Effect of Customer Relationship Management Systems on Customer Retention in Life Insurance Companies in Kenya (A Case Study of British American Insurance Company (k) ltd)

摘要

Successful customer retention starts with the first contact an organization has with a customerudand continues throughout the entire lifetime of the relationship. A company's ability to attractudand retain new customers, is not only related to its product or services, but strongly related to theudway it services its existing customers and the reputation it creates within and across the 1marketplace. This study therefore sought to investigate the application of customer relationshipudmanagement on customer retention in British-American Insurance as a case study of lifeudinsurance companies in Kenya. The study also sought to establish the relationship betweenudcommunication, customer segmentation and feedback management on customer retention inudBritish-American Insurance. This study used a descriptive research design. The target populationudin this study was 300 employees working in all the 11 departments in British-AmericanudInsurance. The sample size for this study was therefore 44 respondents. A questionnaire wasudused to collect the primary data. The data from the field was first coded according to the themesudresearched on the study. Analysis was done with aid ofthe statistical package for social sciencesud(SPSS) package. Descriptive statistics such as percentages, mean scores and frequencies wasudused for analysis. The results of quantitative data were presented in charts and tables. The studyudestablished that feedback management influences customer retention at British AmericanudInsurance Companies (k) Limited most followed by customer segmentation and communication.udThe study also found that communication helps to identify, establish, maintain and enhanceudcustomer-organization at a profit while meeting the objectives of both parties. In addition,udperceptions of the brands are mainly influenced by the speed, reliability, ease of use and quality.udThis study recommends that the company should increase its contact with customers so as toudincrease customers' retention.