Consumer Awareness, Consumer Protection, Service Quality and Loyalty: The Case of Long-term Insurance Consumers in Namibia

2019 ◽  
Vol 118 (10) ◽  
pp. 411-428
Author(s):  
Magreth B Tjizumaue ◽  
Krishna Govender
Keyword(s):  
Service Quality ◽  
Consumer Protection ◽  
Structural Equation ◽  
Insurance Industry ◽  
Business Practices ◽  
Consumer Awareness ◽  
Growth And Survival ◽  
Term Insurance ◽  
Protection Legislation

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.

Consumer Awareness, Consumer Protection, Service Quality and Loyalty: The Case of Long-term Insurance Consumers in Namibia

2019 ◽  
Vol 118 (8) ◽  
pp. 172-189
Author(s):  
Magreth B Tjizumaue ◽  
Krishna Govender
Keyword(s):  
Service Quality ◽  
Consumer Protection ◽  
Structural Equation ◽  
Insurance Industry ◽  
Business Practices ◽  
Consumer Awareness ◽  
Growth And Survival ◽  
Term Insurance ◽  
Protection Legislation

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.

scholarly journals Portfolio management practices of investment practitioners active in the long-term insurance industry

2001 ◽  
Vol 4 (2) ◽  
pp. 344-358
Author(s):  
J. H. Mostert ◽  
S. J. Steel ◽  
F. J. Mostert
Keyword(s):  
Empirical Study ◽  
Portfolio Management ◽  
Management Practices ◽  
Insurance Industry ◽  
Investment Decisions ◽  
General Information ◽  
Financial Investment ◽  
Decisionmaking Process ◽  
Term Insurance

In the long-term insurance industry, sound financial investment decisions depend largely on the portfolio management practices of the investment practitioners concerned. The ability of the investment practitioners to make well-informed decisions, as well as the strategies and policies underlying portfolio management practices, are the main issues of this research. Important correlations amongst various aspects of the financial investment decisionmaking process, as well as their association with the general information pertaining to the long-term insurers (which were disclosed during the empirical study), emerge in the closing section of this paper. The conclusions should be of prime interest to long-term insurers as well as investment practitioners who are working in that industry.

The effects of hotel green business practices on consumers’ loyalty intentions: an expanded multidimensional service model in the upscale segment

2020 ◽  
Vol 13 (12) ◽  
pp. 3787-3807
Author(s):  
Guy Assaker
Keyword(s):  
Service Quality ◽  
Structural Equation ◽  
Perceived Value ◽  
Measurement Model ◽  
Equation Modeling ◽  
Business Practices ◽  
Service Model ◽  
Content Type ◽  
Green Practices ◽  
Hotel Service Quality

Purpose This study aims to present and empirically examines an expanded service model that incorporates green hotel practices together with a multidimensional/higher-order measurement model of service quality, as well as perceived value and satisfaction, to examine the relationships among these variables and hotel consumers’ loyalty/behavioral intentions (BI). Design/methodology/approach The model was examined using partial least squares structural equation modeling (PLS-SEM) using data gathered in August 2018 from 200 surveys completed by UK subjects who stayed at upscale European hotels. Findings The results of PLS-SEM found that hotel service quality has a direct and positive effect on perceived value, satisfaction and BI. There is also an indirect effect of service quality on BI through perceived value and satisfaction, while green practices only had a direct effect on perceived value, not satisfaction or BI. Research limitations/implications This study offers new insights into the network of causal relationships among determinants of hotel consumers’ BI. The results offer hotel operators a better understanding of specific green practices and service quality attributes they can use to more favorably influence consumers’ intentions to revisit the property and recommend them through positive word-of-mouth. Originality/value This research is particularly relevant in today’s reality characterized by travelers’ growing concern for green issues and business’ responsibilities toward the environment. Moreover, unlike previous studies, this study assumes a multidimensional scheme for service quality, further enhancing the understanding of hotel consumers’ BI relationships.

An assessment of service quality and resulting customer satisfaction in Pakistan International Airlines

2015 ◽  
Vol 32 (5) ◽  
pp. 486-502 ◽  
Author(s):  
Faizan Ali ◽  
Bidit Lal Dey ◽  
Raffaele Filieri
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Structural Equation ◽  
Convenience Sample ◽  
Content Type ◽  
Quality Dimensions ◽  
Service Quality Dimensions ◽  
International Airlines

Purpose – The purpose of this paper is to assess foreigners and overseas Pakistanis’ evaluation of the quality of the services provided by Pakistan International Airlines (PIA) and its effect on customer satisfaction. Design/methodology/approach – A convenience sample of 498 respondents was used to test the hypotheses of the study through structural equation modelling. Findings – The results of this study indicate that all of the hypotheses are supported and customer satisfaction of PIA customers is influenced by all of the five service quality dimensions (AIRQUAL), including airline tangibles, terminal tangibles, personnel, empathy, and image. Research limitations/implications – This research examines the relationship between service quality dimensions and customer satisfaction. The study focuses on the evaluation of overseas Pakistanis and foreigners regarding the service quality of PIA. The main limitation of this study is that it focuses on PIA: thus, the results cannot be generalised. Practical implications – The results indicate that managers should focus on different dimensions of airline service quality in order to enhance customer satisfaction. Originality/value – This study would enable PIA to have a better understanding of the effects of service quality, which will lead to passengers’ satisfaction and encourage the development of long-term relationships with their customers.

