Research On Influencing Factors Of Customer Loyalty In Insurance Agency Of GB Life Insurance Company

With the improvement of people’s income level and the enhancement of risk awareness,the development of the insurance industry in China shows a trend of rapid growth.At the same time,with the increasing demand for life insurance products by the people,the life insurance customer group has also tended to become younger,mainly after the 1980s and 1990s,and the post 90s have gradually grown into a major customer group.In the era of highly developed Internet information,young customers have more opportunities to choose insurance companies and products.Therefore,almost all small and medium-sized life insurance companies in the market face the problem of low loyalty.From the perspective of internal indicators,the customer renewal rate of small and medium-sized life insurance companies is declining;From external feedback,most customers have serious concerns when choosing small and medium-sized life insurance companies.GB Life Insurance Company was established in 2018,with its headquarters located in Chengdu,Sichuan,and is a small life insurance company locally.Since its establishment,there has been a downward trend in the renewal rate of customers through the sales channels of individual insurance agents,and customer loyalty is not high.The purpose of this study is to study the influencing factors of customer loyalty in individual insurance channels of GB life insurance companies,and provide development suggestions for small and medium-sized life insurance companies.Through literature research,interviews,questionnaires,and data analysis,this study found that customer satisfaction,customer perceived value,and customer switching costs have a positive impact on customer loyalty in life insurance.Among them,life insurance customer satisfaction has the strongest impact on customer loyalty.In addition,life insurance customer perceived value and life insurance agent service quality have a significant positive impact on life insurance customer satisfaction,while life insurance agent service quality has a significant positive impact on life insurance customer perceived value.