Relational benefits and customer satisfaction – a South African short-term insurance industry perspective
MetadataShow full item record
South African short-term insurers struggle to maintain and grow market share due to industry competitiveness and decreasing customer retention rates. One way of retaining customers is to establish and maintain long-term relationships with them. For relationships to last, customers should derive benefits from these relationships. It is furthermore professed that the relational benefits that customers gain from customer-business relationships positively impact customer satisfaction, which in turn enhances the quality of these relationships. This paper aims to determine whether relational benefits (confidence, social and special treatment benefits) predict customer satisfaction in the South African short-term insurance industry. Research focussing on customer relational benefits is limited, and such research has not been conducted within this industry or context. A quantitative, descriptive research design was undertaken and convenience sampling was used to select respondents. Data was collected by means of self-administered surveys from short-term insurance policy holders residing in Gauteng, South Africa. The results indicate that confidence benefits best predict customer satisfaction, followed by social and special treatment benefits. It is therefore recommended that, in order to improve customer satisfaction and maintain long-term relationships with customers, short-term insurers adapt their product and service offerings to include confidence, social and special benefits to customers.
Showing items related by title, author, creator and subject.
Olivier, M.P.; Govindjee, A. (2015)The contribution critically reflects on the proposed amendments to the Unemployment Insurance Act 63 of 2001 (the UIA / the Act), introduced via the provisions of the Unemployment Insurance Amendment Bill of 2015 (B25-2015). ...
Comparative cost-benefit analysis of renewable energy resources for rural community development in Nigeria Ogunlade, Abimbola Adegoke (North-West University, 2008)Rural development by means of providing uninterruptible power supply has become a priority among developing countries. Nigeria especially has on its top agenda the mandate to provide clean and cost-effective means of energy ...
Van den Berg, Aletjé (North-West University (South Africa) , Potchefstroom Campus, 2016)When the tax treatment of pension and provident funds before and after the implementation of the Taxation Laws Amendment Act 25 of 2016 is compared, the positive effect of this Act on retirement planning becomes clear. The ...