Constructing quality-satisfaction-loyalty chain system: an empirical study of insurance industry in China

Customer satisfaction and loyalty is gradually becoming the key factors that influence profits and long-term developments of insurance companies. Based on quality-satisfaction-loyalty chain, this study developed and empirically tested a model examining the relations among perceived quality, perceived value, satisfaction, trust and repurchase loyalty in the context of Chinese insurance market. An empirical study, carried out to test the motivational process model and hypothesized casual relationships finds overall support. In conclusion, satisfaction is directly influenced by perceived quality and perceived value and has an indirect influence on loyalty mediated by trust. Implications of this research for marketers and consumer psychologists are discussed and suggestions for future research are provided.