Switching intention and switching behavior of adults in the non-life insurance sector: Mediating role of brand love

In the current conditions of the Ukrainian economy, which is characterized by crisis phenomena and frequent changes in legislation, the insurance organizations are facing a number of difficulties in maintaining their financial sustainability. Moreover, these processes take place under the increased requirements for solvency of insurers. However, a significant part of domestic insurance companies is financially unstable, which is conditioned not only by the lack of funds, but also by the low level of management. This situation hinders the further development of the insurance market in Ukraine and has a negative impact on all areas of the domestic financial system and prevents it from successful integration into the European financial field. In order to address this problem, it is necessary to distinguish the key groups of risks that affect the financial sustainability of insurance organizations, among which there are the following: insurance, strategic, market risk, risk of inefficient capital structure, risk of limiting the insurance company’s liquidity, tax risk, investment risk, operational risk, the risk of ineffective organizational structure of the enterprise, and information risk. It should be noted that under conditions of changing environment, the impact of these risks only increases, and therefore the task of minimizing the impact of these risks on the activities of insurance companies is highly important. Accordingly, the authors of the article proposed a four-stage strategy to manage the financial sustainability of the insurance company, the purpose of which is to identify the risks of limiting the insurer’s financial sustainability, their qualitative and quantitative assessment, as well as the development and implementation of appropriate measures to minimize and eliminate unacceptable consequences.

Financial performance is the fundamental aspect to test the performance of the companies. The performance of insurance sector, like any other service industry, is supposed to depend significantly on customers. When it comes to customers, it is an established fact that customer satisfaction would be an important element. Customer satisfaction primarily depends on the quality of service it gets. It can be safely hypothesized that better service quality would lead to higher satisfaction, which would ultimately lead to higher profits for the company. Studies on this relationship in the insurance sector for Saudi Arabia are missing. Hence, this study aims at studying both the profitability of companies and quality of service and tries to relate it to customer satisfaction. The results are quite surprising, as the study establishes that although the qualities of services are found wanting in many areas, companies are earning good profits. A probable reason could be the statutory nature of the services. Nevertheless, this study recommends improving the quality of services and differentiating services between age groups for further improvement.

A rigorous and extensive application of the value chain management (VCM) has become the vogue in modern day business practices and processes. However, due to the complex and multidimensional nature of value chains, achieving efficient and effective value chain management in real value chains remains a major conundrum for practitioners. Many unknown barriers continue to impede effective and efficient value chain management in developing countries’ industrial value chains. The purpose of this study was to find out the common barriers to effective value chain management in a developing country’s industrial value chains using evidence from the cotton industry in Zimbabwe. The analysis was based on survey data sets obtained from 157 purposively sampled experts from the cotton industry value chain in Zimbabwe. Exploratory factor analysis was used to find the barriers to effective value chain management. The results revealed both architectural and governance barriers to effective value chain management. The findings also presented major policy implications for industrial value chains in the developing countries and also indicated areas for further robust research founded on a broader data set from other developing countries’ industrial chains as a way of validating the findings of this study.