324 Int. J. Business Competition and Growth, Vol. 2, No. 4, 2012 Copyright © 2012 Inderscience Enterprises Ltd. Customer relationship management as a correlate of organisational performance in the Nigerian insurance industry Folake F. Olowokudejo* Department of Actuarial Science and Insurance, Faculty of Business Administration, University of Lagos, P.O. Box 184, Akoka, Yaba, Lagos, Nigeria Fax: 08062704956 E-mail: kudejomrs@yahoo.com *Corresponding author A.O. Fagbemi Department of Business and Human Resource Management, School of Management Science, National Open University of Nigeria, Victoria Island, Lagos, P.O. Box 3896, Festac Town, Lagos, Nigeria Fax: 08060963172 E-mail: ayodelefag@yahoo.com Abstract: This study aims to find out if there is any relationship between customer relationship management and organisational performance in the Nigerian insurance industry. Relevant literature was reviewed and a model was conceptualised and tested by means of empirical data collected through a questionnaire survey. The findings confirm that there is a positive relationship between customer relationship management and organisational performance. It was also found that companies image and branch network intervene in the relationship between CRM and organisational performance. The study made significant contribution to knowledge by identifying the CRM variables that enhance organisational performance. The study recommended that insurance companies should improve on their CRM practices in order to enhance organisational performance. It is also recommended that a stakeholder’s forum should be organised regularly in order to bridge the communication gap between the staff and customers so that their perceptions can be synchronised. Keywords: customers perception; customers; staff; business competition and growth; correlation; survey; customer relationship management; CRM; organisational performance; insurance industry; organisational characteristics; Nigeria. Reference to this paper should be made as follows: Olowokudejo, F.F. and Fagbemi, A.O. (2012) ‘Customer relationship management as a correlate of organisational performance in the Nigerian insurance industry’, Int. J. Business Competition and Growth, Vol. 2, No. 4, pp.324–340.