Impact of Customer Service Officers' Commitment and Insurance Company Performance

Abstract

The insurance industry in Sri Lanka was able to achieve a significant growth in current period. Those are developing financial institutions in the market and which play a vital role in the social and economic development. It will be reducing the uncertainties and improving the financial resources. There are two important channels which are helping the insurance sector for the economic and social development. Those channels are reducing uncertainties and pooling the long term financial resources. Simply insurance means promise of compensation for any potential future losses. Protection against loss for which ou pay a certain sum periodically in exchange for a guarantee that you'll be compensated under stipulated conditions for any specified loss by fire, accident, death, etc. Insurance companies mainly provide the services to their customers. Hence, they highly focus their attention on customer's needs and wants. When customer satisfied with the service of insurance companies they become the loyalty customers of that company. Therefore, customer Relationship Managementis very important to the insurance companies.Customer relationship managementis a widely implemented strategy for managing a company's interactions with customer, clients and sales prospects by establishing separate department and with especially training customer service officers. Customer service officers' commitment is most important especially in the service industry Organizational commitment in the field of organizational behavior. industrial/ Organizational Psychology is in a general sense, the employee's psychological attachment to the organization. It can be contrasted with other work-related attitudes such as job satisfaction, defined as an employee's feelings about their job, and organizational identification, defined as the degree to which an employee experiences a 'sense of oneness' with their organization. Organizational commitment is a multi-dimensional construct that denotes the relative strength of an individual's identification with, involvement in, and loyalty to a particular organization (Allen and Meyer, 2007).Organizational commitment is a significant thing of the employees in every organization in the world because that would be impacted to the organization performance. Therefore the researcher decided to find the customer service officers' commitment and insurance companies' performance. The purpose of this research was to investigate the relationship between customer service officer commitment and insurance companies' performance and to identify the relative contribution of organizational commitment toward insurance companies' performance.