Customers’ emotional reactions in the banking industry

2015 ◽  
Vol 33 (3) ◽  
pp. 243-260 ◽  
Author(s):  
Veljko Marinkovic ◽  
Vladimir Obradovic
Keyword(s):  
Service Quality ◽  
Structural Equation ◽  
Affective Commitment ◽  
Banking Industry ◽  
Emotional Reactions ◽  
Equation Model ◽  
Central Position ◽  
Content Type ◽  
Antecedents And Consequences

Purpose – The purpose of this paper is to identify antecedents and consequences of customers’ emotional reactions in the banking industry. In this context, a model based on segmenting all variables into three segments is proposed. Design/methodology/approach – The research was conducted on a sample of 211 respondents. Data analysis was conducted in AMOS 18. In order to assess the overall model fit, confirmative factor analysis (CFA) was used. To test the research hypotheses, a structural equation model was used. Findings – The research results indicate that trust, social bonds, image and service quality are statistically significant drivers of satisfaction. Of these variables, only service quality has no significant impact on affective commitment. Trust stands out as the variable with the greatest impact on customer emotional responses. Satisfaction is also an important determinant of customers’ behavioral intentions. Practical implications – Results of the present study indicate that management should pay considerable attention to strengthening intangible elements that imply the development of long-term relationships with clients. Originality/value – By designing a new model that includes antecedents and consequences of emotional reactions of customers, the present research contributes to theory in the field of services marketing. The model is characterized by its three-tier structure, whereby satisfaction and affective commitment occupy a central position.

scholarly journals MEASURING GROCERY STORES SERVICE QUALITY IN INDONESIA: A RETAIL SERVICE QUALITY SCALE APPROACH

2017 ◽  
Author(s):  
Leonnard Leonnard
Keyword(s):  
Service Quality ◽  
Structural Equation ◽  
Consumer Perceptions ◽  
Grocery Store ◽  
Equation Modeling ◽  
Grocery Stores ◽  
Quality Scale ◽  
Retail Service ◽  
Retail Service Quality

<p><em>The growing number of modern grocery stores in Indonesia is a challenge for each grocery store to maintain and increase their number of consumers. The success of maintaining and improving service quality will affect long-term profitability and business sustainability. Therefore, in this study, we examined consumer perceptions of service quality in one of modern grocery stores in Indonesia. Data were collected from 387 consumers of grocery stores in Jakarta, Bogor, Depok, Bekasi, Cibubur, and Subang. Structural Equation Modeling (SEM) through Maximum likelihood and Bayesian estimation was employed to analyze the data. The finding indicated that the five indicators of the retail service quality scale consisting of physical aspects, reliability, personal interactions, problem solving and policies provided  valid multi-item instruments in measuring consumer perceptions of service quality in grocery stores.</em></p>

Service quality, customer satisfaction and customer value: holistic determinants of loyalty and word-of-mouth in services

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anabela Maria Bello de Figueiredo Marcos ◽  
Arnaldo Fernandes de Matos Coelho
Keyword(s):  
Service Quality ◽  
Customer Value ◽  
Structural Equation ◽  
Direct Relationship ◽  
Word Of Mouth ◽  
Insurance Industry ◽  
Perceived Value ◽  
Equation Modeling ◽  
Content Type ◽  
The Relationship

PurposeThe objective of this paper is to understand the relationships between service quality, perceived value and satisfaction because several studies endeavored to model these linkages. It is important to test these relationships with loyalty and word-of-mouth (WOM). Thus, it is important to test these relationships in the insurance sector since the relationship between these variables and WOM has not been studied in insurance.Design/methodology/approachThis investigation proposes a theoretical model tested using structural equation modeling (SEM). A questionnaire survey was developed to explore the relationships among service quality, perceived value, satisfaction, loyalty and WOM. For this study, 744 valid questionnaires were collected from a sample of Portuguese car insurance holders.FindingsThe results revealed that service quality has a direct relationship with perceived value and satisfaction. In turn, perceived value has a direct relationship with satisfaction. Perceived value and satisfaction influence loyalty and WOM. Finally, loyalty influences WOM.Originality/valueThis investigation examines the mediating role of perceived value and satisfaction in the relationship between service quality (facility and interactive) and loyalty and WOM in the insurance industry. It fills a gap in the literature by exploring the variables that lead to positive WOM in the insurance industry; the authors do not know any study that links these variables with WOM. Also, the relationship between loyalty and WOM has been poorly studied, although it is well known that in services, loyal customers speak well of the companies. Thus, the authors try to fill this gap in the academic literature by analyzing these relationships.

