publication . Article . 2011

Extending the Scope of Services in the Insurance Industry

von Watzdorf, Stephan; Gebauer, Heiko; Staake, Thorsten; Fleisch, Elgar;
Open Access English
  • Published: 12 Mar 2011
  • Publisher: Emerald
Abstract
The study at hand explores the influence of value-added services offered in addition to a motor insurance product on the customer's preference structure. It addresses the need of insurance companies to extend their core business with different types of supplementary services. A choice-based conjoint analysis is conducted which considers the price for the insurance product, the insurance franchise, the non-claims bonus as well as post-accident services and value-added services. Based on the results from the conjoint study among 1053 car drivers in Switzerland in August 2009, Hierarchical Bayes estimation is applied in order to assess individual preference values....
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