We are who we are: Incorporation of individual culture in customer satisfaction models

Parahoo, Sanjai K.; Al-Nakeeb, Ahmed; Onagun, Ismail

doi:10.1057/fsm.2015.15

Cited by 2 publications

(2 citation statements)

References 35 publications

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“…Trust is found to be a relevant factor in financial decisions not only in traditional communities but across cultures. For example, trust affects internet banking access decision in Jordan (Alalwan et al , 2016) and customer satisfaction may be affected by the relevant cultural background (Parahoo et al , 2015). In rural areas, Patt et al (2009) stressed that emotions – self-confidence and trust in the product and suppliers – can matter most in the insurance take-up decision.…”

Section: Factors Affecting the Demand For Index-based Insurancementioning

confidence: 99%

Does willingness-to-pay for weather index-based insurance follow covariant shocks?

Castellani

Viganò

2017

IJBM

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Purpose The purpose of this paper is to investigate the role that weather shocks can play in the livestock mortality microinsurance take-up when the insured risk has a prevalent covariant component. Design/methodology/approach The sample consists of 360 rural Ethiopian households. Data were collected in a panel-structure at the end of three agricultural seasons (2011-2013). In the questionnaire, a specific section on insurance was meant to collect information on the farmer’s willingness-to-pay (WTP) for a set of insurance products, including livestock mortality insurance. Two OLS regression models and a quantile regression model were employed to estimate the impact of weather anomalies on the WTP for the insurance product. Findings The authors find that weather anomalies contribute to changes in the WTP to a large extent. Negative (positive) changes in precipitation (temperature) anomalies can lead to more than a 30 percent reduction in the WTP. This general finding is complemented with the analysis of the conditional distribution of the WTP, which shows that other elements can prevail for low values of the conditional distribution. In this case, the WTP seems to be represented more by the interviewee’s age and basic knowledge of insurance, and village fixed-effects. Basic knowledge of insurance, in particular, can increase WTP by about 60 percent. Practical implications This paper has straightforward implications from a policy perspective. It suggests that farmers would prefer an insurance premium that follows the changes in the systemic component. On the contrary, insurance as well as reinsurance companies are usually reluctant to frequently revise their premiums. Financial education programs, farmer-driven design, trust building, and bundling insurance with other financial and non-financial products can increase the value proposition perceived by the farmers. From a marketing perspective, the overall findings suggest that continuous fine-tuning of the contract, transparency, and targeted information campaigns can contribute to increase and stabilize potential customers’ WTP. Originality/value To the best of the authors’ knowledge, this is the first paper that considers the impact of weather shocks on the WTP for a livestock mortality insurance product. Livestock is one of the most strategic assets of poor rural households in Africa. This study contributes to the theoretical and empirical literature on the determinants of weather insurance take-up in developing countries and, in particular, the role of spatiotemporal adverse selection and basis risk (e.g. Jensen et al., 2016).

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Section: Factors Affecting the Demand For Index-based Insurancementioning

confidence: 99%

Does willingness-to-pay for weather index-based insurance follow covariant shocks?

Castellani

Viganò

2017

IJBM

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“…Some research set up that cultural values affect both customer satisfaction and customer loyalty. Parahoo et al (2015) found that cultural values, directly and indirectly, influence customer satisfaction or influence loyalty behavior.…”

Section: Culture-customer Loyalty Relationshipmentioning

confidence: 99%

An Investigation of the Internet Generation Customer Loyalty: An Empirical Study in Indonesia Mobile Services

Yacob

Johannes

Edward

et al. 2023

Business: Theory and Practice

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The study aims to investigated of iGen customer loyalty model that effected by service quality, culture, loyalty program and trust trough customer satisfaction. Following the conceptual model, an inclusive set of hypotheses have been developed. The demanded data were collected from 663 samples using an online survey, and Structural Equation Model with Smart Partial Least Square was applied to test the model and hypotheses. The research found that service quality, culture,loyalty programs, and trust are combined to predict customer loyalty. Trust and loyalty programs exert a more powerful impact on customer loyalty than service quality and culture variables. Customer satisfaction acts as a mediator in the relationship between service quality, loyalty programs, customer trust, and customer loyalty. The results have some critical academic and professional implication for determining the model of consumer loyalty and the internet generation (iGen) in mobile communication services. The study can be used as a part model in formulating a marketing strategy operation that has a competitive advantage in the mobile communication services in Indonesia.

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We are who we are: Incorporation of individual culture in customer satisfaction models

Cited by 2 publications

References 35 publications

Does willingness-to-pay for weather index-based insurance follow covariant shocks?

Does willingness-to-pay for weather index-based insurance follow covariant shocks?

An Investigation of the Internet Generation Customer Loyalty: An Empirical Study in Indonesia Mobile Services

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