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Journal articles on the topic 'Insurance service marketing'
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1
Zekaj, Besnik. "Marketing in Insurance Industry, Marketing Functions in Insurance Industry." European Journal of Multidisciplinary Studies 2, no. 1 (August 30, 2016): 33. http://dx.doi.org/10.26417/ejms.v2i1.p33-39.
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According to the logic of economic laws of market economy, the existence of enterprises is determined by it as to organize and realize the sale of their products and services. So, insurance companies or companies in this case can only exist if developed, increasing their activities in the field of insurance services that offer their clients. The need for marketing development in the field of insurance as service activities, in economic conditions of today's market it is necesery increase, so even the functioning of the insurance market today depends on the marketing of products that insurnace companies offer customers through insurance market. In theoretical terms it is defined as the marketing concept of the market, management and leadership in the company, which instead of former production orientation, the orientation of the market inaugurates the general policy of the enterprise. Marketing plays a key role in insurance market to meet supply and demand, because insurance products are products that are not seen, not touched, but exist only in the form of pledges. Selling a promise requires a confidence, a belief that the service provider will be realized if the loss will occur. In any other economic or economic subject, whether manufacturer or service does not have such kind of product. Marketing insurance plays a manifold, on the one hand made product promotion security, then raise the awareness of citizens about models of protection from risks , increased reliability to consumers , the cost of paying for the promise given by the insurer if a loss occurs will accomplished.
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Klose, Allen J. "Commentary: customer service insurance." Journal of Services Marketing 7, no. 1 (January 1993): 55–58. http://dx.doi.org/10.1108/eum0000000002533.
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Prymostka, Olena. "Life insurance companies marketing strategy in the digital world." Insurance Markets and Companies 9, no. 1 (October 2, 2018): 70–78. http://dx.doi.org/10.21511/ins.09(1).2018.06.
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The research is aimed to evaluate the internet marketing strategies in of life insurance companies in Ukraine. The insurance service in the time of digitalization faces scenarios of implementation in the marketing strategy on-line component. The main challenge for Ukrainian life insurance companies comparatively with the world practice is non-obligatory status of such kind of insurance contracts. So, on the one hand, costs of operation, regulatory pressures and inflexible technology infrastructure are increasing, and, on the other hand, economic recession does not allow to increase the number of insured persons, premiums and profit growth.Sector of financial services is characterized by an increase in the level of competition, life insurance compelled to compete with pensions funds, banks and other financial institutions in order to defend their market share. Insurance companies marketing strategy determines how an insurer can best achieve its goals and objectives, keep existing customers and attract new ones with minimal costs.Keeping all the above problems around the study would attempt to study all the factors that contributed to the effective marketing strategies. This paper presents different marketing strategies that are taken up in life insurance services keeping in view external and internal environment of the company.
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O'Connor, Genevieve Elizabeth. "The impact of insurance coverage on consumer utilization of health services." International Journal of Bank Marketing 33, no. 3 (May 18, 2015): 276–97. http://dx.doi.org/10.1108/ijbm-05-2014-0061.
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Purpose – The purpose of this paper is to identify how need for service, enabling factors and pre-disposing characteristics influences access to service. In addition, the authors seek to examine the moderating influence of pre-disposing variables on the relationship between insurance and health services utilization. Design/methodology/approach – The authors utilize data from a major metropolitan hospital in the USA to test and extend the behavioral model of health care. Findings – Results indicate that insurance and pre-disposing variables have a direct impact on type of health service utilization. However, the insurance effect is found to vary by demographic factors. Research limitations/implications – This paper is limited to secondary data. Future work can incorporate both attitudinal and behavioral measures to obtain a more comprehensive evaluation of services access. Practical implications – The research offers a tactical framework for management to segment consumer markets more effectively. Social implications – Through the framework, management will have the requisite knowledge to target segmented populations based on need, insurance, and pre-disposing variables which will help improve access to services and clinical outcome. Originality/value – The findings of this paper will serve as a basis for future research exploring the influence of insurance on access to services.
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Horyslavets, Pavlo, Mariia Plonka, and Viktor Trynchuk. "Experience marketing and its tools in promoting the insurance services." Innovative Marketing 14, no. 1 (May 18, 2018): 41–48. http://dx.doi.org/10.21511/im.14(1).2018.05.
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Economic development is rapidly growing. In the late 20th century, the experience economy is gaining in importance. When choosing a particular product or service, the priority is given to that impressing the buyer at the psychological level and causing some feelings and emotions. The urgency of this article is due to the need for a more detailed study of the marketing processes development in the current context. The principles of the experience economy formation are considered, and four sectors of impressions are also clarified. The article researches and systematizes scientific views on the experience marketing – a new direction of the relationship between the insurance brand and real and potential consumers of insurance products, and considers how its tools can be implemented. The essence of the experience marketing concept is defined. The article analyzes the experience marketing instruments – the event communication of insurance companies, the peculiarities of the insurance museums operated in different countries of the world. Particular attention is paid to event marketing as an effective tool for advancing insurance services.
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Buehler, Pascal, and Peter Maas. "Consumer empowerment in insurance." International Journal of Bank Marketing 36, no. 6 (September 3, 2018): 1073–97. http://dx.doi.org/10.1108/ijbm-12-2016-0182.
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Purpose The purpose of this paper is to enhance the understanding of consumer empowerment in the relationship between consumers and service providers. It draws on self-efficacy theory to conceptualize consumer empowerment and explain the impact on perceived performance risk in insurance decision making. Design/methodology/approach This study employs data collected from an online survey involving 487 consumers in Switzerland, who recently decided on an insurance service. A structural equation model quantifies both the psychological effects on consumers’ perception of insurance services and behavioral effects on their decision-making process. Findings Perceived consumer empowerment is conceptualized by perceived self-efficacy and perceived controllability. Both have a significant impact on perceived performance risk, while the former is partially mediated by the preference to delegate the decision to a surrogate. Moreover, customers’ involvement in the purchase process moderates both the direct and indirect effect of perceived self-efficacy on perceived performance risk. Research limitations/implications The results are based on consumers’ perceptions from a single country. Furthermore, consumers’ perceptions were surveyed with a time lag after the decision-making process. To increase rigor, perceptions should be collected during decision making. Practical implications Results show that consumer empowerment can be employed as a risk reduction strategy. Consumers with self-efficacy and controllability beliefs perceive significantly less performance risk; however, practitioners should consider that consumers are also motivated to make decisions independently rather than delegating their decisions. Furthermore, consumer empowerment depends on consumer will. For largely indifferent consumers, empowerment does not affect risk or decision delegation preference. Originality/value The study is among the few empirical works to examine the effects of consumer empowerment on the consumer-service provider relationship on an individual level. Furthermore, applying consumer empowerment in relationship marketing implies a shift in research focus to the question of how consumers construe decision-making situations rather than objectively measuring the state of consumer relationship.
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Nowotarska-Romaniak, Beata. "Customer Loyalty on the Insurance Services Market in Poland." Marketing of Scientific and Research Organizations 36, no. 2 (June 1, 2020): 77–89. http://dx.doi.org/10.2478/minib-2020-0018.
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AbstractInsurance companies are currently carrying out tasks related to building trust, image creation and giving distinctive features to intangible insurance services, which is associated with paying more attention to the packaging of the service than to the service itself. The packaging of the insurance service consists of people, the appearance of branches, the availability of insurance services and flexibility in customer service. For insurance companies, the knowledge of not only marketing practice, but also the knowledge about customer behaviours or factors affecting their loyalty is becoming important. The purpose of the article is to review the loyalty on the insurance services market in Poland and to examine the factors influencing it. The article discusses the methods of testing customer loyalty on the insurance services market. On the other hand, based on the results of the survey, factors affecting customer that may affect customer loyalty satisfaction are presented.
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Yu, Tsu-Wei, and Lu-Ming Tseng. "Examining the role of commercial long-term care insurance in long-term care services." International Journal of Bank Marketing 37, no. 2 (April 1, 2019): 565–78. http://dx.doi.org/10.1108/ijbm-01-2018-0007.
