Journal of Risk Management and Insurance: Vol. 20 No. 1 (2016)

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    Using heuristic cues for insurance broker's intention to select automobile insurance companies
    (Assumption University Press, 2016) Maneerat Kor-Udom
    The purpose of this study is to find the key influencing factors that the brokers used as the heuristic cues when they select the automobile insurance companies and propose it to the end customers. The heuristic theory is employed because the broker's decision processes seem to be repeating. Decision influencing factors, mostly, are not different across customers except in some minor conditions. Regarding the common business decision, the major heuristic cues cover both benefit or cost factors. Previous literature in the insurance context suggested several benefit and cost factors. However, regarding the interviews, conducted with the experienced Thai brokers in the initial stage of this research, indicated only four benefits and two cost factors. Four benefit factors i.e. company reputation including customer orientation, quality of operation, financial reliability as well as product quality, service quality, incentives and two cost factors; economic and transaction costs were emphasized as heuristics cues for the broker's decisions in this study. Apart from the benefits and costs, three dimensions of the relationship quality i.e. satisfaction, trust and commitment were also added as another heuristic cues for the broker's decision. four hundred and three complete sets of survey data were collected from the automobile insurance brokers. The structural equation modeling (SEM) was employed to test the relationship of each heuristics cue and broker's intention to select automobile insurance companies. The findings revealed that the service quality had the strongest influence on the broker's intention, followed by costs, product quality, customer orientation and quality of operation. Trust was surprisingly found to have strong but negative relationship with the broker's intention. Finally, the relationship between financial reliability, incentives, satisfaction and commitment and broker's intention were not found.
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    The effect of relationship quality on cross-buying intention in bancassurance channel: a study on bank customers in Thailand
    (Assumption University Press, 2016) Suwanna Kitseree
    There are limited studies of relationship marketing in Business-to-Consumer, especially in a bancassurance context, although this theory has been previously used in the marketing studies in the past. Thus, this study employed relationship marketing theory and related constructs to explain the success of bancassurance in Thailand. About 700 questionnaires were distributed but only 443 completed sets of questionnaires were qualified for SEM analysis after data cleaning process. Among the antecedents of relationship quality, only relational bonds were found to have a direct and positive relationship with the cross-buying intention. Other variables, such as source credibility and brand image, were found to have indirect effect on cross-buying intention through relationship quality. The results of this study contribute theoretically in the area of relationship marketing and relationship quality. Relationship marketing theory was proven to be a dynamic theory and still plays an important role in the twenty-first century, especially in the services sector area. Moreover, relationship quality between the bank and its customers helps explain the success of the cross-buying intention of bank customers in the Business-to Consumer context.