this inquire about is to ponder the concept of client fulfillment, client dependability and its relationship. Additionally, this proposal ponders the variables that impact client fulfillment and loyalty. Using the Nigerian insurance companies as a point of this research helps understands more on the customers loyalty based on prior experience and as well as the impact. This proposition too analyzes the variables that have effect on client fulfillment and result in client loyalty. In this thesis, the theoretical background chapter reviews studies on customer satisfaction and customer loyalty and the relationship of these two based on prior experiences and reasons to why the aim of any company shouldn't just be focused on recruiting new customers but maintaining the old ones. Various methods that have been widely used to measure customer satisfaction and the outcome results of having loyal customers are presented. In conclusion, this research is to understand and have more knowledge on the impact of customer prior experience on Nigerian customer loyalty to insurance services.
The Role of Customer Satisfaction on Customer Retention in the Kenyan Insurance Industry
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This research proposal is to investigate the role of Customer Satisfaction on Customer Retention in the Kenyan Insurance Industry. Customers‟ retention is a valuable asset for an Insurance industry and therefore must be achieved optimally for efficient and effective achievement of stated objectives and for smooth continuation of business. Most of the customer satisfaction attributes to the role of customer expectation, customers loyalty, customers trust and customer commitment in the customer retention in the Kenyan Insurance Industry.Problem overview will be given in chapter one as it tries to address the role of Customer Satisfaction on Customer Retention in the Insurance Industry. This research will basically address some of the issues of Customer Satisfaction that may influence Customer Retention in the Kenyan Insurance Industry. The researcher will also address the statement of the problem which gives the basis of the study, objectives, research questions and the scope of the s...
European Journal of Business and Management, 2015
The aim of this research is to examine the level of customers’ satisfaction and loyalty with respect to the current service being delivered at the target insurance companies. The study examines the level of customer satisfaction through the application of two different customer satisfaction measurements namely; the servqual and overall customers’ satisfaction models. Moreover, the study investigates the significance relationship between the overall customer’s satisfaction and their loyalty. In order to address the aim of the research, both primary and secondary data were collected and employed. Related literatures were reviewed and descriptive research method was employed. The result from the servqual analysis revels that reliability is the most critical dimension followed by responsiveness, assurance, empathy while tangibility is found to be less critical dimension of service quality and customers satisfaction. Moreover, it is found that customers’ satisfaction is significantly and positively related with customers’ loyalty. Keywords: Insurance, service quality, customer satisfaction, loyalty, Adama, Ethiopia.
2018
This research project tries to assess and analyze the impact of service quality on customer satisfaction and customer loyalty in Ethiopian Insurance industry. Further, this study evaluates the relationship among service quality including its dimensions, customer satisfaction, and customer loyalty. For the purpose of the study primary data were collected using five point likert scale based questionnaire that was constructed taking into account all the dimensions of service quality as per the SERVPERF scale such as Tangibles, Reliability, Responsiveness, Assurance, and Empathy. Further, customer's perceptions were used to assess Customer Satisfaction and customer loyalty. A sample of 768 customers was selected using multi stage sampling technique, and 706 customers were responding. And the data was analyzed using descriptive statistics and inferential statistics. The statistical methods of analysis included a descriptive statistics (frequency, mean and standard deviation), factor ...
Customer Satisfaction with Service Delivery in the Life Insurance Industry: An Empirical Study
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Consumers purchase life insurance for financial security during times of hardship. The present research examines the effects of service quality on customer satisfaction with service delivery in the life insurance industry. A quantitative research method is used to achieve the research objective. One hundred completed and usable self-administered surveys were received from respondents located in the Federal Territory of Labuan, Malaysia that have had a life insurance policy with an insurance company in Malaysia. The empirical results of the multiple regression analysis divulge that assurance, tangibility and empathy have a positive and significant relationship with customer satisfaction with service delivery in the life insurance industry. Customers are satisfied with the way the services are delivered. High levels of skill and experience among employees of a life insurance company and the dedication of agents provide customer confidence. Customer satisfaction is strengthened when agents possess outstanding communication skills and the customer is served in a pleasant atmosphere endowed with appealing physical facilities. As a result, customers are given individualized attention because the staffs understand the specific needs of their customers. Suggestions for future research are also proposed.
International Journal of Advance Research in Computer Science and Management Studies [IJARCSMS] ijarcsms.com
The aim of this study was to investigate the relationship between service quality and customers' satisfaction and its effect on loyalty with special emphasis of perception and expectation in some selected insurance companies at the Northern district. Data were collected using semi-structured questionnaire. A total of 120 customers were contacted to address the research question. After collecting the data the service quality was measured using four dimensions which were: Access quality, Infrastructure quality, Responsiveness and Competence. Data were analyzed using descriptive analysis like mean, standard deviation and gap analysis. Respondents in the selected branches reported low levels of perceived service quality. However, compared to service quality of EIC, Nyala and Awash insurance reported better perceived service quality. In EIC insurance, Competence and Credibility dimensions are related to loyalty dimensions. In Nyala insurance, Responsiveness dimension is related to loyalty dimension. Finally, in Awash insurance, Responsiveness and Courtesy dimensions are related to loyalty dimensions. The selected insurance company managers should recognize the importance of service quality in service delivery and implement appropriate customer oriented strategies. The managers should recognize the importance of services quality and improve ability to address complaints and provide solutions to customers' problems. Moreover, managers should work to improve the service qualities of their respective insurances to be competitive in the market.
2018
The study mainly intends to explore the effect of determinants of customer perception on the satisfaction of corporate life insurance customers. To evaluate the effect of determinants of customer perception on the satisfaction of corporate life insurance customers Ethiopian Insurance Corporation (EIC) was considered as a case study. This research employed both descriptive and explanatory design. Quantitative and qualitative study was conducted to collect information from primary and secondary sources. For the purpose of this research, structured and standardized questionnaire was conducted to the life insurance customers of EIC. Interview questions were conducted to collect information from EIC Marketing Manager. The collected information was analyzed through statistical software. The main findings of the study are attitude positively and significantly affects customer satisfaction, perceived risk positively and significantly affects customer satisfaction, socio-economic factor posi...