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PurposeThe purpose of this paper is to explore the role of commercial long-term care insurance (LTCI) in long-term care (LTC) services, and to elucidate the mediating roles of service quality and relationship satisfaction in the relationship between customization and loyalty. In addition, this study offers important recommendations for policy makers in formulating policy aimed at supporting the industry and regulating its customer relationships in life insurers in Taiwan.Design/methodology/approachStudy participants were policyholders of life insurance in Taiwan with experience in purchasing commercial LTCI. They were investigated through in-depth interviews and surveys. The hypotheses were tested using the structural equation modeling (SEM) analysis of variance.FindingsThe findings of this study are important for policy makers in formulating policy aimed at supporting the industry and regulating its customer relationships.Originality/valueThis study represents the first attempt to investigate the role of LTCI in LTC services in Taiwan. Likewise, this study improves our understanding of the main issues relating to the effect of customization on policyholder loyalty, and the partially mediating role of service quality and relationship satisfaction in the insurance marketing context.
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Tsai-Jyh, Chen. "Marketing Channels and Underwriting Service Quality of Life Insurance." International Review of Financial Consumers 1, No. 1 Oct 2016 (October 1, 2016): 9–24. http://dx.doi.org/10.36544/irfc.2016.1.2.
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This paper investigates the relationship between marketing channels and underwriting service quality with focus on two major channels: salesperson and bancassurance. Based on the data of life insurance in Taiwan, the empirical analysis shows that the traditional salesperson channel has competitive advantages in underwriting service quality. This result supports the coexistence of salesperson and bancassurance because previous literature indicated bancassurance more cost-efficient than a salesperson. The empirical result shows that insurers with more dependence on salesperson channel present lower complaint ratio and higher contract persistency due to better service quality. The empirical result also indicates that service quality has a significantly positive impact on insurer’s reputation. This finding implies that the insurers with more dependence on bancassurance should take additional competitive strategies to maintain the long-term customer relation.
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Zhou, Weilun. "Impacts of Customer Psychology Analysis on Insurance Marketing Models and Strategies." Finance and Market 5, no. 2 (May 28, 2020): 14. http://dx.doi.org/10.18686/fm.v5i2.1888.
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<p>In recent years, China's insurance industry is developing rapidly and China has become the world's second largest insurance market. As a modern service-oriented industry, insurance is undergoing a transition from a large-scale to a competitive industry and plays an increasingly significant role in people's social life. From the perspective of traditional insurance marketing, this article analyses the features of insurance products and the models and current status of insurance marketing. It explores the existing problems in traditional and internet insurance marketing and provides suggestions for improving the models and strategies of insurance marketing based on customer psychology.</p>
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Crosby, Lawrence A., and Nancy Stephens. "Effects of Relationship Marketing on Satisfaction, Retention, and Prices in the Life Insurance Industry." Journal of Marketing Research 24, no. 4 (November 1987): 404–11. http://dx.doi.org/10.1177/002224378702400408.
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Complex, highly intangible services such as life insurance consist largely of credence properties. Insurance providers engage in relationship-building activities that emphasize buyer-seller interaction and communication. Economists contend consumers are prone to make quality generalizations based on the strength of these relationships, perhaps to the detriment of price competition. The authors report contrary results suggesting that, though relationship marketing adds value to the service package, it is not a substitute for having a strong, up-to-date core service.
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Rambocas, Meena, and Surendra Arjoon. "Brand equity in Caribbean financial services: the moderating role of service providers." International Journal of Bank Marketing 38, no. 3 (November 28, 2019): 642–70. http://dx.doi.org/10.1108/ijbm-05-2019-0167.
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Purpose The purpose of this paper is to develop an integrated model to represent how service experience (core, employee and service scale), customer satisfaction (transaction-specific and cumulative) and brand affinity influence brand equity in financial services, taking into account the moderating influence of financial service providers. Design/methodology/approach Data were collected from 751 customers in three types of financial service providers (banks, insurance companies and credit unions), and analyzed with structural equation modeling and multi-group analysis. Findings The findings confirm the significant and positive influence of service experience, customer satisfaction and brand affinity on brand equity. Employee service experience has the strongest influence, but its impact is mediated by customer satisfaction. Brand affinity has the lowest influence on brand equity. The type of financial service provider moderates the influence of customer satisfaction on brand equity; transactional satisfaction is more important for credit unions and insurance companies, but cumulative satisfaction is higher for banks. Practical implications The study is significant for three reasons. First, it reconciles branding strategies across different types of financial service providers. Second, it will help financial managers to develop and implement a more integrated approach toward building brand equity for financial service brands. Finally, it will identify specific service-related areas financial providers can target to increase customers’ preferential value. Originality/value The paper addresses previous concerns within brand equity studies by examining the drivers of brand equity formation in multiple financial institutions. It shows how different aspects of service experience and customer satisfaction affect brand affinity and preferential attitudes toward financial brands.
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Yang, Wei, and Junkai Zhou. "Service Innovation of Insurance Data Based on Cloud Computing in the Era of Big Data." Complexity 2021 (July 22, 2021): 1–10. http://dx.doi.org/10.1155/2021/2303129.
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With the advent of the era of big data, great changes have taken place in the insurance industry, gradually entering the field of Internet insurance, and a large amount of insurance data has been accumulated. How to realize the innovation of insurance services through insurance data is crucial to the development of the insurance industry. Therefore, this paper proposes a ciphertext retrieval technology based on attribute encryption (HP-CPABKS) to realize the rapid retrieval and update of insurance data on the premise of ensuring the privacy of insurance information and puts forward an innovative insurance service based on cloud computing. The results show that 97.35% of users are successfully identified in test set A and 98.77% of users are successfully identified in test set B, and the recognition success rate of the four test sets is higher than 97.00%; when the number of challenges is 720, the modified data block is less than 9%; the total number of complaints is reduced from 1300 to 249; 99.19% of users are satisfied with the innovative insurance service; the number of the insured is increased significantly. To sum up, the insurance innovation service based on cloud computing insurance data can improve customer satisfaction, increase the number of policyholders, reduce the number of complaints, and achieve a more successful insurance service innovation. This study provides a reference for the precision marketing of insurance services.
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Riikkinen, Mikko, Hannu Saarijärvi, Peter Sarlin, and Ilkka Lähteenmäki. "Using artificial intelligence to create value in insurance." International Journal of Bank Marketing 36, no. 6 (September 3, 2018): 1145–68. http://dx.doi.org/10.1108/ijbm-01-2017-0015.
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Purpose Recent technological and digital developments have opened new avenues for customer data utilization in insurance services. One form of this data transformation is automated chatbots that provide convenient access to data leveraged through a discussion-like interface. The purpose of this paper is to uncover how insurance chatbots support customers’ value creation. Design/methodology/approach Three complementary theoretical perspectives – artificial intelligence, service logic, and reverse use of customer data – are briefly discussed and integrated into a conceptual framework. The suggested framework is further shown through illustrative case examples that characterize different ways of supporting customers’ value creation. Findings Chatbots represent a new type of interaction through which companies can influence customers’ value creation by providing them with additional resources. Based on the proposed conceptual framework and the illustrative case examples, four metaphors are identified that characterize how insurance chatbots can support customers’ value creation. Research limitations/implications The study is conceptual in nature, and the case examples are used for illustrative purposes. No representative data from those users who will eventually determine whether chatbots are of value was used. Practical implications Using the suggested framework, which is aligned with provider service logic, insurance companies can consider what kind of a role they wish to play in customers’ value-creating processes. Originality/value Automated chatbots provide convenient access to data leveraged through a discussion-like interface. This study is among the earliest to address their value-creating potential in insurance.
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Yanyshyn, Y., H. Bryk, and Y. Kashuba. "Problems and Perspectives of Internet-Insurance in Ukraine." Marketing and Management of Innovations, no. 4 (2019): 31–38. http://dx.doi.org/10.21272/mmi.2019.4-03.
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The problems and prospects of insurance development in the internet are considered in the article. Considerable attention in the research is paid to the theoretical aspects of the essence of «internet insurance». The main stages of the insurance process through the internet and the key requirements that apply to the insurer and the insured when completing the insurance contract are described. It is determined that for the insurance company key advantages in the organization of virtual business are: lower costs associated with the organization of the company's website; lower transaction costs for customer service operations; expansion of geographical diversification of company insurance products; an opportunity to increase the sale of insurance products at the expense of open access to customers from around the world; customer service on a qualitatively new level – seven days a week, 365 days a year. The analysis of the insurance products market in the internet was conducted. The study found that insurance services offered through the internet in Ukraine include property, personal insurance and liability insurance. The most widespread in Ukraine are such insurance products as insurance for travelling abroad, medical insurance, CASCO, compulsory insurance of civil liability of owners of land vehicles, insurance of property of individuals, etc. The easiest procedure for purchasing a policy among all of these is auto insurance. The key attention is paid to ways of improving the mechanism of providing internet insurance. In the course of the study, specific directions for developing an e-commerce strategy for insurance companies based on SWOT-analysis were improved; developed an algorithm for strategic management of the insurance company and a conceptual model of interaction between the insurer and the insured in the framework of the process of strategic marketing planning in the market of internet services. An important role in the processes of management of the insurer was given to the complex of marketing communications, namely the elements of the marketing mix: «product», «price», «sales», «promotion». It is determined that for entering an insurance company into the market of internet services, the subject of planning is the outline of the main goals regarding sales and income received, as well as the definition of their potential consumers (market segment), the forming of their own image and reputation. Keywords: internet insurance, insurer, on-line insurance, virtual economy, internet services.