Enterprise Risk Management Maturity Levels of the Insurance Industry in Botswana

2021 ◽  
Vol 2 (Issue 1 (January to March 2021)) ◽  
pp. 23-32
Author(s):  
Moreblessing Ngwenya ◽  
Sam Ngwenya
Keyword(s):  
Risk Management ◽  
Insurance Industry ◽  
Continuous Process ◽  
Enterprise Risk Management ◽  
Insurance Companies ◽  
Maturity Model ◽  
Enterprise Risk ◽  
Term Insurance ◽  
Risk Maturity

Enterprise Risk Management (ERM) has become a necessity in the financial sector to fulfil stakeholder expectations. Studies confirm that ERM impacts positively on the performance of firms. The main objective of the study was to assess ERM maturity levels of the insurance industry in Botswana. This was achieved through first designing a framework to measure enterprise risk management maturity levels. The ERMMF incorporated elements from COSO’s ERM framework and the AON risk maturity model obtained through literature review. Data were sourced from four strata; 9 long term insurance companies (15 respondents), 11 short-term insurance companies (19 respondents), 3 reinsurers (5 respondents), and 44 brokerages (75 respondents). While all organisations in the population were used, a sample of 114 out of possible 134 respondents was used. Data were analysed using SPSS version 16. The findings revealed that the insurance industry in Botswana had somewhat implemented ERM. It is therefore recommended that the insurance industry in Botswana should take ERM as a continuous process for growth in ERM maturity levels as such an improvement is highly likely to enhance their performance.

scholarly journals Customers trust mediation: effect of CSR and service quality towards e-WOM

2019 ◽  
Vol 6 (4) ◽  
pp. 169-173 ◽  
Author(s):  
Ni Made Rastini ◽  
Nyoman Nurcaya
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Service Quality ◽  
Structural Equation ◽  
Mediation Effect ◽  
Equation Modeling ◽  
Collection Data ◽  
Corporate Social ◽  
Customer Trust

This study aims to explain the effect of Corporate Social Responsibility activities, service quality on customer trust in PT. Bali Regional Development Bank and explained that customer trust encourages customers to do e-word of mouth to others. To achieve this goal, 100 people are used by Bank X customers spread across Bali Province and will be taken by purposive sampling with questionnaires as the method of data collection. Data is processed using Structural Equation Modeling analysis tools. The results of this study indicate that trust mediates the effect of service quality and corporate social responsibility to e-WOM at PT Bank X. The results of this study are expected to be able to contribute ideas to the banking industry, especially PT. Bank X in building long-term trust. The long-term trust of customers will make PT. Bank X can still compete and even be superior to other banks operating in Bali Province. The advantages of PT. BPB Bali will affect the pace of development in Bali Province through the assistance of MSMEs as one of the CSR programs that it does.

scholarly journals Understanding the use of strategic intelligence as a strategic management tool in the long-term insurance industry in South Africa

2011 ◽  
Vol 13 (1) ◽  
Author(s):  
René Pellissier ◽  
J-P. Kruger
Keyword(s):  
Strategic Management ◽  
South African ◽  
Response Rate ◽  
Insurance Industry ◽  
Business Environment ◽  
Management Tool ◽  
The South ◽  
Strategic Intelligence ◽  
Term Insurance

The purpose of this research paper was to explore the extent to which strategic intelligence is utilised within the South African long-term insurance industry and whether it could be used to identify opportunities or threats within the global environment to remain competitive, create greater innovation, and corporate advantage.The paper obtained the qualitative views and opinions of strategic decision makers, on an executive managerial level within the South African long-term insurance industry, on their organisations use of strategic intelligence. It was found that there are marked differences in the conformity and usage of strategic intelligence and its components between the organisations surveyed, with a measurable difference between large and small organisations. It is, however, generally viewed that the use of a strategic intelligence framework could greatly enhance decision-making.Data collection for the research undertaken was limited to the 82 long-term insurance companies, which were registered with the South African Financial Services Board. More specifically the focus was on the organisations listed on the Johannesburg Securities Exchange within the Life Assurance sector, within which a final response rate of 36.1% was achieved, including the 100% response rate from the six listed organisations.By understanding the extent to which strategic intelligence is utilised in the South African longterminsurance industry, and the benefits or problems that are experienced by implementing and using strategic intelligence as an input to the strategic management process we can comprehend the value that strategic intelligence adds in the decision making process. The originality of this work concludes in the identification and utilisation of the most important factors of a strategic intelligence framework that will greatly enhance global corporate decisionmakingand result in competitive advantage and constant innovation within the South African business environment.

Sign in / Sign up

Export Citation Format

Share Document