Kundenbindung in der Versicherungswirtschaft: Ergebnisse einer theoretischen und empirischen Analyse

In this article customer retention is analysed both theoretically and empirically, especially the retention of customer to insurance intermediaries. After the construct of customer retention has been conceptualised, the determinants of customer retention in the insurance business are derived. The empirical analysis is based on interviews of German customers of an internationaly operating financial services company. A total of 1,003 interviews were conducted. The analysis of customer retention through the usage of structural equation modelling forms the main part of this article. A comparison of three methods — structural equation modelling, neural networks and decision trees — shows that they are complementary and a combined application of these methods brings additional insights. On the basis of the determinants of customer retention, a typology of customers is built through hierarchical cluster analysis. The management of customer retention can be realised either by manipulating the determinants of customer retention or by ad dressing the identified customer types with a segment specific marketing mix.     

Electronic Business in der Versicherungswirtschaft

In the last years a fundamental shift took place in the competitive environment of the financial services industry which was mainly due to the development of the internet. Because of its high degree of information this industry seems to be particularly suitable for electronically based transactions. For this reason the article analyses possibilities for and potentials of the use of electronic business in the insurance industry. These possibilities and potentials could be found on every step of the value chain of firms in the insurance industrie so that there are many possibilities to improve efficiency. The use of electronic business also leads to an intermediation of the value chain and to the emergence of new business models in the environment of insurance firms.     

Kundenbindung in der Versicherungswirtschaft — neo-institutionenökonomische Analyse und marketingpolitische Ansatzpunkte

In the 90s a shift from a supply-driven to a demand-driven insurance market has taken place in Germany, and insurance companies have started to create customer loyalty by orientating their marketing policies towards the creation of and maintenance of long-term relationships. However, in the case of insurance services, uncertainty and the “information” factor play an important role. Therefore this article develops the characteristics of insurance services by using the paradigm of information economics and subsequently demonstrates the importance of trust in creating and maintaining long term insurer customer collaboration. Finally the economic implications of relational effects on customers and insurers are set forth. It can be shown that customer loyalty is mainly the result of successful management of customer relation.     

Die Rolle der Versicherungsmathematik innerhalb der gesamten Wissenschaft und Praxis der Versicherung

Abstract

Der überraschenden ehrenvollen Einladung in den drei skandinavischen Hauptstadten im Verein der Aktuare einen Vortrag zu halten, bin ich zwar gern aber nicht ohne Bedenken gefolgt; weiss ich doch nicht, ob ich in einem solchen Kreise von Sachverstandigen der Wissenschaft und Praxis der Versicherung etwas bieten kann. Aber die so überaus liebenswürdige Schreiben Ihrer Herrn Vorsitzenden geben mil' den Mut hier zu sprechen. Ich will kein speziell versicherungsmathematisches Thema behandeln: rch will vielmehr den Rahmen weiterspannen und iiber die {iRolle der Versicherungsmathematik innerhalb del gesamten Wissenschaft und Praxis der Versicherung sprechen.     

Hedge-Fonds als Asset-Klasse: Betrachtungen aus der Perspektive der deutschen Versicherungswirtschaft

The over performance of hedge funds until the current financial market turbulences led to a large number of insurers increasing their hedge funds quota. In the following this asset class is examined and particularly analyzed with respect to its adequacy for an insurance company's asset allocation by focusing on the axiom of safety, as demanded by national law. The problem of survivorship-bias and the Markowitz requirements of normal-distribution and constant correlations among the asset classes and their impact on a strategic asset allocation are studied.