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Gebert-Persson, Sabine, Mikael Gidhagen, James E. Sallis, and Heléne Lundberg. "Online insurance claims: when more than trust matters." International Journal of Bank Marketing 37, no. 2 (April 1, 2019): 579–94. http://dx.doi.org/10.1108/ijbm-02-2018-0024.
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Purpose The purpose of this paper is to develop and test a theoretical framework explaining the adoption of online insurance claims characterised by infrequent interactions, inherent complexity and risk. It extends the technology acceptance model to include knowledge-related and trust-related beliefs. Design/methodology/approach The framework is tested with structural equation modelling using data from a survey of 292 customers who made online insurance claims. Findings are further explained through 30 telephone interviews conducted with online and offline claimants. Findings Previous research in financial services has shown trust to be equally or more important than perceived usefulness and perceived ease of use in forming attitudes towards adopting online insurance applications. The findings of this paper contradict this by showing, at best, a weak relationship between trusting attitude and intention to use the online service. Trust is somewhat meaningful; however, perceived ease of use, perceived usefulness and technology attitude are substantially more important in an online insurance claims setting. Research limitations/implications Contradictory results always beg further research to assure their robustness. Nevertheless, they can also point to a developing trend where trust in the internet channel, per se, is of diminishing importance. Internet and product knowledge are not as pertinent to forming intentions as usefulness and ease of use. Practical implications To encourage customers to adopt online applications for a trusted company, all emphasis should be on user friendliness and perceived usefulness of the online interface. Originality/value Compared to other channels, consumers are no longer naïve or distrustful of the online channel for interacting with a firm. If they perceive usefulness and ease of use, they will adopt the offered service.
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Mohsen, Majed Abdul Amir, and Ahmad Abdul Reda Enad. "The Effect of Marketing Deceptive Practices on the Organizational Mental Image from Customer Viewpoint (Analytical Study of the Insurance Industry)." JOURNAL OF UNIVERSITY OF BABYLON for Pure and Applied Sciences 27, no. 2 (March 31, 2019): 44–66. http://dx.doi.org/10.29196/jubpas.v27i2.2056.
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This study aimed to address the concept of deceptive marketing in the most important activity of companies, i.e., marketing, which is the lifeline on which companies depend on the process of financing and product selling. Additionally, through marketing, companies can communicate directly with customers, and this activity includes marketing practices that are deceptive or misleading. The study dealt with the presentation of the components of the marketing mix, and how each component can include deceptive or misleading practices. Marketers practice customer manipulation with the intention of changing customers' behavior and attitudes towards achieving the greatest possible profit in lesser time. With the spread of marketing deception and marketing fraud in various areas, the phenomenon is growing not only in product marketing but also in service marketing, especially insurance services, as many marketers and sales representatives believe that success and profit-making are associated with those practices. The study addressed many factors facilitating these practices, as well as the ways in which marketing deception is practiced and the impact of such practice on the perceptions that form in the minds of customers about companies. One of the most important objectives of the study was to substantiate the relationship between the dimensions of marketing deception and the dimensions of the mental image of the organization by relying on the statistical analysis of the initial data of the study, which was collected through questionnaire that was prepared for this purpose and distributed to a random sample of 225 customers of insurance companies operating in the insurance market in Iraq.
The most important findings of the study show that deceptive marketing practiced through the service marketing mix, among other dimensions, affects the mental image that the customers hold towards the organization in negative and varying ways. This study presents a number of recommendations, the foremost of which is the necessity of educating marketers and companies about the negativity of deceptive practices on the company in the long term, as well as paying attention to the mental image held by customers towards the insurance companies because of its impact on the formation of positive impressions towards the company, and thus increasing market share of the company through its reputation in the insurance market .
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Śniegocka - Łusiewicz, Małgorzata. "Market basket analysis in marketing research." Equilibrium 2, no. 1 (June 30, 2009): 115–23. http://dx.doi.org/10.12775/equil.2009.011.
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Market basket analysis is, to put it simply, analysis of the content of customer’s trolley. Market Basket Analysis is based on recognition of rules that customers apply while filling their trolleys, their habits, proper use of services and on research in what products are purchased together or in a defined order. Identification of the aforementioned rules may have a great influence on increasing customer’s value. Basket analysis may be applied for planning promotional campaigns, verifying their effectiveness, effective offering additional services and optimising service packages, tariffs and fees (e.g. banks, insurance companies, telephone operators); accurate recommendation on what other products to buy (e.g. online shops), increasing sales (e.g. supermarkets, special offers) and preventing companies providing services from losing their customers.
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Nwora, Nebo Gerald. "The Revised Guidelines on Bancassurance Operation in Nigeria: Marketing Implications on Patronage of Insurance Products." Journal of Public Management Research 4, no. 2 (December 24, 2018): 29. http://dx.doi.org/10.5296/jpmr.v4i2.14102.
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This study seeks to assess the marketing implication of the revised operational guidelines on bancassurance referral model in Nigeria particularly in terms of how the model can affect customers’ patronage of Insurance companies. The objectives of the study include; (i) to determine the influence of bancassurance referral on customers’ patronage of insurance products; (ii) to ascertain how customer loyalty moderate the influence of bancassurance referral on customers’ patronage of insurance products; and (iii) to assess how the perceived service quality of the deposit money banks moderate the influence of bancassurance referral on customers’ patronage of the insurance products. Quantitative survey research design was adopted for the study. By gathering primary data from 170 banks’ customers and 68 bancassurance desk officers of insurance companies using structured questionnaire; and using structural equation modelling for testing and analyzing the gathered datasets, findings revealed that bancassurance referral model has significant influence on customers’ patronage of insurance products and both customer loyalty and perceived service quality of the banks significantly moderate the influence of bancassurance referral model on customers’ patronage of the insurance products. It was recommended that insurance companies that want to go into bancassurance relationship with any bank in Nigeria should choose banks characterized by large number of loyal customers and high perceived service quality.
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Suhartini, Titin, and Saryomo Saryomo. "PENGARUH BAURAN PEMASARAN JASA DAN KUALITAS LAYANAN TERHADAP KEPUASAN PELANGGAN JAMINAN KESEHATAN NASIONAL DI KLINIK KOTA TASIKMALAYA." JURNAL KEPERAWATAN MUHAMMADIYAH BENGKULU 7, no. 1 (June 21, 2019): 46–54. http://dx.doi.org/10.36085/jkmu.v7i1.311.
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The purpose of this study was to determine the effect of marketing mix and service quality on JKN customer satisfaction at the Tasikmalaya City Clinic, this study uses descriptive and verification methods, data analysis uses descriptive analysis and multiple regression. The results revealed 1) marketing mix influenced JKN customer satisfaction with a value of 0.589, 2) service quality affected JKN customer satisfaction with a value of 0.669, and 3) marketing mix and service quality jointly influenced JKN customer satisfaction with a value of 0.684. Conclusion, there is an effect both directly and jointly the marketing mix and service quality on customer satisfaction National Health Insurance in the Tasikmalaya City clinic. Keywords: Marketing Mix, Service Quality and Customer Satisfaction
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Barrese, James, Helen I. Doerpinghaus, and Jack M. Nelson. "Do Independent Agent Insurers Provide Superior Service? The Insurance Marketing Puzzle." Journal of Risk and Insurance 62, no. 2 (June 1995): 297. http://dx.doi.org/10.2307/253793.
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Morgan, Robert E., and Sanjay Chadha. "Relationship Marketing at the Service Encounter: the Case of Life Insurance." Service Industries Journal 13, no. 1 (January 1993): 112–25. http://dx.doi.org/10.1080/02642069300000007.
