Piotr Zaborek | piotr.zaborek@sgh.waw.pl Warsaw School of Economics Przemysław Tomczyk | ptomczyk@kozminski.edu.pl Kozminski University Tymoteusz Doligalski | tdolig@sgh.waw.pl Warsaw School of Economics Customer Analysis as a Driver of Financial Performance in the Polish Insurance Industry Abstract: The paper outlines the outcomes of an empirical investigation of the links between involvement of insurance firms in customer analysis and their financial per- formance. 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. Key words: customer analysis, customer research, customer lifetime value, financial performance, insurance industry, Poland. Theoretical background Customer analysis (CA), encompassing customer data collection, profitability meas- urement and lifetime value estimation, is a crucial component of several well-known PRZEDSIĘBIORCZOŚĆ I ZARZĄDZANIE 2016 Wydawnictwo SAN | ISSN 1733-2486 Tom XVII | Zeszyt 10 | Część II | ss. 101–115