The Image of non-life insurance companies affecting customer loyalty in non-life insurance business in Thailand
Keywords:
Image, Customer Loyalty, Non-Life InsuranceAbstract
This research aims to 1) study the level of brand image and the loyalty of customers in non-life insurance business in Thailand, 2) study the relationship between brand image factors and customer loyalty in non-life insurance business, and 3) examine the influence of the customer’s career as the moderator on the brand image and customer loyalty in non-life insurance business. Quantitative research was used. Data was collected from 446 customers of non-life insurance business using a questionnaire and quota sampling. The data was analysed using descriptive and inferential statistics, including frequencies, percentages, means, standard deviations, and multiple linear regressions. Research results revealed that customers had a high level of perceived brand image and had a moderate level of the loyalty. Results from multiple linear regression revealed that image factors of non-life insurance company had a statistical influence on the loyalty of customers in non-life insurance business in Thailand. Therefore, the customer’s career had influenced as the moderator as well. In regard to recommendations, non-life insurance companies should be made aware of the importance of enhancing the image of the organization, seriously due to the brand image is a key element in their business operations that related to the trust of the customer.
References
Boonpanick, V. (2010). Image And Distinguished Characteristics of Bangkok Insurance Public Company Limited, Consumer’s Trust and Tendency of Using Services in Bangkok Metropolitan Area. Master of Business Administration, Marketing, Srinakharinwirot University. (In Thai).
https://www.oic.or.th/th/education /insurance/disaster/meaning.
Ketkaew. P. (2008). The Relationship between Perceptions of Job Characteristics, Adversity Quotient, And Joy at Work of Nurses at Operative Nursing Division. Master of Arts, Industrial and Organizational Psychology, Faculty of Arts, Thammasat University. (In Thai).
Khemnoi, K. (2011). Image And the Quality of Service Impacting the Loyalty of Customers of The Government Savings Bank Samut Sakhon Zone. Master of Business Administration, Entrepreneurship, Graduate School, Silpakorn University. (In Thai).
Kiatcharoen, J. (2012). Image of Kasikorn Bank Public Company Limited, Pinklao Branch Affecting Customer Loyalty. Master of Business Administration, Entrepreneurship, Graduate School, Silpakorn University. (In Thai).
Kumha, M. (2012). The Effects of Consumer - Oriented Management on Customer Loyalty of Hotel Businesses in Thailand. Master of Business Administration, Strategy Management, Mahasarakham University. (In Thai).
Office of Insurance Commission. (2016). Definition of Non-Life Insurance, (in Thai).
Office of Insurance Commission. (2022). Registration information of non-life insurance companies, (In Thai). https://www.oic.or.th/th/industry/statistic/data/36/2.
Patthanakitthanachot, K. & Wanarat, S. (2022). A Structural Equation Modeling of The Effects of Logistics Service Quality on The Customer Satisfaction, Trust and Loyalty in E-commerce Business. Kasetsart Applied Business Journal, 16(24), 29-48. (In Thai),
Prachachat Business. (2021). Insurance company in the era of Covid. How many businesses have closed? After having to meet the policy, meet-pay-finish! (In Thai). https://www.prachachat.net/general%20/news- 852161.
Prachachat Business. (2021). Syn Mun Kong Insurance cancel the covid policy meet-pay- finish, (in Thai). https://www.prachachat.net/ finance/news-715562.
Promban, P. (2019). The Study of Employee Service Quality Factors Affecting Automotive Insurance customer loyalty in Bangkok and its vicinity. Master of Business Administration, Industrial Business and Human Resource Development, Graduate School, King Mongkut’s University of Technology North Bangkok. (In Thai).
Rattanaphan, P., Rattanaphan, M., Thongchim, P., & Thongsaenoe, N. (2019). Consumer perception of life insurance business image in Thailand (Research report). https://lifeif.or.th/page/listview/13/66
Rittigul, P. (2016). Identity and Corporate Image Recognition that can Affect the Fidelity on Loyalty of Foreign Banks: A Case Study of Industrial and Commercial Bank of China (Thai) Public Company Limited. Master of Business Administration, Business Administration, Prince of Songkla University. (In Thai).
Srirattanathamrong, T. (2014). Corporate Image Affecting Customer Loyalty of Mercedes-Benz Leasing Thailand Co., Ltd. Master of Business Administration, Business Administration, Graduate School, Silpakorn University. (In Thai).
Suebsakulkan, P. (2016). The Relationship Between Quality of Service and Loyalty Among Customers of Muang Thai Life Insurance Company Limited: A Case Study of Chachoengsao Province. Master of Public Administration, Business Administration, Graduate School of Public Administration, Burapha University. (In Thai).
Sukdarunpattha, T. & Iamratanakul, S. (2017). The Beauty Pageant's Image to A Society. Kasetsart Applied Business Journal, 11(14), 38-52. (In Thai).
Supapolsiri, K. (2011). Image of the Leading Private Hospital and Loyalty Among Customers. Master of Communication Arts, Communication Arts, Faculty of Communication Arts, Chulalongkorn University. (In Thai).
Thaipost. (2021). The Insurance Business is Smiling and Making a Huge Profit., (in Thai). https://www.thaipost.net/main/detail/95006.
Abtin, A., & Pouramiri, M. (2016). The Impact of Relationship Marketing on Customer Loyalty Enhancement (Case study: Kerman Iran insurance company). In Marketing and Branding Research, 3, 41-49.
Cai, W., Lysova, E. I., Bossink, B. A. G., Khapova, S. N., & Wang, W. (2019). Psychological Capital and Self-Reported Employee Creativity: The Moderating Role of Supervisor Support and Job Characteristics. Creativity and Innovation Management, 28(1), 30–41.
Cronbach, L. J. (1951). Coefficient Alpha and The Internal Structure of Tests. Psychometrika, 16(3), 297-334.
Hackman, J. R., & Oldham, G. R. (1975). Development of the Job Diagnostic Survey. Journal of Applied Psychology, 60(2), 159–170.
Holland, P. J., Cooper, B., & Hecker, R. (2015). Electronic Monitoring and Surveillance in The Workplace: The Effects on Trust in Management, And the Moderating Role of Occupational Type. Personnel Review, 44(1), 161–175.
Hoy, W. K., & Rees, R. (1974). Subordinate Loyalty to Immediate Superior: A Neglected Concept in the Study of Educational Administration. Sociology of Education, 47(2), 268-286.
Kim, S., Lee, J., & Prideaux, B. (2014). Effect of Celebrity Endorsement on Tourists’perception of Corporate Image, Corporate Credibility and Corporate Loyalty. International Journal of Hospitality Management, 37, 131-145.
Rovinelli, R. J., & Hambleton, R. K. (1977). On The Use of Content Specialists in The Assessment of Criterionreferenced Test Item Validity. Dutch Journal of Educational Research, 2, 49-60.
Watanabe, S., Tareq, M., & Kanazawa, Y. (2011). When Openness to Experience and Conscientiousness Affect Continuous Learning: A Mediating Role of Intrinsic Motivation and A Moderating Role of Occupation. Japanese Psychological Research, 53(1), 1–14.