Customer Satisfaction and Loyalty Assessing; the Moderating Role of Switching Costs in the Insurance Industry

dc.contributor.authorSekyere, A.K
dc.date.accessioned2016-11-08T17:05:55Z
dc.date.accessioned2017-10-14T01:11:33Z
dc.date.available2016-11-08T17:05:55Z
dc.date.available2017-10-14T01:11:33Z
dc.date.issued2015-07
dc.description.abstractThe number of players in the insurance industry in Ghana continues to growth. This is of concern to insurance companies in today‟s competitive market environment as it forces them to improve upon their offerings to retain their existing customers, as well as to acquire new ones. However, very few empirical studies have been conducted in the insurance industry to affirm the antecedents of customer satisfaction and its effect on loyalty. This study reports on the antecedents of customer satisfaction and loyalty, by moderating switching costs. An extensive review of literature was conducted to ascertain the variables and their measuring scales. The study used the social exchange theory to assess the satisfactory exchanges existing between insurance companies and policy-holders. Customer responses were collected through the personal administration of 420 questionnaires to policy-holders within the life insurance industry. The responses were analysed through the use of descriptive statistics, correlation and regression techniques. The study found both core service quality, tangibles and relationship quality to have a positive relationship with customer satisfaction. Similarly, customer satisfaction was found to have a positive and strong association with loyalty. Subsequently, the significant effect of high switching costs was established, which influenced satisfied customers to remain loyalty in the life insurance industry of Ghana. In effect, customer satisfaction is a vital tool for businesses. However over-concentration on customer satisfaction may not be enough to influence loyalty. Businesses should consider the relative importance of switching costs in influencing customer loyalty in the life insurance industry.en_US
dc.identifier.urihttp://197.255.68.203/handle/123456789/8907
dc.language.isoenen_US
dc.publisherUniversity of Ghanaen_US
dc.subjectCUSTOMER SATISFACTIONen_US
dc.subjectLOYALTYen_US
dc.subjectASSESSINGen_US
dc.subjectMODERATING ROLEen_US
dc.subjectSWITCHING COSTSen_US
dc.subjectINSURANCE INDUSTRYen_US
dc.titleCustomer Satisfaction and Loyalty Assessing; the Moderating Role of Switching Costs in the Insurance Industryen_US
dc.typeThesisen_US

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