Reports from Islamic Azad University Advance Knowledge in Health and Medicine (Customer Lifetime Value of Supplementary Health Insurance: An Analytical Model): Health and Medicine

2022 JAN 20 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Investigators discuss new findings in health and medicine. According to news reporting originating from Isfahan, Iran, by NewsRx correspondents, research stated, “With the number of insurance customers growing, insurance companies are trying new ways to retain customers and streamline communication channels to avoid loss of revenue. The present study set out to develop a model for a reliable analysis of customer lifetime value.”

Our news editors obtained a quote from the research from Islamic Azad University: “The present study was exploratory mixed method in design. The study took place in Jundishapur University of Medical Sciences, located in Ahvaz, Iran. A total of 402 insurance experts and university staffers participated in the study. A cross-sectional data collection was done using semi-structured interviews (n = 22) and a questionnaire (n = 380). The latter was validated via a panel of content area experts, criterion-dependent validity (second-order confirmatory factor analysis), and divergent validity (cross-sectional load test and Fornell-Laker). Cronbach’s alpha and combined reliability were - 0.8 and 0.8, respectively. A structural equation approach was employed to analyze data using Smart PLS software. Customer loyalty with an impact factor of 0.60 and T-statistic of 5.79, profitability with an impact factor of 0.55 and T-statistic of 3.75, customer co-creation with an impact factor of 0.28, and T-statistic of 2.7 have been identified as dimensions of customer lifetime value.”

According to the news editors, the research concluded: “Measuring customer lifetime value to implement various strategies requires a deep understanding of such value dimensions as loyalty, profitability, and value creation.”

For more information on this research see: Customer Lifetime Value of Supplementary Health Insurance: An Analytical Model. Journal of Evidence Based Health Policy, Management & Economics, 2021,5(4):267-275. (Journal of Evidence Based Health Policy, Management & Economics - http://journals.ssu.ac.ir/jebhpme/index.php?sid=1&slc_lang=fa). The publisher for Journal of Evidence Based Health Policy, Management & Economics is Shahid Sadoughi University of Medical Sciences.

Our news journalists report that additional information may be obtained by contacting Roohollah Dehghani Ghale, Department of Management, Mobarakeh Branch, Islamic Azad University, Mobarakeh, Isfahan, Iran. Additional authors for this research include Farzad Karimi, Hassan Ghorbani Dinani.

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