THE INFLUENCE OF CUSTOMER VALUE, BRAND IMAGE AND BRAND TRUST TOWARD CUSTOMER LOYALTY (CASE STUDY IN THE ISLAMIC INSURANCE INDUSTRY)

Nurmayanti, Rosi and Lizar , Alfansi and Sularsih , Anggarawati and Effed , Darta (2015) THE INFLUENCE OF CUSTOMER VALUE, BRAND IMAGE AND BRAND TRUST TOWARD CUSTOMER LOYALTY (CASE STUDY IN THE ISLAMIC INSURANCE INDUSTRY). In: MIICEMA 2014, 10-11 November 2014, Hotel Bangi-Putrajaya, Malaysia.

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Abstract

The Market share of Islamic insurance in Indonesia is relatively low, 2.95% in 2013. However, the growth of Islamic insurance in Indonesia in the last five year is 40%, while the growth of conventional insurance in the same period is only 22.7%. Studies of consumer loyalty in Islamic insurance industry is relatively unheard in Indonesia, therefore the study could provide insights about customer loyalty in Islamic insurance industry. The objective of the study is to develop a construct of consumer loyalty model in the Islamic insurance industry. Variables such as customer value, brand image, and brand trust are employed as antecedences of customer loyalty. A sample of 165 Islamic insurance customers in the city of Bengkulu was collected for the study. Structural Equation Model was employed to establish a model’s fit. The results of the study conclude that customer loyalty in the Islamic insurance industry is significantly predicted by brand image and brand trust. However, customer loyalty is not significantly influenced by customer value. The findings suggest that to target Islamic insurance customers, insurance providers need to build strong brand image and brand trust.

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