Information technology is crucial for a communication based process. Therefore, this study presents an investigation of the significant role of information technology in customer service delivery and firm performance in selected insurance companies in Nigeria. Specifically, three hypotheses were tested. They are to determine whether: (i) customers are not aware of the availability of IT facilities in their dealings with the Nigerian insurance companies; (ii) the use of IT does not enhance the performance efficiency of insurance organizations in Nigeria; and (iii) providing quality customer service delivery will not enhance organizational performance of insurance companies. The survey research design for the study was a cross examination. The study sample consisted of 112 participants made up of IT managers, marketing managers, and underwriting managers drawn from 25 insurance companies which were randomly selected from the directory of member companies. One-sample T-test and simple frequency percentage tables were used for data analysis. The study revealed that most customers hardly use online services in their engagement with the Nigerian insurance companies even with the level of awareness created which depicts a low level business relationship. Thus, many of the insurance organizations indicated that they experienced high performance efficiency in their investment in and adoption of information technology. This study recommends that insurance administrators and regulators at all levels should gather relevant information as regards factors that may assist in contributing meaningfully to the usefulness of IT in effective service delivery. They should also undertake optimal investment in IT, provide quality service delivery to customers and regularly evaluate IT usage in every department of insurance organizations in Nigeria in order to take appropriate strategic decisions capable of enhancing firm performance.
Marketing in the banking industry has witnessed a paradigm shift in orientations from transaction marketing to relationship marketing. Today, banks are working in extremely competitive and rapidly dynamic work environment which has necessitated the focus on responding to customers’ needs satisfactorily. This study examined the effect of customer relationship marketing on customer satisfaction of the Nigerian banking industry, with reference to First Bank of Nigeria. The study adopted a descriptive survey research design and a well organized structured 5 Point likert scale questionnaire was distributed among two hundred (200) selected customers of First Bank of Nigeria using accidental sampling technique. The result of the study using regression analysis show that customer relationship marketing has significant effect on customer satisfaction since 84.6% of variance recorded in customer satisfaction is traceable to the practice of customer relationship marketing (R2 = 0.846, p < 0.05).The study also discovered that trust, commitment and communication have positive effects on customer satisfaction. Based on these findings, the study therefore recommended that there is a need for banks to develop a good customer relationship with their customers by periodically training employees on building enduring customer relationship.
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