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Ignatovich, Liliya. "USE OF INNOVATIVE TECHNOLOGIES BY INSURANCE MARKET ENTITIES. TELEMATICS IN CAR INSURANCE." Three Seas Economic Journal 1, no. 2 (December 8, 2020): 7–11. http://dx.doi.org/10.30525/2661-5150/2020-2-2.
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The purpose of the article is to substantiate the need for the use of innovative technologies by participants in the insurance market, namely, telematics in car insurance. The current state of the financial services market requires insurers to raise standards of work through the introduction of innovative products. It is determined that increasing the competitiveness of an insurance company should focus on providing the best personal services and meet the requirements of modernity and modern social trends, and therefore, make full use of the Internet: marketing and innovation. In view of this, the key task of the insurer’s innovation activity is the maximum approximation of insurance services to the existing needs of the insured in insurance protection. It is possible to reach stable demand for this or that insurance service under the conditions of application of the world innovative insurance programs providing balance of qualitative and quantitative parameters of the insurance contract only. The relevance of the topic is that the Ukrainian insurance companies are forced to look for new opportunities to meet the needs of their customers in order to maintain competitive advantages and work effectively in the conditions of innovative development of insurance activity in the world. A promising area of further research is to assess the readiness of insurance market participants to use innovative insurance services. Methodology. The essence of telematics in car insurance is investigated. The state of the CASCO insurance market in Ukraine is analyzed. The main advantages of telematics use by the subjects of the insurance market of Ukraine are determined. Practical implications. It is proved that the introduction of innovative technologies opens new opportunities for the growth of additional premiums, improving the quality of service and minimizing insurance risks. Theoretical provisions on the need for ways to improve the innovative activities of the insurer have been further developed.
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Himmelstein, David U., and Steffie Woolhandler. "Socialized Medicine: A Solution to the Cost Crisis in Health Care in the United States." International Journal of Health Services 16, no. 3 (July 1986): 339–54. http://dx.doi.org/10.2190/03fk-fn53-2p5b-erd5.
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Despite growing concern with cost containment, most health policy analysts have ignored vast potential savings on medically irrelevant spending for excess administration, profits, high physician incomes, marketing, and legal involvement in medicine. Indeed, many recent reforms encourage administrative hypertrophy, entrepreneurialism and litigation. A universal national health program could abolish billing and consequently the need for much of the administrative apparatus of health care, and decrease spending for profits and marketing. In this article we analyze the administrative savings that could be realized from instituting a Canadian-style national health insurance program or a national health service similar to that in Britain, and the potential savings from additional reforms to curtail profits, marketing and litigation. Our calculations based on 1983 data suggest that national health insurance would save $42.6 billion annually: $29.2 billion on health administration and insurance overhead, $4.9 billion on profits, $3.9 billion on marketing, and $4.6 billion on physician's incomes. A national health service would save $65.8 billion: $38.4 billion on health administration and insurance overhead, $4.9 billion on profits, $3.9 billion on marketing, and $18.6 billion on physician's incomes. Complete nationalization of all health related industries and reform of the malpractice system would save at least $87.2 billion per year. We conclude that a national health program, in addition to improving access to health care for the oppressed, could achieve cost containment without rationing of care.
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Shi, Guicheng, Huimei Bu, Yuan Ping, Matthew Tingchi Liu, and Yonggui Wang. "Customer relationship investment and relationship strength: evidence from insurance industry in China." Journal of Services Marketing 30, no. 2 (April 11, 2016): 201–11. http://dx.doi.org/10.1108/jsm-03-2014-0088.
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Purpose This study aims to elucidate how different relationship investment efforts by a service firm affect its customers’ perceived relationship investment; to determine how perceived relationship investment influences various dimensions of relationship strength; and to explore the moderating effects of customer innovativeness and complaint propensity on the relationship between the perceived relationship investment and relationship strength. Design/methodology/approach To minimize common method variance, data were collected from pairs of life insurance agents in China and their clients using self-report questionnaires. Hypotheses were tested using structural equation modeling. Findings The results indicate that customers value financial effort most followed by social effort and structural effort. Perceived relationship investment influences the affective strength most strongly, followed by cognitive strength and conative strength. Customer innovativeness and complaint propensity both moderate the effectiveness of perceived relationship investment in influencing two of the three dimensions of relationship strength. Originality/value This study is among the first to specify how service employees can guide consumer perceptions of relationship investment by applying three types of relationship investment effort. The impact of perceived relationship investment on different dimensions of relationship strength was assessed to demonstrate how service providers can benefit from investing in building consumer relationships. The moderating impact of consumer innovativeness and of complaint propensity was quantified. The research findings have important implications for managing different relationship investment as well as recruiting and training service employees.
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Tam, Jackie L. M., and Y. H. Wong. "Interactive selling: a dynamic framework for services." Journal of Services Marketing 15, no. 5 (September 1, 2001): 379–96. http://dx.doi.org/10.1108/eum0000000005656.
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In the 1990s and into the twenty‐first century, there has been a growing interest in understanding the development of service relationships. Trust and satisfaction have been highly recognized in the literature as effective elements for establishing successful relationships. However, little is known regarding their importance in cultivating relationships in an interactive‐selling context. The present study attempts to examine the influence of behavior and performance of salespersons on customers’ trust and satisfaction and, in turn, their anticipations of future interactions with the salesperson in the context of insurance services. A survey was conducted with customers from a large UK insurance company based in Hong Kong. The results show that satisfaction, the salesperson’s self‐disclosure and relation orientation significantly influenced future business opportunities. From the findings, a dynamic framework incorporating a set of interactive elements will be proposed. Managerial implications and directions for future research will be outlined and suggested.
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Sustariyah, Sri. "INFLUENCE OF HEALTH SERVICE ACCEPTANCE VALUE TOWARD A PATIENT RELIANCE." Journal of Economic Empowerment Strategy (JEES) 1, no. 1 (August 31, 2018): 58. http://dx.doi.org/10.30740/j.v1i1.24.
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The Government appoints the Social Health Insurance Administering Body, hereinafter abbreviated as BPJS Kesehatan Pengelengaranya Agency. West Java is one of the organizers of BPJS Program whose membership is still below the standard set by the government. Alleged implementation of operational implementation of Social Security Health is still not fully understood and perceived benefits and services by the community, Marketing with a system of proximity to customers and provision of quality services to be one strategy that is effective in improving public confidence. Relational marketing and service quality is a determinant factor in increasing value and trust for customers. The purpose of this study is to analyze the influence of relational marketing and service quality to customer value and its impact on customer trust. The method used is quantitative with expert judgment. The sample of this research is inpatient of BPJS health participant at Public Hospital owned by Local Government in West Java Province. Technique of data retrieval is done by cluster proportional random sampling and analysis technique used is SEM analysis (structural equation modeling). The results of descriptive research indicate that relational marketing, service quality, customer value and customer trust move from less good to sanga tbaik. The results of the study of each indicator is still found some less than optimal. The result of verifikatif research proves that relational marketing and service quality have positive and significant effect to customer value and customer value have positive and significant influence to customer trust.
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Sustariyah, Sri. "INFLUENCE OF HEALTH SERVICE ACCEPTANCE VALUE TOWARD A PATIENT RELIANCE." Journal of Economic Empowerment Strategy (JEES) 1, no. 1 (August 31, 2018): 58. http://dx.doi.org/10.30740/jees.v1i1.24.
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The Government appoints the Social Health Insurance Administering Body, hereinafter abbreviated as BPJS Kesehatan Pengelengaranya Agency. West Java is one of the organizers of BPJS Program whose membership is still below the standard set by the government. Alleged implementation of operational implementation of Social Security Health is still not fully understood and perceived benefits and services by the community, Marketing with a system of proximity to customers and provision of quality services to be one strategy that is effective in improving public confidence. Relational marketing and service quality is a determinant factor in increasing value and trust for customers. The purpose of this study is to analyze the influence of relational marketing and service quality to customer value and its impact on customer trust. The method used is quantitative with expert judgment. The sample of this research is inpatient of BPJS health participant at Public Hospital owned by Local Government in West Java Province. Technique of data retrieval is done by cluster proportional random sampling and analysis technique used is SEM analysis (structural equation modeling). The results of descriptive research indicate that relational marketing, service quality, customer value and customer trust move from less good to sanga tbaik. The results of the study of each indicator is still found some less than optimal. The result of verifikatif research proves that relational marketing and service quality have positive and significant effect to customer value and customer value have positive and significant influence to customer trust.
