Customer Analysis as a Driver of Financial Performance in the Polish Insurance Industry
Customer Analysis as a Driver of Financial Performance in the Polish Insurance Industry
Author(s): Piotr Zaborek, Przemysław Tomczyk, Tymoteusz DoligalskiSubject(s): Business Economy / Management, Management and complex organizations, Socio-Economic Research
Published by: Społeczna Akademia Nauk
Keywords: customer analysis; customer research; customer lifetime value; financial performance; insurance industry; Poland
Summary/Abstract: The paper outlines the outcomes of an empirical investigation of the links between involvement of insurance firms in customer analysis and their financial performance. The data were collected through a CAWI survey of independent insurance agents in Poland (n=590). Statistical methods included exploratory factor analysis and structural equation modeling. In keeping with the customer lifetime value model and loyalty management theory the concept of customer analysis was operationalized as a second-order reflective construct, expressed through five first order subconstructs. Financial performance was measured with an index of five self-reported metrics. The findings lend support to the hypothesis of a positive association between engaging in customer analysis and financial performance.
Journal: Przedsiębiorczość i Zarządzanie
- Issue Year: 17/2016
- Issue No: 10.2
- Page Range: 101-115
- Page Count: 16
- Language: English
