A comparative corporate image analysis of the local insurance industry

Abstract

Purpose - The purpose of this paper will seek to gauge and comparatively position the main local insurance companies on the basis of their image and service attributes as perceived by respondents. While emphasising on the fact that company image must reflect reality and the identity of the company, the study analysis the corporate image of the main local insurance companies with the objective of presenting a recommendation plan to further consolidate corporate image as required. Design/methodology/approach - The data for the study comprises of Secondary data sources from a number of Trade Journals and will consist of articles relevant to the study. Primary data was mainly based on a random sample survey with local customers; three focus group sessions and an analysis of the main websites of local insurance companies and newspapers. Findings - The study results show that image and identity are interrelated. Also some form of corporate image is required to enable companies, especially in the insurance industry to portray themselves worthy in the public's mind. Research limitations/implications - Companies face a persistent dilemma as to how to portray their corporate image to their customers. The findings serve to open doors for insurance companies in establishing the fundamental aspects consumers consider to be important when tacking image. The need to further develop these propositions is also essential, as societies needs and wants are ever changing. Practical implications - The parties most affected by the outcome are the local companies that form part of the insurance industry. Originality/value - The research conducted is relevant, because in this present day corporate image is considered a fundamental aspect for any company, not only for clients, but also investors and other relevant audiences. The study will also guide companies in the sector, in their promotional efforts, in ensuring that the image promoted is in line with identity.