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Lakshmi, S. Rani, and P. Santhi. "Policyholders Service Satisfaction on Marketing Mix of Life Insurance Corporation of India." Asian Journal of Research in Business Economics and Management 5, no. 1 (2015): 97. http://dx.doi.org/10.5958/2249-7307.2015.00008.0.
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Rita, Nova. "Hubungan Bauran Pemasaran Jasa Pelayanan Keperawatan dengan Loyalitas Pasien." Jurnal Administrasi Kesehatan Indonesia 3, no. 2 (July 1, 2015): 186. http://dx.doi.org/10.20473/jaki.v3i2.2015.186-203.
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ABSTRACTHigh public interest to go abroad for treatment need to be a particular concern for hospitals in the country. The hospital is not only able to create berkelualitas services but also need to create loyalty to the patient. Loyalty will be created if any implementation of nursing services mix well done. This study aims to determine the relationship of nursing mix shipping services with patient loyalty. This type of survey research with cross sectional analytic study with a sample of 68 people. The way to get the sample with stratified proportional is random sampling. The research result was analyzed by using chi square and logistic regression test. The result of research showed that there is a significant relationship between the marketing mix with nursing service ( product, place, price, promotion, people, and process, as well as physical evidence) with the patient loyalty in which score p > 0,05. A conclusion of the research is simplified that there is a relationship between the marketing mix with hospital service for the patient loyalty. The relationship could be seen at people variable and health insurance with patient loyalty. The development division for service and marketing at hospital is necessary to apply the specific cost as to promote the old patient and the qualified service of nursing. The other major focus want to develop the healthy service of nursing treatment, also provide the patients’ satisfaction, thus it make patients’ loyalty on the installation of hospitality of Ambun Pag.Keywords: mixed, marketing, loyalty, patients
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Effiong, Andem Ita. "Perceived influence of relationship communication on insurance service quality and customer satisfaction." Independent Journal of Management & Production 10, no. 1 (February 1, 2019): 234. http://dx.doi.org/10.14807/ijmp.v10i1.829.
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Extant literature in marketing and communications has long recognized the importance of effective communication as the essential link for sustainable relationship between organizations and their customers. In spite of its importance, many studies have revealed that practices of communication in relationship marketing in some service firms are fraught with problems, which influence the perceptions of customers about the commitment of those organizations to service quality and customer value. This exploratory study was undertaken to analyze how insurance customers perceive their relationships with insurers through received messages. The study also sought to identify the inherent differences in the perception of relational messages received from insurers by the customers based on gender. A simple random sample of 145 insurance customers were drawn for the study from three insurance agencies. Useful responses were received from 120 automobile insurance policyholders, which represented 82.76% of the sample. Four hypotheses were tested with Pearson Correlation, one-way analysis of variance (ANOVA), and multiple regression analysis. The results of the study suggested significant relationship between relational messages, service quality, and customer satisfaction. In terms of differences in the perceptions of male and female respondents, the study indicated significant differences in the perception of personal values and perceived quality through received messages. Similarly, significant differences were recorded in the perception of message credibility by the female participants as compared with those of the males. The study also revealed the need for insurance companies to fully imbibe relationship communication with their customers, through assessment of the internal and external situations which surround the information needs of individual customers.
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Chang, Jui-I., and Chen-Ying Lee. "The effect of service innovation on customer behavioral intention in the Taiwanese insurance sector: the role of word of mouth and corporate social responsibility." Journal of Asia Business Studies 14, no. 3 (January 2, 2020): 341–60. http://dx.doi.org/10.1108/jabs-06-2018-0168.
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Purpose Service innovation has been one of the essential elements to meet the customers’ requirements, but few studies discuss service innovation regarding behavioral intention in the insurance industry. This paper aims to investigate the effects of service innovation on customer behavioral intention and examines the role of word-of-mouth (WOM) and corporate social responsibility (CSR). Design/methodology/approach This paper used a survey to assess consumer behavioral intention regarding service innovation activities from life insurance. Questionnaires were administered to consumers who have purchased life insurance in Taiwan and the survey questions were tested through factor analysis. An analysis of multiple and hierarchical regression was performed to test the hypotheses. Findings The empirical results demonstrate that life insurance service innovation has a significantly positive influence on WOM and behavioral intention. Additionally, WOM has a partially mediating effect between service innovation and behavioral intention. Furthermore, the study indicates that CSR has a moderating effect on the relationship between service innovation and behavioral intentions. Originality/value Considering the uniqueness of this study in the context of Taiwan, the research draws on signaling theory as the framework to explore service innovation and the impact of social responsibility on consumer behavioral intentions in the Taiwanese insurance industry. Additionally, the results can be considered a service marketing strategy and are applicable to the financial service industry in some developing Asian countries
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Raman, Prashant. "Improving customer satisfaction by increasing the reach: Life Insurance Corporation of India." Emerald Emerging Markets Case Studies 6, no. 2 (June 6, 2016): 1–21. http://dx.doi.org/10.1108/eemcs-05-2015-0080.
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Subject area Strategic Management and Marketing. Study level/applicability Management students (MBA). Case overview In the present times of global competition and busy schedules of individuals, it is expected that companies provide service with security, sincerity and flexibility keeping pace with changing global scenario of marketing. Service receiver expects competitive and optimum facilities with ease while sitting in any corner of the world at any time of the day. It implies that the service provider should be available at all times/all places for satisfying the needs of the customers. A daunting task ahead of Life Insurance Corporation of India (LIC) was to change its conventional approach and work toward a newer, user-friendly one. The top management, i.e. the Board of Directors, took up the task of identifying a quicker but securer approach to provide optimum facilities to the policyholders. Expected learning outcomes Achieving customer satisfaction through alternate collection channels and retaining market share, role of customer servicing in creating competitive advantage, challenges for a large public sector enterprise – traditional approach or modern approach, role of private companies in development of insurance industry, creating awareness about the product/service through different distribution channels and use of information and telecommunication technologies to reach remote places, are the expected learning outcomes. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 8: Marketing
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Tseng, Lu-Ming. "How customer orientation leads to customer satisfaction." International Journal of Bank Marketing 37, no. 1 (February 4, 2019): 210–25. http://dx.doi.org/10.1108/ijbm-10-2017-0222.
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PurposeFinancial service workers’ etiquette and creativity have been less mentioned in the research on bank marketing. The purpose of this paper is to examine the mediating effects of financial service workers’ etiquette and creativity on the relationship between customer orientation and customer satisfaction.Design/methodology/approachData are collected from 336 insurance customers in Taiwan, and partial least squares analysis is used to test the hypotheses.FindingsThe findings show that financial service workers’ customer orientation (perceived by customers) is positively related to the customers’ perception of financial service workers’ etiquette and creativity. Moreover, it is found that the financial service workers’ etiquette and creativity partially mediate the relationship between customer orientation and customer satisfaction.Originality/valueThis is the first study to highlight the roles that financial service workers’ etiquette and creativity play in the relationship between customer orientation and customer satisfaction.
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Abdur Rehman, Mohsin, Ismah Osman, Khurram Aziz, Hannah Koh, and Muhammad Awais. "Get connected with your Takaful representatives." Journal of Islamic Marketing 11, no. 5 (December 5, 2019): 1175–200. http://dx.doi.org/10.1108/jima-06-2019-0122.
