Title: Customer relationship management as a correlate of organisational performance in the Nigerian insurance industry

Authors: Folake F. Olowokudejo; A.O. Fagbemi

Addresses: Department of Actuarial Science and Insurance, Faculty of Business Administration, University of Lagos, P.O. Box 184, Akoka, Yaba, Lagos, Nigeria. ' Department of Business and Human Resource Management, School of Management Science, National Open University of Nigeria, Victoria Island, Lagos, P.O. Box 3896, Festac Town, Lagos, Nigeria

Abstract: This study aims to find out if there is any relationship between customer relationship management and organisational performance in the Nigerian insurance industry. Relevant literature was reviewed and a model was conceptualised and tested by means of empirical data collected through a questionnaire survey. The findings confirm that there is a positive relationship between customer relationship management and organisational performance. It was also found that companies image and branch network intervene in the relationship between CRM and organisational performance. The study made significant contribution to knowledge by identifying the CRM variables that enhance organisational performance. The study recommended that insurance companies should improve on their CRM practices in order to enhance organisational performance. It is also recommended that a stakeholder's forum should be organised regularly in order to bridge the communication gap between the staff and customers so that their perceptions can be synchronised.

Keywords: customer perception; customers; staff; correlation; survey; customer relationship management; CRM; organisational performance; insurance industry; organisational characteristics; Nigeria; stakeholder forum.

DOI: 10.1504/IJBCG.2012.049790

International Journal of Business Competition and Growth, 2012 Vol.2 No.4, pp.324 - 340

Available online: 15 Oct 2012 *

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