Date of Conferral
Doctor of Business Administration (D.B.A.)
Carol A. Faint
The cost of creating new property and casualty insurance accounts is much greater than the costs associated with sustaining current accounts. Property and casualty insurance agency managers lack strategies to retain customers, the retention of whom has been found to improve revenue. The purpose of this qualitative case study was to explore strategies for insurance agency managers to retain customers and improve revenue. The population used for the study was 4 insurance agency managers in the Northeastern United States. The conceptual framework was customer relationship management, which is a technological and organizational mechanism for buffering market instability by understanding customer concerns. Three data collection methods were used: semistructured interviews, documentation review, and review of physical artifacts. The approach to data analysis was general inductive to allow codes to emerge from the raw data, one with qualitative software used to condense raw data into key themes. Five themes emerged in the study: customer relationship management, employee communication, customer satisfaction, influence of strategic planning, and competition. The study may contribute to social change by offering guidance to property and casualty insurance agency managers on business sustainability, which may result in improvements to the local economy through the provision of sustainable jobs to community members, increases in employee retention, and the offering of reliable services to customers.