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Purpose Marketing investigations on the concomitant variables of both service quality and relationship marketing are very scarce. Hence, the purpose of this study is to examine the customers’ perception of the Takaful (Islamic insurance) in relation to service quality and relationship marketing. More importantly, the examination of the impact of both service quality and relationship marketing on corporate image is further established. Accordingly, corporate reputation and customer loyalty were further evaluated, along with these respective interactions. Design/methodology/approach A self-administered survey was conducted from 350 Malaysian customers of Takaful products and services. The purposive sampling was used to collect data from the existing customers of Takaful service operators in the Klang Valley, an area in Malaysia. The questionnaire was constructed through measures of PAKSERV for service quality, as well as other measures related to relationship marketing and other constructs in this study. Structured equation modeling was used in the analysis of data. Findings The current study is the first one of its kind to examine perceptions of customers of relationship marketing and service quality as predictors of corporate image, which drives corporate reputation and ultimate customer loyalty from the perspective of the Takaful industry in Malaysia. Service quality dimensions (tangibility, reliability and personalization) and relationship marketing dimensions (Islamic ethical behavior and structural bond) positively influence corporate image of the Takaful organizations. Moreover, customer loyalty can be predicted, mainly through corporate reputation as well as corporate image. Research limitations/implications The present study is focused on the existing Malaysian Takaful customers as the population frame. Accordingly, future research studies may evaluate the same model, but perhaps in another different cultural context where the Takaful industry can grow and expand in other countries, including Saudi Arabia, Sudan and Pakistan. More importantly, the same variables may be verified to different service industries in future studies, especially those constructs related to relationship marketing because many products and services at present can be attained without face-to-face interactions through online transactions without having brick and mortar businesses. Practical implications It is important for Takaful service operators to focus on connecting the social and financial bonds to ensure the fulfilment of customers’ needs. They also need to improve the qualities related to tangibility, reliability and personalization to be able to increase their market share, especially in this present highly competitive market. Indeed, Takaful generally provides financial protection and risk management; nevertheless, the religious and ethical values need to be embraced in totality unlike conventional insurance, which has the element of gambling, uncertainty and the imposition of interest. Hence, this study aims to assist the Takaful operators toward achieving corporate reputation and apparently customer loyalty for them to remain relevant in this industry. Originality/value The model used in this study is based on the cultural context of Malaysia from the perspective of the Takaful industry. It attempts to explain customer loyalty through the incorporation of service quality and relationship marketing dimensions, where it is associated with the elements of the values of Islamic ethics especially in business transactions. More importantly, these dimensions were put together to identify its impact on corporate image, corporate reputation, and ultimately, customer loyalty, thus illustrating a distinct set of outcomes of the present study.
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Magreth B Tjizumaue and Krishna Govender. "Consumer Awareness, Consumer Protection, Service Quality and Loyalty: The Case of Long-term Insurance Consumers in Namibia." Restaurant Business 118, no. 10 (October 18, 2019): 411–28. http://dx.doi.org/10.26643/rb.v118i10.9335.
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Due to the absence of appropriate Consumer Protection legislation in Namibia, there seems to be a lack of consumer protection, which may result in consumers being exploited. Since the literature reveals that Consumer Awareness, Consumer Protection, Service Quality and Customer Satisfaction influence Customer Loyalty, the aforementioned relationship was explored among consumers of long-term insurance products in Namibia. The researcher embedded the study in the Services Marketing and User’s Satisfaction/Dissatisfaction theory and developed a framework for creating a more aware consumer and thus contribute to the growth and survival of the long-term insurance industry in Namibia. A survey was conducted using a questionnaire, among a judgmental sample of 407 long-term insurance consumers in Namibia and Structural Equation Modelling was used to analyse (eight) hypothesized relationships among the research constructs alluded to in the title of this study. In summary, it was ascertained that if the customers are fully aware (have sufficient knowledge of the products and their consumer rights), they will feel protected against unfair business practices. Furthermore, if they perceive having received quality services, they are more likely to be satisfied with the service provider and will therefore, remain loyal.
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Tjizumaue, Magreth B., and Krishna Govender. "Consumer Awareness, Consumer Protection, Service Quality and Loyalty: The Case of Long-term Insurance Consumers in Namibia." Restaurant Business 118, no. 8 (August 9, 2019): 172–89. http://dx.doi.org/10.26643/rb.v118i8.7507.
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Due to the absence of appropriate Consumer Protection legislation in Namibia, there seems to be a lack of consumer protection, which may result in consumers being exploited. Since the literature reveals that Consumer Awareness, Consumer Protection, Service Quality and Customer Satisfaction influence Customer Loyalty, the aforementioned relationship was explored among consumers of long-term insurance products in Namibia. The researcher embedded the study in the Services Marketing and User’s Satisfaction/Dissatisfaction theory and developed a framework for creating a more aware consumer and thus contribute to the growth and survival of the long-term insurance industry in Namibia. A survey was conducted using a questionnaire, among a judgmental sample of 407 long-term insurance consumers in Namibia and Structural Equation Modelling was used to analyse (eight) hypothesized relationships among the research constructs alluded to in the title of this study. In summary, it was ascertained that if the customers are fully aware (have sufficient knowledge of the products and their consumer rights), they will feel protected against unfair business practices. Furthermore, if they perceive having received quality services, they are more likely to be satisfied with the service provider and will therefore, remain loyal.
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Gowanit, Chupun, Natcha Thawesaengskulthai, Peraphon Sophatsathit, and Thitivadee Chaiyawat. "Mobile claim management adoption in emerging insurance markets." International Journal of Bank Marketing 34, no. 1 (February 1, 2016): 110–30. http://dx.doi.org/10.1108/ijbm-04-2015-0063.
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Purpose – The purpose of this paper is to explore the adoption of a mobile insurance claim system (M-insurance) and develops a framework for the adoption of M-insurance by consumers. Design/methodology/approach – This study assesses mobile technology for claim management through the lens of the technology acceptance model (TAM) and diffusion of innovation (DOI) models as a major guideline, using exploratory research through in-depth interviews with four executive experts who are first movers in mobile claim motor insurance in Thailand. Semi-structured interviews and open-ended questions were used to conduct group interviews of insurance consumers who mostly use smartphones. The data were collected in a qualitative research approach from Thai insurance consumers (n=177), and contents were classified and analysed to gain strong insights into respondent opinions, comments, attitudes, behaviour, and experiences. Findings – The results indicate that the external (social) factors influence attitude and behaviour of consumers which link to their intention to adopt M-insurance. These external factors include: preference for face-to-face service; confidence of insurers in accepting claim; and risk of claim knowledge that might cause legal issues among others. In application, the findings shall meaningfully enhance insurer firms’ improvement of adoption rate and development of future features and functions of M-insurance. Research limitations/implications – This study is based on insurance consumers in each region of Thailand but focuses only on mobile claim management for motor insurance. Although the findings bring new insight and understanding of consumer preferences and behaviours, they were not tested statistically. Practical implications – The study has practical implications for motor insurance claimants who are concerned over the complicated policy conditions, the perspective risk of claim knowledge and fault admission, and the on-site investigation by surveyor for another party. These are the guidance impediments to overcome M-insurance adoption improvement. Originality/value – Previously, TAM and DOI approaches have been employed to study general adoption of M-banking by quantitative research which confirmed descriptive data and tested the hypothesis, but neglected crucial data. However, M-insurance is different from M-banking in term of features and functions, purpose and process of usage, and legal liability. Therefore, this study is one of a few empirical studies that attempt to identify insightful factors to consumer uptake of M-insurance which is in its early stage and lacks an underpinning TAM model. This study contributes by identifying insights of “pull” factors to successfully develop M-insurance in Thailand.
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Ruefenacht, Matthias. "The role of satisfaction and loyalty for insurers." International Journal of Bank Marketing 36, no. 6 (September 3, 2018): 1034–54. http://dx.doi.org/10.1108/ijbm-10-2016-0152.
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PurposeThe purpose of this paper is to examine the crucial antecedents of satisfaction and loyalty for the insurance industry and discuss how customer satisfaction and loyalty can be increased.Design/methodology/approachA large-scale global survey is conducted among 11,736 insurance customers. To analyze the data, structural equation modeling is used to estimate the influence of the identified antecedents of satisfaction and loyalty.FindingsThe results reveal a positive relationship between satisfaction and attitudinal loyalty for the insurance industry. In addition, the individual cognitive-based dimensions of anticipated regret and product category knowledge significantly affect satisfaction. Furthermore, co-production and trust both positively affect satisfaction and attitudinal loyalty.Research limitations/implicationsThis study identifies relevant antecedents of satisfaction and attitudinal loyalty for the emerging literature of insurance marketing. Future studies in this domain should examine the influence of additional dimensions which were not part of the present work, such as perceived price fairness, service quality, and switching costs.Practical implicationsBy installing and maintaining efficient two-way communication channels, insurers can decrease customers’ anticipated regret and enhance product category knowledge, which, in turn, can increase customer satisfaction. In addition, frequent and honest communication should be used to build up trust and induce co-production, which positively affect satisfaction and attitudinal loyalty.Originality/valueThis paper identifies crucial antecedents of satisfaction and attitudinal loyalty for insurance companies. This research is timely, as previous works have largely neglected the idiosyncrasies of the insurance sector.
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Bamfo, Bylon Abeeku, and Courage Simon Kofi Dogbe. "Factors influencing the choice of private and public hospitals: empirical evidence from Ghana." International Journal of Pharmaceutical and Healthcare Marketing 11, no. 1 (April 3, 2017): 80–96. http://dx.doi.org/10.1108/ijphm-11-2015-0054.
