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Epetimehin, Festus M.
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Civil Engineering, Building, Construction & Architecture Economics, Econometrics & Finance Materials Science & Nanotechnology

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The Impact of Relationship Marketing on the Performance of Insurance Organisation Epetimehin, Festus M.
Mediterranean Journal of Social Sciences Vol. 2 No. 2 (2011): May 2011
Publisher : Richtmann Publishing

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Abstract

Marketing is the life wire of any insurance. Insurance without a good marketing team and strategies is bound to fail. In orderto be relevant and be seen as being relevant to their customers, insurance have to innovate new strategies and install the art of technologythat will make life easy for customers and themselves. Customer Relationship Management Service is a marketing strategy that ensuresthe acquisition and retention of most profitable customers using the most effective method. The aim of this paper is to examine ifrelationship marketing practices as a new philosophy has been rightly adopted in the insurance industry. The study is based on theinformation gathered and collected from both primary and secondary sources. The sample for the study is made from selected insurancecompanies 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 ofinsurance and increasing customers’ satisfaction through service quality. Therefore, the continued existence of any insurance will depend onits ability to maintain good relationship with customers and provision of quality service
Global Economic Meltdown and the Performance of Insurance Industry: Implication for Career Opportunities Epetimehin, Festus M.
Mediterranean Journal of Social Sciences Vol. 2 No. 3 (2011): September 2011
Publisher : Richtmann Publishing

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Abstract

The economic and financial crisis, which started in the United States in September 2008, has rattled markets and economiesdeveloped, developing and underdeveloped around the globe, and because the world is linked inextricably by globalization the crisis hascontinued to dominate discussions on global economy. Many countries are experiencing severe closure of companies, loss of jobs, crash ofshare prices, squeeze in consumer credit facilities, crumbling mortgage facilities among others. In the case of the developing countries ofwhich Nigeria is one, the implications are noticeable in the areas of crash in share prices, dwindling revenues, few direct investments fromdeveloped countries, dwindling remittances from Nigerians abroad and possible erosion of foreign resources among others. This papertherefore provides a clarification of the term Global Economic Meltdown, the causes and the performance of the insurance Industry underthis situation and the implication for career opportunities.
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