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Article
Publication date: 6 April 2012

Irinja Mäenpää

This paper aims to examine the extent of and key determinants for bank and insurance provider selection and usage by business customers from the small to medium‐sized…

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2189

Abstract

Purpose

This paper aims to examine the extent of and key determinants for bank and insurance provider selection and usage by business customers from the small to medium‐sized enterprise (SME) segment, thereby aiming to increase understanding of the drivers of customers' cross‐buying behaviour across these financial service sectors.

Design/methodology/approach

Semi‐structured interviews were carried out with key decision makers from 22 SMEs within one country. Content analysis was employed to analyse the data.

Findings

Empirical findings suggest use of multiple banks as the norm among SMEs, whereas insurances are dominantly purchased from a single provider. As SME customers appear to prefer using separate, independent providers for their banking and insurance services, absence of customer loyalty programs, unfavourable pricing of the total offering and image conflicts were identified as main factors limiting the willingness to cross‐buy across these financial services sectors.

Research limitations/implications

This qualitative research is focused on the financial industry within one country and bound to smaller business customers, limiting the generalisability of the findings.

Practical implications

The results imply that in order to succeed in cross‐selling bank and insurance services in the SME segment, financial service providers should improve their cross‐selling concepts by creating customer loyalty programs that would reward customer companies according to the use of multiple products in their total portfolio.

Originality/value

This study is the first to describe the customer perceived drivers of cross‐buying bank and insurance services from the same service provider in the business‐to‐business context.

Details

International Journal of Bank Marketing, vol. 30 no. 3
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 18 May 2015

Genevieve Elizabeth O'Connor

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…

Abstract

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.

Details

International Journal of Bank Marketing, vol. 33 no. 3
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 1 December 1995

Dawn Bendall and Patrick Asubonteng

Examines the primary studies which have contributed to dental careresearch. By reviewing background information, lays a foundation for thereview of the current empirical…

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874

Abstract

Examines the primary studies which have contributed to dental care research. By reviewing background information, lays a foundation for the review of the current empirical evidence, which examines the effect of dental insurance coverage on the oral health of the American population, as well as the utilization and demand for dental services. Raises questions and implications for future research and practice.

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Journal of Management in Medicine, vol. 9 no. 6
Type: Research Article
ISSN: 0268-9235

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Article
Publication date: 1 February 1980

Richard M.S. Wilson

In this introductory overview an indication of the range of financial services that is available will be presented, along with some examples of marketing practices in…

Abstract

In this introductory overview an indication of the range of financial services that is available will be presented, along with some examples of marketing practices in relation to these services and some observations about some of the suppliers of financial services. This coverage will then be followed by a brief review of research in the field of financial services marketing, a note on careers in this field, and a summary of courses in the field.

Details

Managerial Finance, vol. 5 no. 3
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 August 1999

Alan Zimmerman

Barriers, especially non‐tariff barriers (NTBs), have been shown to have an important impact upon international trade in services. Foreign direct investment and market…

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5882

Abstract

Barriers, especially non‐tariff barriers (NTBs), have been shown to have an important impact upon international trade in services. Foreign direct investment and market entry strategy theory do not adequately address the importance of NTBs in the decision‐making process. Previous studies indicate that service firms need to establish local presence to be successful in a foreign market. Where firms are unable to enter a market because it is blocked by trade barriers, some researchers suggest managers engage in specific entry strategies or strategic actions to overcome barriers. This study, based on in‐depth interviews with insurance executives, shows that trade barriers are one of several factors managers evaluate when deciding whether to enter a market. However, barriers can become a critical factor if they create prohibitive costs or difficulties. Based on the findings, this study proposes a new model of market entry decision making which hypothesizes that barriers can become a go/no‐go decision factor.

Details

Journal of Business & Industrial Marketing, vol. 14 no. 3
Type: Research Article
ISSN: 0885-8624

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Article
Publication date: 1 February 2016

Chupun Gowanit, Natcha Thawesaengskulthai, Peraphon Sophatsathit and Thitivadee Chaiyawat

– 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.

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1580

Abstract

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.

Details

International Journal of Bank Marketing, vol. 34 no. 1
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 9 January 2019

Joanna Khoo, Helen Hasan and Kathy Eagar

The purpose of this paper is twofold: first, to present patient-level utilisation patterns of hospital-based mental health services funded by private health insurers; and…

Abstract

Purpose

The purpose of this paper is twofold: first, to present patient-level utilisation patterns of hospital-based mental health services funded by private health insurers; and second, to examine the implications of the findings for planning and delivering private mental health services in Australia.