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Purpose The study aims to examine the factors influencing the choice of private and public hospitals in Ghana. Design/methodology/approach Purposive and convenient sampling techniques were used in selection of 225 respondents for the study. An independent samples t-test was used in ascertaining the significant difference in the opinions of both groups. Finally, binary logistics regression was used in ascertaining the factors that significantly influenced the choice of hospitals in Ghana. Findings In Ghana, patients’ choice of private or public hospital was significantly influenced by service quality, word-of-mouth, type of ailment and National Health Insurance Scheme (NHIS). Patients who made choice decision based on service quality were more likely to attend a private hospital. Word-of-mouth influenced the choice of public hospitals more than private hospitals. Patients preferred visiting public hospitals for more complicated ailments such as spinal defects, HIV/AIDS, heart-related problems, etc. Patients registered under the NHIS also preferred visiting public hospital to private hospital. Although services from private hospitals were more expensive, patients were more satisfied with services provided, as compared to patients from the public hospital. Cost of service and patient satisfaction, however, did not have a statistically significant effect on the choice of hospital. Originality/value Most comparative studies done on private and public hospitals studied in isolation focused on service quality, customer satisfaction, national health insurance and cost of health care or a combination of them. This study, however, considered all these selection criteria and extended it by adding word-of-mouth and the type of ailments suffered. The study, thus, provided a more comprehensive hospital selection criteria. The use of logistics regression in this particular area of study was also quite unique.
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Yoo, Jaewon. "Perceived customer participation and work engagement: the path through emotional labor." International Journal of Bank Marketing 34, no. 7 (October 3, 2016): 1009–24. http://dx.doi.org/10.1108/ijbm-09-2015-0139.
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Purpose The purpose of this paper is to examine how service employee’s perceived customer participation influences beneficial deep acting behaviors among service personnel while dampening the development of the less-beneficial surface acting, which subsequently affects service employees’ work engagement. Specifically, the current research explores how the personal factors of customer orientation (CO) and employee-customer fit interact with the customer participation to ultimately develop either surface – or deep-acting behaviors. Design/methodology/approach Data for the study were collected from a cross-sectional sample of retail bank and insurance companies in South Korea. Questionnaires were distributed to 750 frontline employees of several banks and insurance companies. Of these, 518 questionnaires were used for further analysis. Findings The results indicate that perceived customer participation exhibits the predicted negative influence on surface acting as well as the positive effect on deep acting. Using the hierarchical moderated regression approach, the interaction effect of customer participation and CO on the service employees’ surface acting was found. Finally, the positive moderating effect of employee’s perceived fit with customers in the relationship between perceived customer participation and employees’ deep acting was supported. Research limitations/implications First, the specific service sectors chosen for this study are retail banking and insurance. Furthermore, the study was conducted among the frontline employees of banks and insurance companies in South Korea. Second, the study used single-source data, which are prone to common method variance. While the survey instrument was structured carefully with this in mind and the results suggested that method bias may not have been an issue in this study, this problem can best be avoided by collecting data from multiple sources. Third, this study is limited by its cross-sectional approach. The cross-sectional nature of the present study does not allow causal inferences. Practical implications This study provides a practical implication for managers to understand the importance of customer participation for relieving the negative effects of employee emotional labor. From a practitioner standpoint, examining the relationship between customer participation and emotional labor is of great importance given the benefits and costs associated with managing customer participation. Thus, managers should magnify the positive effect of perceived customer participation on emotional labor by increasing frontline employees’ understanding of customer participation. Second, the finding that CO plays a more critical role in the reduction of surface acting has important managerial implications. The recruitment and selection of frontline employees should incorporate an assessment of the level of CO. The results of this study strongly suggest that service organizations can greatly benefit from hiring individuals with a higher CO for frontline positions because CO signals a better job-person fit. Originality/value The present study is the first to link employees’ perceived customer participation with their attempts at emotional labor at work and to study how those attempts lead to work engagement. This research also shows that understanding how service employees’ CO moderates the effects of customer participation on beneficial deep acting and on destructive surface acting is important in that emotional labor is a potential driver of customers’ emotional states and subsequent assessments of service interaction. A third contribution of this study is the use of a new concept, which will be called person-customer fit (PCF), to reflect employees’ perceived fit with customers. Although many researchers have investigated the relationship between customers and frontline employees, the research has primarily focussed on the employees’ perceived fit with their organization and members of the organization and overlooked the importance of PCF.
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Wong, Y. H., Ricky Y. K. Chan, T. K. P. Leung, and Jae H. Pae. "Commitment and vulnerability in B2B relationship selling in the Hong Kong institutional insurance service industry." Journal of Services Marketing 22, no. 2 (April 25, 2008): 136–48. http://dx.doi.org/10.1108/08876040810862877.
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Yu, Tsu-Wei, and Feng-Cheng Tung. "Antecedents and consequences of insurer-salesperson relationships." Marketing Intelligence & Planning 32, no. 4 (May 27, 2014): 436–54. http://dx.doi.org/10.1108/mip-01-2013-0013.
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Purpose – The purpose of this paper is to explore the antecedents and consequences of insurer trust and salesperson trust, as well as the relationships between insurer, salesperson, and customer loyalty in order to build a conceptual model which investigates the relationships of insurer trust and salesperson trust, and finds ways to build trust and customer loyalty in the non-life insurance industry in Taiwan. Design/methodology/approach – The data for this study were collected from the customers of non-life insurers’ policyholder service centres and were analysed using in-depth interviews and questionnaires. Structural equation modelling (SEM) was to assess the proposed research model empirically. Findings – This study finds that firm size did not have a significant effect on insurer trust. Customer trust in the insurer was negatively but not significantly related to customer trust in the salesperson. Additionally, when relatives or friends are insurance salespersons; it is easy to build trust with them. Originality/value – This study provides non-life insurers with new avenues for promoting and marketing their insurance.
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O'Connor, Genevieve E. "Investigating the significance of insurance and income on health service utilization across generational cohorts." Journal of Financial Services Marketing 21, no. 1 (March 2016): 19–33. http://dx.doi.org/10.1057/fsm.2015.23.
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Tsvetkova, A. B., and R. Kh Yunisov. "Marketing Research of the Medical Institution in the System of Voluntary Medical Insurance for Making Managerial Decisions." Vestnik of the Plekhanov Russian University of Economics, no. 6 (December 18, 2018): 164–71. http://dx.doi.org/10.21686/2413-2829-2018-6-164-171.
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The segment of voluntary medical insurance is a promising type of insurance. This situation encourages insurers to develop advanced competitive products with continuously upgrading level of service. It is very important to pay special attention to legal and medical and economic protection of the ensured. It is clear that the insurance company needs data of marketing research for its efficient work. However, we should bear in mind that one party of the voluntary medical insurance is a medical institution, which is involved in the process and understands the importance of marketing information system data while signing the contract with the insurance company. Systematized data of the medical institution gives an opportunity to choose an optimal partner. The article using the example of NMHC named after N.I.Pirogov shows which data is analyzed by the medical institution and why and demonstrates how the mechanism of making decision about choosing the insurance company looks like. It was highlighted that using the internal information could allow the medical institution to save money and time necessary to process data and make the final decision. The authors ground recommendations for using the research in the process of signing the contract with the insurance company, a relevant model was built as an illustration.
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S. Johnson, Devon, and Mark Peterson. "Consumer financial anxiety." International Journal of Bank Marketing 32, no. 6 (August 26, 2014): 515–33. http://dx.doi.org/10.1108/ijbm-08-2013-0080.
