The insurance market has high churn rates because customers’ purchase decision-making process and claims management rely heavily on intermediaries. The purpose of this paper is to investigate the role played by insurers and intermediaries in customer satisfaction, as well as in the preferences of customers regarding the purchase decision-making process.
The first step was to select the most important attributes for Portuguese insurance customers. Three focus groups were conducted (using B2C and B2B markets), and data from Portuguese car insurance customers were gathered through an ad hoc questionnaire. Structural equation models and the multidimensional scaling unfolding model were applied.
Intermediaries play a key role in the retail insurance distribution channels by influencing customer satisfaction, claims management and the purchasing process (premium acceptance).
Because of the influence that intermediaries have on customer satisfaction, insurers should improve their partnerships (back office support) with intermediaries.
The study contributes to the retail distribution literature of the insurance sector by providing empirical evidence of the impact of intermediaries on customers’ satisfaction.
The author is very grateful to the Editor Professor Neil Towers for the initial thoughtful report and recommendations. The author would also like to thank the anonymous reviewers for their thorough and thoughtful reports and recommendations.
Dominique-Ferreira, S. (2018), "The key role played by intermediaries in the retail insurance distribution", International Journal of Retail & Distribution Management, Vol. 46 No. 11/12, pp. 1170-1192. https://doi.org/10.1108/IJRDM-10-2017-0234Download as .RIS
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