Designing a Branding Model for Commercial Insurance Companies in Iran With the Help of a Mixed Research Method

Abstract

One of the major challenges of service marketing is its intangibility. Branding research shows that each person unconsciously holds about 40 brands and takes them into consideration when choosing. The present study, which deals with designing a model of service branding in commercial insurance companies, is a combination of methods, in terms of purpose, it is practical and in terms of data collection, it is a survey and is done in two phases. In the qualitative phase, interviews were held with four insurance industry experts, mainly technical assistants and managers of branding, marketing and public relations, during which the most important indicators of effective branding in commercial insurance companies included technical capabilities, support and Management and mix of service marketing, environmental characteristics, sales strategy and internal marketing were extracted. In the second phase of the research, a questionnaire was distributed and exploratory and confirmatory factor analysis were used to determine the relative importance of model variables and results analysis. The ranking of the factors influencing the branding of insurance companies shows that technical capability has the most impact. If insurance companies primarily focus on getting premium-risk premiums, the public's negative image of them will gradually disappear and a more favorable mentality of the brand will be created.