Understanding Consumer Behavior in the Insurance Industry

Oct 13, 2025 by leolavanderia.com.br 49 views

Understanding Consumer Behavior in the Insurance Industry

Understanding consumer behavior is crucial for marketing actors, especially in the insurance industry. The insurance industry is highly competitive, and marketing actors must have a deep understanding of the factors that influence consumer decisions when choosing insurance policies. This study aims to identify the factors that influence the selection of Joint Life Insurance Policy (AJB) Bumiputera 1912 Branch of the Aksara Operational Medan Branch, as well as determining the most dominant factors.

Methodology of the Study

This study uses a quantitative descriptive model and a case study method supported by surveys. The research sample consisted of 70 AJB Bumiputera 1912 Policy holders in the Aksara Operational Medan Branch, which was 25% of the population. Data collection was carried out through observation, questionnaires, interviews, and documentation studies measured by Likert scale. Data were analyzed using multiple linear regression with the help of SPSS. The analysis stages include the normality test, hypothesis testing, F test, and t test to determine the effect of the independent variable on the dependent variable simultaneously and partially, with a significance level of A = 0.05.

Factors Influencing the Selection of AJB Bumiputera 1912 Insurance Policy

The results of the study showed that factors such as products, premiums, promotions, services, and income simultaneously influenced the decision to select the AJB Bumiputera 1912 Branch of Medan. However, partially, Service is the most dominant factor in influencing consumer decisions in choosing the AJB Bumiputera 1912 Insurance Policy in Medan Branch.

Implications of the Study for AJB Bumiputera 1912 Medan Branch

These findings have important implications for AJB Bumiputera 1912 Medan Branch in an effort to increase customer sales and retention. The main priority must be given to improving the quality of services to attract prospective customers and maintain existing customers. This can be done through various efforts such as:

Improving Service Quality

*** Improving the professionalism and friendliness of the Service Officers: Training and Development of Employees' Ability in terms of communication, empathy, and problem-solving skills are very important to create positive service experiences for customers.

*** Facilitate the claim process: The claim process that is fast, transparent, and easy to understand can build customer trust in the company.

*** Increasing service accessibility: Expanding service reach through online channels, call centers, and mobile services can provide convenience and flexibility for customers.

*** Providing loyalty programs: Attractive loyalty programs can encourage customer retention and increase their loyalty to the company.

Conclusion

With a focus on improving service quality, AJB Bumiputera 1912 Medan Branch can build a positive image in the eyes of consumers and increase competitiveness in the insurance market. By understanding the factors that influence consumer decisions, AJB Bumiputera 1912 Medan Branch can develop effective marketing strategies to attract and retain customers.

Recommendations for Future Research

This study provides a foundation for future research on the factors that influence consumer decisions in the insurance industry. Future studies can explore the impact of other factors such as technology, social media, and customer experience on consumer decisions in the insurance industry.

Limitations of the Study

This study has several limitations. The study was conducted in a single branch of AJB Bumiputera 1912, and the sample size was limited to 70 policy holders. Future studies can replicate this study in other branches and with a larger sample size to increase the generalizability of the findings.

Conclusion

In conclusion, this study provides valuable insights into the factors that influence consumer decisions in choosing the AJB Bumiputera 1912 Insurance Policy in Medan Branch. The study highlights the importance of service quality in influencing consumer decisions and provides recommendations for AJB Bumiputera 1912 Medan Branch to improve service quality and increase customer sales and retention.

Q1: What is the main objective of the study?

A1: The main objective of the study is to identify the factors that influence the selection of Joint Life Insurance Policy (AJB) Bumiputera 1912 Branch of the Aksara Operational Medan Branch, as well as determining the most dominant factors.

Q2: What methodology was used in the study?

A2: The study used a quantitative descriptive model and a case study method supported by surveys. The research sample consisted of 70 AJB Bumiputera 1912 Policy holders in the Aksara Operational Medan Branch, which was 25% of the population.

Q3: What are the factors that influence the selection of AJB Bumiputera 1912 Insurance Policy?

A3: The results of the study showed that factors such as products, premiums, promotions, services, and income simultaneously influenced the decision to select the AJB Bumiputera 1912 Branch of Medan. However, partially, Service is the most dominant factor in influencing consumer decisions in choosing the AJB Bumiputera 1912 Insurance Policy in Medan Branch.

Q4: What are the implications of the study for AJB Bumiputera 1912 Medan Branch?

A4: The findings of the study have important implications for AJB Bumiputera 1912 Medan Branch in an effort to increase customer sales and retention. The main priority must be given to improving the quality of services to attract prospective customers and maintain existing customers.

Q5: What are the recommendations for AJB Bumiputera 1912 Medan Branch to improve service quality?

A5: The recommendations for AJB Bumiputera 1912 Medan Branch to improve service quality include:

Improving the professionalism and friendliness of the Service Officers: Training and Development of Employees' Ability in terms of communication, empathy, and problem-solving skills are very important to create positive service experiences for customers.
Facilitate the claim process: The claim process that is fast, transparent, and easy to understand can build customer trust in the company.
Increasing service accessibility: Expanding service reach through online channels, call centers, and mobile services can provide convenience and flexibility for customers.
Providing loyalty programs: Attractive loyalty programs can encourage customer retention and increase their loyalty to the company.

Q6: What are the limitations of the study?

A6: The study has several limitations. The study was conducted in a single branch of AJB Bumiputera 1912, and the sample size was limited to 70 policy holders. Future studies can replicate this study in other branches and with a larger sample size to increase the generalizability of the findings.

Q7: What are the recommendations for future research?

A7: This study provides a foundation for future research on the factors that influence consumer decisions in the insurance industry. Future studies can explore the impact of other factors such as technology, social media, and customer experience on consumer decisions in the insurance industry.

Q8: What are the benefits of improving service quality in the insurance industry?

A8: Improving service quality in the insurance industry can lead to increased customer satisfaction, loyalty, and retention. It can also lead to increased competitiveness in the market and improved reputation of the company.

Q9: How can AJB Bumiputera 1912 Medan Branch measure the effectiveness of their service quality improvement initiatives?

A9: AJB Bumiputera 1912 Medan Branch can measure the effectiveness of their service quality improvement initiatives by tracking key performance indicators (KPIs) such as customer satisfaction, loyalty, and retention rates. They can also conduct regular surveys and focus groups to gather feedback from customers and identify areas for improvement.

Q10: What are the next steps for AJB Bumiputera 1912 Medan Branch to improve service quality?

A10: The next steps for AJB Bumiputera 1912 Medan Branch to improve service quality include:

Conducting a thorough analysis of their current service quality processes and identifying areas for improvement.
Developing and implementing a service quality improvement plan that includes specific goals, objectives, and timelines.
Providing training and development opportunities for employees to improve their communication, empathy, and problem-solving skills.
Implementing a customer feedback system to gather feedback from customers and identify areas for improvement.
Regularly monitoring and evaluating the effectiveness of their service quality improvement initiatives.