Partnership between life insurers and their intermediaries

Partnership between life insurers and their intermediaries Purpose – The purpose of this study attempts to fill the gap in the literature by investigating partnerships between life insurers and insurance intermediaries, the effects of these partnerships, and the parties' willingness to cooperate. Design/methodology/approach – Data were collected in a survey of general managers of the insurance intermediaries in Taiwan and were analysed using in‐depth interviews and questionnaires. A structural equation modelling approach is employed to test the hypotheses. Findings – The paper finds that partnership components, communication strategies, conflict resolution approaches, and market orientation are related to partnership performance. The paper also finds that willingness to continue cooperation increases with partnership performance. The results have implications for managers of life insurers and their intermediaries. Originality/value – This research is one of the first studies to conceptualize and empirically examine the partnerships of life insurers and insurance intermediaries. Theoretically, a specification of the linkages between characteristics of the partnership, communication strategies, conflict resolution approaches, the market orientation of the partners, the partnership's performance and both parties' willingness to continue cooperation can provide a useful framework for future research. Practically, this study offers insights into how to proactively manage partnerships in order to improve partnership performance, willingness to continue cooperation and avoid the damaging costs inherent in failure. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Research Review Emerald Publishing

Partnership between life insurers and their intermediaries

Management Research Review, Volume 37 (4): 24 – Mar 11, 2014

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Publisher
Emerald Publishing
Copyright
Copyright © 2014 Emerald Group Publishing Limited. All rights reserved.
ISSN
2040-8269
DOI
10.1108/MRR-11-2012-0243
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this study attempts to fill the gap in the literature by investigating partnerships between life insurers and insurance intermediaries, the effects of these partnerships, and the parties' willingness to cooperate. Design/methodology/approach – Data were collected in a survey of general managers of the insurance intermediaries in Taiwan and were analysed using in‐depth interviews and questionnaires. A structural equation modelling approach is employed to test the hypotheses. Findings – The paper finds that partnership components, communication strategies, conflict resolution approaches, and market orientation are related to partnership performance. The paper also finds that willingness to continue cooperation increases with partnership performance. The results have implications for managers of life insurers and their intermediaries. Originality/value – This research is one of the first studies to conceptualize and empirically examine the partnerships of life insurers and insurance intermediaries. Theoretically, a specification of the linkages between characteristics of the partnership, communication strategies, conflict resolution approaches, the market orientation of the partners, the partnership's performance and both parties' willingness to continue cooperation can provide a useful framework for future research. Practically, this study offers insights into how to proactively manage partnerships in order to improve partnership performance, willingness to continue cooperation and avoid the damaging costs inherent in failure.

Journal

Management Research ReviewEmerald Publishing

Published: Mar 11, 2014

Keywords: Partnership; Intermediaries; Life insurers

References

  • Specification, evaluation, and interpretation of structural equation models
    Bagozzi, R.P.; Yi, Y.
  • The impact of financial services quality and fairness on customer satisfaction
    Chen, H.‐G.; Liu, J.Y.‐C.; Sheu, T.S.; Yang, M.‐H.
  • Distribution systems, loyalty and performance
    Chen, M.S.; Lai, G.C.
  • Service quality, trust, commitment and service differentiation in business relationships
    Chenet, P.; Dagger, T.S.; O'Sullivan, D.
  • The economics of insurance intermediaries
    Cummins, J.D.; Doherty, N.A.
  • Ethical issues in insurance marketing in the UK
    Diacon, S.R.; Ennew, C.T.
  • The quality of insurance intermediary service‐empirical evidence for Germany
    Eckardt, M.; Räthke‐Döppner, S.

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