Influence of Factors on the Formation of Reputation in Insurance Companies

Frank GERWALD

https://doi.org/10.53465/EDAMBA.2022.9788022550420.118-127

 

Abstract: The aim of this work is to identify important factors that insurance companies consider important for their reputation and at the same time to assess their weighting. Based on the results of an extensive literature review, the six factors that are held responsible for the formation of reputation were derived. These factors served as the basis for structured expert interviews, which were conducted with experts from the insurance industry following the literature research. The evaluation of the interviews shows that, due to the regulatory nature of the insurance industry, special conditions apply here for the formation of reputation. In particular, the area of services should be considered separately from the product factor, as this is where insurers have the best opportunities to create their own profile and differentiate themselves from the competition. The survey also shows that the responsible handling of corporate values and the emotional appeal to stakeholders are regarded as important factors by the experts. While the interviewees indicated that they ascribe growing importance to social media, at the same time there is still room for improvement in insurers' use of these channels.

Keywords: reputation, insurance, reputation management

JEL classification: G22, D91, L14

Fulltext: PDF

Online publication date: 3 March 2023

ISBN: 978-80-225-5042-0

Publisher: University of Economics in Bratislava

Pages: 118-127

 

To cite this proceedings paper (STN ISO 690 and 690-2):

GERWALD, F. 2023. Influence of factors on the formation of reputation in insurance companies. In LÜLEYOVÁ, A. (ed.). EDAMBA 2022: Conference Proceedings. Bratislava: University of Economics in Bratislava, 2023. ISBN 978-80-225-5042-0, pp. 118-127. https://doi.org/10.53465/EDAMBA.2022.9788022550420.118-127