Strategic Business Growth and Customer Retention Plan for a Pre-Need and Life Insurance Company

This study developed a Strategic Business Growth and Customer Retention Plan for a life insurance company in Hilongos, Leyte, Philippines, focusing on customer acquisition, collection efficiency, policy retention, and operational performance. An applied descriptive research design was employed, combining quantitative analysis of company records and survey responses with qualitative interviews and observations. Three plan holders were selected through purposive sampling based on policy aging and completed a seven-item customer satisfaction questionnaire using a five-point Likert scale. Descriptive statistics and SWOT analysis were used to evaluate business performance and identify strategic priorities. Findings revealed that the company acquired 58 new clients against a monthly target of 100, representing 58% target attainment, while the collection rate reached 80%. Customer retention remained high at 95%, with a corresponding 5% lapse rate. All surveyed planholders reported the highest satisfaction ratings, with a weighted mean of 5.00 across communication, service quality, payment information, trust, satisfaction, retention intention, and referral intention. Competition, limited customer acquisition, and collection inefficiencies emerged as major operational challenges. Based on these findings, a twelve-month strategic plan with a proposed ₱600,000 budget was developed, integrating customer acquisition, retention management, sales-force development, collection improvement, and digital performance monitoring. The study aligns with Sustainable Development Goals 8, 9, and 16 by promoting responsible economic growth, operational innovation, and institutional accountability. Its potential sustainability contribution lies in strengthening organizational stability, customer relationships, and responsible financial service delivery. The study recommends structured referral programs, improved collection monitoring, employee development, and pilot evaluation before full implementation. Findings remain limited to the study setting and require further validation.