The Impact of Relationship Marketing on the Performance of Insurance Organisation

Abstract

Marketing is the life wire of any insurance. Insurance without a good marketing team and strategies is bound to fail. In order
to be relevant and be seen as being relevant to their customers, insurance have to innovate new strategies and install the art of technology
that will make life easy for customers and themselves. Customer Relationship Management Service is a marketing strategy that ensures
the acquisition and retention of most profitable customers using the most effective method. The aim of this paper is to examine if
relationship marketing practices as a new philosophy has been rightly adopted in the insurance industry. The study is based on the
information gathered and collected from both primary and secondary sources. The sample for the study is made from selected insurance
companies and their customers in Lagos Metropolis. Data analysis for the study was done using frequencies, percentage, and Z-score.
Findings of the study revealed that relationship marketing practices have been playing a dominant role in improving the performance of
insurance and increasing customers’ satisfaction through service quality. Therefore, the continued existence of any insurance will depend on
its ability to maintain good relationship with customers and provision of quality service