Non-life insurance cancellation: a systematic quantitative literature review

Leiria, Manuel; Matos, Nelson; Rebelo, Efigénio

doi:10.1057/s41288-020-00187-2

Cited by 6 publications

(5 citation statements)

References 43 publications

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“…In case of pure onliners, it is significantly the highest, in case of the others it is around the sample average. Building trust is one of the greatest challenges for the insurance industry, which could be increased by simplification of products, processes, terminology and customer interactions (Leiria et al , 2020).…”

Section: Discussionmentioning

confidence: 99%

“…Digitalization creates the possibility for the insurance companies to develop more standardized and automatized low-cost communication and selling channels. In order to develop a long-term relationship with costumers, there is a need to increase reciprocal involvement (Towers and Ashford, 2001) and commitment (Leiria et al , 2020). Digital channels could help to achieve this objective also.…”

Section: Discussionmentioning

confidence: 99%

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Digital touchpoints and multichannel segmentation approach in the life insurance industry

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Săplăcan

Benedek

et al. 2021

IJRDM

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PurposeDigital technology is revolutionizing insurance distribution allowing the insurer companies to reach customers via multichannel. The aim of this study is to segment potential customers of life insurance based on their information search, purchasing channels and personal characteristics in the digital environment.Design/methodology/approachThe study uses cross-sectional research survey. In total, 422 questionnaires were collected through a convenience sample of the Romanian population. The data was segmented based on consumer information touchpoints (online vs offline), purchase channel preference (offline by a professional vs online by a standardized platform) and personal characteristics (age, marital status and children).FindingsThe channel segmentation analysis revealed that information channel preferences are the most important clustering variables, followed by purchase channel preferences, marital status, having children and age. Four distinct segments were identified: young fully offliners (23.7%), mature fully offliners (31.5%), committed online searchers (23.2%) and cross-channel onliners (21.6%).Practical implicationsInsurance companies should adapt their communication and distribution strategy based on multichannel segmentation and should focus on digital touchpoints with costumers.Originality/valueFirstly, the paper reveals multichannel and hybrid segmentation for life insurance. Secondly, it extends the already studied retail channels with search engines and companies' websites. Thirdly, it extends the behavioural variables for channel segmentation with technology acceptance behaviour, attitude towards life insurance, knowledge about life insurance, attitude towards personal selling and quality appraisal of online information sources.

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Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

Digital touchpoints and multichannel segmentation approach in the life insurance industry

Alt

Săplăcan

Benedek

et al. 2021

IJRDM

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“…According to recent findings in the scientific research of insurance cancellation (Leiria et al , 2020), and to the literature reviewed, four research hypotheses were formulated after reviewing the literature, regarding the importance of intermediaries for product cancellation, insurance policy premiums, the existence of claims and the payment options.…”

Section: Literature Review and Research Hypothesesmentioning

confidence: 99%

Measuring the effectiveness of intermediary loyalty programmes in the motor insurance industry: loyal versus non-loyal customers

Leiria¹,

Rebelo

Matos

2021

EJMBE

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PurposeThe insurance industry has not been able to effectively retain its customers and struggles to establish and maintain long-lasting relationships with them. The purpose of this paper is thus to identify the main factors that explain the cancellation of motor insurance policies by individual customers, considering the influence of intermediaries on their decisions.Design/methodology/approachThe data used in this research is based on a sample of 3,500 insurance policies that lapsed during the period of analysis between January and July 2017, against another sample of 3,500 policies that did not lapse, from a major insurance company in Portugal. Binary logistic regression was used for data analysis, using IBM SPSS software.FindingsAggressive tactics by insurance companies for customer acquisition may induce the cancellation of insurance policies. More valuable customers, the policies with higher premiums and recent claims, as well as the ancillary intermediaries and agents, are determinants of insurance cancellation. Conversely, the payment of policies by direct debit and without instalments reduces the probability of cancellations.Research limitations/implicationsThe main limitation of this study is the restriction on data access. Insurance companies are significantly resistant to sharing their customer data – including with academic researchers – even in an anonymised form.Practical implicationsThe paper highlights internal and external practices of insurance companies that should be reformulated to significantly improve their performance regarding product cancellation, related to customer information management, mistrust behaviours related to stakeholders and new value propositions that deepen the relationships with intermediaries.Originality/valueThis research developed a framework with which to identify the factors that are mainly associated with motor insurance cancellation and to predict its likelihood.

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“…While distinct from traditional product or service supply chains (Leiria et al, 2020), effective SCM practices remain crucial for insurers to deliver high-quality services to customers. Key functions include claims management, cost control, risk mitigation, regulatory compliance, and customer satisfaction (Prentice et al, 2023;Ahmed et al, 2022;Leiria et al, 2020;Dominique-Ferreira, 2017).…”

Section: Introductionmentioning

confidence: 99%

A comparative analysis of supply chain management between Portugal and Ireland

Dominique-Ferreira,

Brophy,

Prentice

2024

EJMBE

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PurposeThis study investigates how insurance intermediaries in Portugal and Ireland evaluate supply chain management (SCM) practices within the insurance industry, specifically focusing on potential regional variations in their assessments.Design/methodology/approachA comparative research design was employed, collecting data through surveys administered to insurance brokers in Portugal and Ireland. These countries were chosen due to their well-developed intermediary-based insurance markets.FindingsThe results show that some dimensions of supply chain management are significantly different between Portugal and Ireland. Nevertheless, the insurance brokers from the two countries also share similar views on key aspects of supply chain management.Practical implicationsThis study offers valuable insights for insurance industry management, particularly regarding the dynamics of the insurer-intermediary relationship and the importance of catering to intermediary needs. The findings also highlight potential areas for European Union policy consideration, such as addressing potential asymmetries within the insurance sector across member states.Social implicationsImproved relationships and collaboration within the insurance supply chain can lead to enhanced access to insurance products and more tailored services for consumers.Originality/valueThis research addresses two key gaps in the literature. Firstly, it examines the insurer-intermediary relationship from the intermediary perspective, a viewpoint often neglected in prior research. Secondly, the study investigates and confirms the existence of regional variations in insurance SCM practices across two European countries.

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Non-life insurance cancellation: a systematic quantitative literature review

Cited by 6 publications

References 43 publications

Digital touchpoints and multichannel segmentation approach in the life insurance industry

Digital touchpoints and multichannel segmentation approach in the life insurance industry

Measuring the effectiveness of intermediary loyalty programmes in the motor insurance industry: loyal versus non-loyal customers

A comparative analysis of supply chain management between Portugal and Ireland

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