Brand Creation Ecology in The Insurance Industry

Objective: Considering the limited research in the field of brand ecology in the insurance industry, this study serves as a significant step towards deepening the scientific understanding of the subject. Providing a comprehensive and practical model of brand ecology can effectively contribute to strengthening and developing branding strategies in the insurance industry and aid in achieving sustainability and growth in this sector.



Methodology: Data from this research were gathered through semi-structured interviews with 16 experts and informed individuals in the field of branding, using a snowball sampling method until theoretical saturation was reached. The data were analyzed using content analysis, and a model aligned with the findings was drawn using Excel software.



Findings: The statistically coded data from the interviews consist of 31 final codes and 17 concepts, categorized into five main factors influencing brand ecology in the insurance industry:



1. Marketing Strategies:

- Advertising: Utilizing various methods and channels to communicate with customers and increase brand awareness.

- Building Trust: Establishing customer trust in the brand through the provision of high-quality and reliable services and products.

- Timely Commitment Fulfillment: Ensuring timely and reliable fulfillment of financial commitments and services.

- Innovation in Services: Introducing new and diverse services to attract and retain customers.

- Suitable Naming: Choosing a brand name or logo that is compatible and recognizable.



2. Preference-Elevation Behaviors:

- Discounts: Offering discounts and special offers to encourage customer purchases.

- Installment Plans: Providing installment options to facilitate payment of expenses.

- After-Sales Services: Offering post-purchase services, modifications, and repairs.

- Service Variety: Providing a diverse range of insurance services to cater to a wide range of customer choices.



3. Physical Conditions:

- Interior Decoration: Creating an attractive and pleasant interior environment in offices and branches.

- Easy Access to Representatives: Locating representatives in easily accessible and convenient places for customers.

- Geographic Coverage: Expanding the network of branches to different regions to increase geographical coverage and accessibility to a broader customer base.



4. Internal Organizational Factors:

- Employing Professional Staff: Hiring and developing personnel with the necessary expertise and skills to deliver quality services.

- Periodic Employee Training: Providing training courses to enhance skills and technical knowledge among employees.

- Strong Financial Backing: Maintaining sufficient financial resources to cover expenses and support business development in the insurance sector.



5. External Organizational Factors:

- Identifying and Addressing Customer Needs: Recognizing customer needs and preferences and providing services and products tailored to them.

- Aligning Strategies with Customer Needs: Aligning strategies and performance with changing customer requests and expectations.



These factors, when considered together, form a brand ecology in the insurance industry and have a positive impact on customer perception and trust in the brand. From these findings, organizations can develop better strategies to enhance their brand and, consequently, operate more effectively in the competitive market.