Developing a Model of Policyholder's Surrender Behavior: A Study Based on the Grounded Theory

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Bakhtiar Nasrabadi Hosseinali; HASANGHOLIPOUR TAHMOURES; Mira Seyed Abolghasem; VEDADHIR ABOU ALI

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Journal Paper

Paper Information

Journal: New Marketing Research Journal Year:2020 | Volume:9 | Issue:4 (35) Page(s): 33-54

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Title

Developing a Model of Policyholder's Surrender Behavior: A Study Based on the Grounded Theory

Author(s)

Bakhtiar Nasrabadi Hosseinali | HASANGHOLIPOUR TAHMOURES | Mira Seyed Abolghasem | VEDADHIR ABOU ALI | Issue Writer Certificate

Keywords

SurrenderQ1

Consumer BehaviorQ2

Life InsuranceQ2

PolicyholderQ2

Grounded TheoryQ1

Abstract

Life Insurance policy Surrender is one of the main challenges in enhancing penetration rate and Life Insurance development; so a proper understanding of motives, quality and process of the Surrender behavior can help insurers to formulate and implement effective strategies to maintain the Policyholder's loyalty and the contract. Due to the lack of a comprehensive behavioral model for Life Insurance Surrendering, this study aimed to represent a better understanding of the phenomenon employing a qualitative research approach based on the Grounded Theory. Data were collected through in-depth interviews with 29 selected participants including Policyholders, insurance agents, and Life Insurance experts, using theoretical sampling which continued until theoretical saturation. Data analysis was carried out systematically with open, axial, and selective coding mechanism, with a continuous iterative process between data, concepts, categories and the model. In this process, questioning and comparison strategies as well as memos, diagrams and paradigm tools were utilized to analyze the data. The research acceptability was considered based on the Corbin and Strauss' indices. As a research output, a cognitivepsychological model of Life Insurance Surrender behavior was presented in the context of micro and macro environmental conditions and internal or individual circumstances in which post-purchase uncertainty affected the assessment of communication, and interactions and perceived behavioral control caused attitude uncertainty which, along with situational factors, particularly financial need and impulsive behaviors, cognitive, and psychological biases and intentions lead to Life Insurance Surrendering.

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APA: Copy

Bakhtiar Nasrabadi, Hosseinali, HASANGHOLIPOUR, TAHMOURES, Mira, Seyed Abolghasem, & VEDADHIR, ABOU ALI. (2020). Developing a Model of Policyholder's Surrender Behavior: A Study Based on the Grounded Theory. NEW MARKETING RESEARCH JOURNAL, 9(4 (35) ), 33-54. SID. https://sid.ir/paper/388398/en

Vancouver: Copy

Bakhtiar Nasrabadi Hosseinali, HASANGHOLIPOUR TAHMOURES, Mira Seyed Abolghasem, VEDADHIR ABOU ALI. Developing a Model of Policyholder's Surrender Behavior: A Study Based on the Grounded Theory. NEW MARKETING RESEARCH JOURNAL[Internet]. 2020;9(4 (35) ):33-54. Available from: https://sid.ir/paper/388398/en

IEEE: Copy

Hosseinali Bakhtiar Nasrabadi, TAHMOURES HASANGHOLIPOUR, Seyed Abolghasem Mira, and ABOU ALI VEDADHIR, “Developing a Model of Policyholder's Surrender Behavior: A Study Based on the Grounded Theory,” NEW MARKETING RESEARCH JOURNAL, vol. 9, no. 4 (35) , pp. 33–54, 2020, [Online]. Available: https://sid.ir/paper/388398/en

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