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Purpose – The purpose of this paper is to examine how small and medium-sized, regional financial service firms reacted to the financial crisis by helping their customers cope with their heightened state financial anxiety during the Economic Crisis of 2008. It also examines the variety of strategies pursued by these firms to rebuild consumer trust in their brands in the ensuing years. Design/methodology/approach – The authors relied on grounded theory as a methodological approach to understand the unfolding situation of the financial crisis and to inductively develop a framework explaining managers’ experience with consumer financial anxiety and trust. Data collection involved key informant interviews with 20 CEOs and senior marketing and sales professionals of financial service firms in the USA. Findings – The study discloses a desire among many retail financial institutions to re-personalize their relationships with customers following the financial crisis. One motivating factor for this has been a demand by regulators for more evidence that the firm really knows its customers. The paper also found that some managers are ambivalent about mentioning regulatory oversight and Federal Deposit Insurance Corporation (FDIC) insurance to customers because it is unclear whether these issues heighten or reduce consumer fears. More research is needed to provide guidance to managers on how mention of regulatory oversight may be used strategically in a crisis. Research limitations/implications – This study was limited to regional financial service firms in the USA with assets of less than$1 billion. The extension of the study to compare other geographical markets or to large financial service firms remains to be done. This investigation could tell us whether consumers now trust regional banks more than they do large national banks, difference in the strategies they employed and whether they resulted in different rates of brand equity recovery. Practical implications – This paper suggests that the 2008 financial crisis may have resulted in permanent changes in consumer attitudes to financial services. As one manager suggested, “consumers have moved from a trust-me phase to a show-me phase.” This implies that financial service managers need to rethink how they build consumer trust. Such managers would do well to consider ways of integrating actions that reinforce the company's integrity and commitment to its customers into different stages of their firms’ relationships with consumers. Social implications – Many small and medium-sized banks are re-embracing community-banking practices including building strong personal relationships with stakeholders after years of underinvesting due to these banks’ pursuit of property development investments. As a result of these developments, a stronger financial services industry could likely emerge. Accordingly, trust for this battered industry among consumers could improve. Originality/value – This paper discuss how the depersonalization of customer interactions by financial services firms through increased use of electronic channels and the use of call centers as primary interaction points may have weakened customer relationships and worsened consumer anxiety during the 2008 financial crisis. Additionally, it discusses both the failure of regulatory oversight and the symbolic effects of the big bank failures and the Madoff scandal in heightening consumer fears. Based on managerial interviews the paper discusses how financial service firms countered consumer anxiety by providing social support to customers, by repersonalizing customer interactions, and by reconnecting with local community values.
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Mamchur, R., and Y. Tkachenko. "Analysis of integration processes of banking institutions and insurance companies in Ukraine." Bioeconomics and Agrarian Business 11, no. 3 (March 3, 2021): 69–76. http://dx.doi.org/10.31548/bioeconomy2020.03.069.
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The processes of globalization, technology improvement and increasing competition put banks and insurance companies in need of increasing and changing the range of their services. The requirement to increase the level of profitability of their own activities stimulates the integration processes of banks and insurance companies and is one of the options to increase the supply of financial assets and increase demand for them. Was determined that when considering the integration processes between banks and insurance companies, it is important to study such areas of cooperation as the joint formation and use of financial resources, the creation of joint financial products and the conduct of joint marketing policy. During the analysis was proved, that bank deposits occupy the largest share among all other financial instruments and, as a result, provide insurers with the largest share of financial income, and investing in the capital of insurance companies remains a priority source of credit and investment resources for banks. The article proves that in Ukraine the most promising in the functioning of banks and insurance companies is a form of cooperation such as banсassurance, as the population has a greater demand for banking products and trusts more banks than insurance companies do. This concept of cooperation will lead to a synergistic effect, i.e. the demand for the purchase of one product (banking) will facilitate the purchase of another (insurance), which is the main purpose of bancassurance. The study identified the main benefits of cooperation between banks and insurance companies, including increased service because of a combination of banking and insurance products, providing non-traditional banking services, creating sources of additional income, reducing the cost of certain insurance services.
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Yang, Sujin, and Sejin Ha. "Brand knowledge transfer via sponsorship in the financial services industry." Journal of Services Marketing 28, no. 6 (September 2, 2014): 452–59. http://dx.doi.org/10.1108/jsm-11-2013-0313.
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Purpose – The main aim of this study is to develop a framework of brand knowledge transfer through sponsorship for sponsors within an insurance industry in South Korea. To this end, this study explores: how pre-event brand knowledge and perceived sponsor–event fit contribute to post-event brand knowledge and if and how consumers’ attitudes toward insurance agents play a role as a moderator in the model. Brand knowledge is examined in terms of brand awareness and corporate image. Design/methodology/approach – Using a paper-and-pencil survey method, data were gathered from consumers (n = 330) who participated in a parenting education program in which an insurance company partnered with a baby food manufacturer in South Korea. Hypotheses were tested using structural equation modeling. Findings – The results confirm the occurrence of brand knowledge transfer for sponsors via sponsorship. Pre-event brand awareness and corporate image affect post-event brand awareness and corporate image, respectively, while perceived event–sponsor fit affects both attributes of post-event brand knowledge. Further, consumer attitude toward sales agents partially moderates brand knowledge transfer. Research limitations/implications – Because the data focused on a single segment of sponsorship events in the financial service industry in South Korea, the results must be carefully applied to other forms of sponsorship, industries and cultures. Practical implications – This study highlights the effectiveness of sponsorship in the financial services industry. By aligning sponsorship events with sponsors’ characteristics and managing their brand knowledge, companies can maximize brand knowledge transfer contributing to brand equity. Originality/value – This study identifies consumers’ pre-extant attitudes toward sales agents as a moderator that controls brand knowledge transfer, the pre-event and post-event corporate image relationship, specifically.
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Ghasemaghaei, Maryam, Seyed Pouyan Eslami, Ken Deal, and Khaled Hassanein. "Reviews’ length and sentiment as correlates of online reviews’ ratings." Internet Research 28, no. 3 (June 4, 2018): 544–63. http://dx.doi.org/10.1108/intr-12-2016-0394.
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Purpose The purpose of this paper is twofold: first, to identify and validate reviews’ length and sentiment as correlates of online reviews’ ratings; and second, to understand the emotions embedded in online reviews and how they associate with specific words used in such reviews. Design/methodology/approach A panel data set of customer reviews was collected for auto, life, and home insurance from January 2012 to December 2015 using a web scraping technique. Using a sentiment analysis approach, 1,584 reviews for the auto, home, and life insurance services of 156 insurance companies were analyzed. Findings The results indicate that, since 2013, consumers have generally had more negative emotions than positive ones toward insurance services. The results also show that consumer review sentiment correlates positively and review length correlates negatively with consumer online review ratings. Furthermore, a two-way ANOVA analysis shows that, in general, short reviews with positive sentiment are associated with high review ratings. Practical implications The findings of this study provide service companies, in general, and insurance companies, in particular, with important guidelines that should be considered to increase consumers’ positive attitude toward their services. Originality/value This paper highlights the importance of sentiment analysis in identifying consumer reviews’ emotions and understanding the associations and interactions of reviews’ length and sentiment on online review rating, which can lead to improved marketing strategies.
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Irvan Rolyesh Situmorang and Wilys Hendrian. "PENGARUH PREMI ASURANSI DAN KUALITAS PELAYANAN TERHADAP KEPUASAN NASABAH PT. ASURANSI JIWA SEQUIS LIFE MEDAN." Jurnal Manajemen Bisnis Eka Prasetya : Penelitian Ilmu Manajemen 5, no. 2 (February 16, 2020): 28–36. http://dx.doi.org/10.47663/jmbep.v5i2.25.
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This research aims to analyze the influence of Insurance Premium and Service Quality on Customer Satisfaction at PT. Asuransi Jiwa Sequis Life Rising Star Agency Medan., to analyze the influence of Insurance Premium on Customer Satisfaction at PT. Asuransi Jiwa Sequis Life Rising Star Agency Medan., and to analyze the influence of Service Quality on Customer Satisfaction at PT. Asuransi Jiwa Sequis Life Rising Star Agency Medan The research methodology used quantitative descriptive method. Data type which was used in this study was quantitative data, which is obtained in number form. Data sources were primary and secondary data. Primary data was obtained from questionnaire distribution to who bought Q Smart Life insurance policy product at PT. Asuransi Jiwa Sequis Life Rising Star Agency Medan, and secondary data obtained from data and literature relating to this research. The population in this research was the people who bought Q Smart Life insurance policy product at PT. Asuransi Jiwa Sequis Life Rising Star Agency Medan, which numbered around 26.550 people. By using the Slovin formula, then totally of sample was 100 people. Data was analyzed by using multiple linear regression analysis method. Results of the analysis showed that Insurance Premium had a positive and significant influence on Customer Satisfaction based on partial. The results also showed that Service Quality had a positive and significant influence on Customer Satisfaction based on partial.
And finally it showed that Insurance Premium and Service Quality had a positive and significant influence on Customer Satisfaction Interest based on simultaneously. This research hypothesis results was supported 62.9%, which meant that Insurance Premium and Service Quality simultaneously had 62.9% influence on Customer Satisfaction at PT. Asuransi Jiwa Sequis Life Rising Star Agency Medan. While the remaining about 37.1% was influenced by other variables which was not examined in this research example economic situation, brang image and marketing mix.