Design/methodology/approach

Analysing private health insurance claims data, this study compares differences in demographic and hospital utilisation characteristics of 3,209 patients from 13 private health insurance funds with claims for mental health-related hospitalisations and 233,701 patients with claims for other types of hospitalisations for the period May 2014 to April 2016. Average number of overnight admissions, length of stay and per patient insurer costs are presented for each group, along with overnight admissions vs same-day visits and repeat services within a 28-day period following hospitalisation. Challenges in analysing and interpreting insurance claims data to better understand private mental health service utilisation are discussed.

Findings

Patients with claims for mental health-related hospitalisations are more likely to be female (62.0 per cent compared to 55.8 per cent), and are significantly younger than patients with claims for other types of hospitalisations (32.6 per cent of patients aged 55 years and over compared to 57.1 per cent). Patients with claims for mental health-related hospitalisations have significantly higher levels of service utilisation than the group with claims for other types of hospitalisations with a mean length of stay per overnight admission of 15.0 days (SD=14.1), a mean of 1.3 overnight admissions annually (SD=1.2) and mean hospital costs paid by the insurer of $13,192 per patient (SD=13,457) compared to 4.6 days (SD=7.3), 0.8 admissions (SD=0.6) and $2,065 per patient (SD=4,346), respectively, for patients with claims for other types of hospitalisations. More than half of patients with claims for mental health-related hospitalisations only claim for overnight admissions. However, the findings are difficult to interpret due to the limited information collected in insurance claims data.

Practical implications

This study shows the challenges of understanding utilisation patterns with one data source. Analysing insurance claims reveals information on mental health-related hospitalisations but information on community-based care is lacking due to the regulated role of the private health insurance sector in Australia. For mental health conditions, and other chronic health conditions, multiple data sources need to be integrated to build a comprehensive picture of health service use as care tends to be provided in multiple settings by different medical and allied health professionals.

Originality/value

This study contributes in two areas: patient-level trends in hospital-based mental health service utilisation claimed on private health insurance in Australia have not been previously reported. Additionally, as the amount of data routinely collected in health care settings increases, the study findings demonstrate that it is important to assess the quality of these data sources for understanding service utilisation.

Details

Journal of Health Organization and Management, vol. 33 no. 1
Type: Research Article
ISSN: 1477-7266

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Article
Publication date: 1 February 1995

Göran Bergendahl

Develops principles for banks that want to evaluate thedistribution of life insurance as well as non‐life insurance productsand identifies key factors for profitability…

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4101

Abstract

Develops principles for banks that want to evaluate the distribution of life insurance as well as non‐life insurance products and identifies key factors for profitability. Analyses the costs of training personnel, the costs of computers and communication, the fixed and variable sales costs, and the costs of administration including customer service. These costs have to be covered by direct benefits in terms of commissions and indirect benefits in terms of more faithful bank customers. Then estimates the profitability of the distribution through a branch network. Develops a model to calculate the “break‐even” sales volume. Identifies five key factors: the number of branches; the number of specialists per branch; the number of customers to the bank; the cross‐selling ratio; and the reduction over time in costs of selling and administration. Gives two examples from the banking sector.

Details

International Journal of Bank Marketing, vol. 13 no. 1
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 31 May 2018

Pascal Buehler and Peter Maas

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…

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1271

Abstract

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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Article
Publication date: 1 March 2003

Mathew Joseph, George Stone and Krista Anderson

Increased competition from their traditionally, “non‐insurance” partners in the financial services industry has forced “insurance only” companies to enter areas once…

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5585

Abstract

Increased competition from their traditionally, “non‐insurance” partners in the financial services industry has forced “insurance only” companies to enter areas once considered exclusively part of the financial services market. The melding of the insurance, banking, and brokerage industries into one composite financial service industry has created confusion in the minds of many customers who were once able to delineate neatly company product lines. In order to remain competitive in a deregulated industry that has more or less encroached on all financial service providers, insurance companies and their sales representatives have had to reevaluate their traditional methods of attracting and keeping customers. To be successful in this endeavor, agents must take a closer look at just how they treat their customers. Therefore, examines a model proposed as an instrument to assess some of the possible determinants of customer loyalty. The model is based on agents’ ability to deliver on factors related to service quality. The measurement scale used in the study is based on the importance/performance paradigm. The results, somewhat surprisingly, indicate that respondents believe their individual agent is performing at an above average level. Provides conclusions and recommendations.

Details

Journal of Small Business and Enterprise Development, vol. 10 no. 1
Type: Research Article
ISSN: 1462-6004

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